It’s been common for many years now for brands and retailers to open temporary “pop-up stores” in big cities around the holidays, but this year eBay put a unique twist on the concept. The eBay Luxury Exchange in New York City lets people bring in their luxury handbags, watches, and jewelry for an appraisal and then “shop” the store by exchanging their used goods for something else.
eBay wanted to create an “in real life” (IRL) experience that reflects what’s happening on eBay every day, according to Tirath Kamdar, General Manager of Luxury at eBay. “The Luxury Exchange gives shoppers an opportunity to appraise and sell their valuable goods, and add something new to their personal collections – just in time for the holiday season.”
The eBay Luxury Exchange was open November 16 and 17 in New York City (22 W. 47th Street). eBay explained how it works:
- Shoppers have their luxury items appraised and assigned a value with which they can shop the store’s inventory of designer watches, handbags, and jewelry.
- Once shoppers find an item(s) within their “currency,” they can make the exchange and walk out of the store with their new luxury goods.
- If nothing in the store catches a shopper’s eye, guests can visit the on-site photo studio and opt to list on eBay themselves instead of exchanging.
eBay said approximately 30% of US luxury shoppers surveyed believe the value of luxury handbags, watches, and jewelry was less volatile than other investment assets they owned, citing a Business of Fashion survey conducted in partnership with eBay in the US last month.
“More than half of these shoppers see their luxury items as a form of currency, and they think about their collections dynamically, as a way to trade for other items that they want,” eBay said. “What’s more, sixty-two percent of respondents report that they have sold items from their collection for more than the original purchase price.”
eBay used the Luxury Exchange event to promote the expansion of its Authenticity Guarantee to the jewelry category. “eBay launched Authenticity Guarantee in 2020, and the program now includes sneakers, watches, handbags, trading cards and now, fine jewelry,” it said.
eBay said its upcoming brand campaign called “Everyone Deserves Real” spotlights how the pervasiveness of “fakery” in pop culture contrasts with the very real world of eBay’s authentication service and its expert authenticators.
See eBay’s press release on PR Newswire.