eBay Australia could extend its authenticity program to new categories, following success in sneakers and handbags.
This month, the eCommerce giant introduced an Authenticity Guarantee to men's and women's pre-loved and new luxury handbags listed over $350.
This followed the launch of a similar program for sneakers valued over $150 earlier this year.
Speaking to Ragtrader, eBay Australia head of luxury Brooke Eichhorn confirmed it has seen double-digit growth in sneaker sales with more than 1.5 million authenticated globally.
“With the demand for luxury fashion growing in Australia on eBay, wallets would be another category we could expand to," she said.
"In the United States, eBay’s Authenticity Guarantee includes other categories including trading cards and watches.
"The beauty of eBay’s Authenticity Guarantee is that it can be expanded to other luxury categories to give even more Australians the confidence to shop luxury items safely and securely. Watch this space."
The market for luxury retailing in Australia is approximately $4 billion and is projected to grow over the next five years. At eBay Australia, luxury handbags are listed every two minutes with the majority of those pre-loved.
In May, a Chanel lambskin heart bag from the luxury fashion house’s 2022 collection sold for over $10,000, higher than its RRP in store. By comparison, the most expensive sneaker sold in May was a 1985 Air Jordan 1 High Chicago for more than $5,500.
“Luxury handbags have never been more in demand," Eichhorn said.
"Globally, we’re seeing 69% of luxury shoppers buy pre-loved handbags because of their affordability and to find rare and vintage items.
“Since COVID, we’ve seen more Australians selling their pre-loved items. While this was driven by people spending more time at home cleaning out their wardrobes, it’s also a wider trend - led by Gen Z - with sustainably top of mind."
Another key trend is bricks-and-mortar consignment stores selling on eBay as part of a multi-channel strategy. Consumers have also been given pre-authorisation to resell their purchases.
"When someone is ready to re-sell their handbag, they simply scan their authentication card with a phone and can re-list the item on eBay in just a few clicks," Eichhorn said.
Handbags above $350 from 16 luxury brands are eligible for eBay’s Authenticity Guarantee. The most popular brands sold on eBay are Louis Vuitton, Gucci and Prada.
"It’s clear Australians are keen to get their hands on a luxury style that is high quality, holds its value over time and can potentially be sold for a profit later on," Eichhorn said.
“On eBay, the value of timeless designer handbags has increased significantly over the last few years - for example, Hermes Birkin (up 54%), Chanel quilted bags (up 45%) and Dior Saddlebags (up 84%).”
Eichorn said eBay Australia has a number of procedures to authenticate designer goods.
"According to the Australian Border Force, counterfeit handbags are one of the most commonly seized items.
“Sneakers and handbags are expertly authenticated via a physical multi-point inspection by our highly-trained authenticators.
"This process includes everything from the material quality to the construction of the sneaker or bag and hardware.
"When a buyer purchases an eligible item, just look for the blue tick, it is shipped to our Sydney authentication centre."
Once the item is verified is it shipped to the buyer with an NFC tag or card containing an encrypted digital authentication certificate featuring details about the item such as the brand, model and date of authentication.