|Tue Apr 27 2021 21:55:37|
eBay Ploy to Attract High End Inventory
By: Ina Steiner
eBay told sellers about its escrow service for high-end watches earlier this month, and this week, it told the rest of the world through a post on the eBay corporate blog
. The news got picked up in the press, including the Robb Report, a publication for the affluent and aspirational.
"Benefiting both parties in the transaction process, escrow is now available to those buying and selling luxury watches over $10,000, expanding the payment options for luxury watch enthusiasts in order to foster an even more seamless experience," eBay explained. It also rolled out escrow on eBay Motors
Scott Schenkel told Wall Street analysts about eBay's plans to launch escrow services during the January 2020 earnings call, just 4 months after stepping into the role of interim CEO (and 5 months before leaving the company).
"eBay wants to increase "buyer trust" with this new policy. eBay really needs to give some consideration to Seller Trust. To sell high dollar value items on eBay is beyond dangerous with the way eBay handles the return system. I would never recommend to anyone to sell high dollar value items on eBay. And that is solely from a seller's perspective. Unless you can lose the money without damaging yourself financially, I wouldn't do it."
It's very possible that while escrow may be thought of as a tool to boost buyer confidence, it may also be a way for eBay to ease seller concerns about using its platform to sell high-end goods.
Offering escrow may be more about attracting high-end inventory to eBay from sellers and dealers wary of the limitations of its seller protection policies.
Would you list a $10,000 watch on eBay? Would the availability of escrow influence that decision?
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