News Jewelry News

【San Jose, Ca】eBay Expands Authentication to Jewelry with GIA Partnership

Jul 20, 2022

Editor’s Note

**Editor’s Note:** eBay has partnered with the Gemological Institute of America to extend its authentication service to fine jewelry, covering new and pre-owned items priced at $500 or more, including designer pieces.

eBay Expands Authentication to Jewelry with GIA Partnership

New and pre-owned jewelry sold for $500 and above will be eligible for the authentication service.
eBay is expanding its authenticity service to fine jewelry, with the help of GIA experts.
San Jose, Calif. — eBay is expanding its authenticity service to its fine jewelry offerings, teaming up with the Gemological Institute of America to do so.
Now, eBay will authenticate new and pre-owned fine jewelry sold for $500 and above, including designer jewelry from Bulgari, Van Cleef & Arpels, David Yurman, Cartier, and Tiffany & Co.
GIA experts and gemologists will verify the fine jewelry, authenticating the metal type, purity, and gemstone quality.

“Jewelry has always been a popular category on the marketplace, and its growth shows how consumer demand is only increasing,” said Tirath Kamdar, general manager of luxury at eBay.

eBay’s jewelry category has grown significantly over the past year, said the company.
Sales of Bulgari, David Yurman, and Van Cleef & Arpels were all up double digits month-over-month in May, while purchases of fine jewelry from brands like Chopard, Harry Winston, and Hermès rose 38 percent year-over-year in the past six months.
In 2021, eight pieces of jewelry were bought on eBay every minute, said the company, for a total of 4.2 million fine jewelry items sold. There are 7.8 million fine jewelry listings, on average, on eBay every day.

“As we continue to listen to our community of luxury enthusiasts in order to foster an even more trusted shopping and selling environment, expanding ‘Authenticity Guarantee’ to jewelry was a crucial next step for our luxury business,” said Kamdar.

When a shopper purchases jewelry with an “Authenticity Guaranteed” badge, that item is sent to GIA for a multi-point inspection.
Buyers can scan the code to access the jewelry’s documentation and learn more about the piece and the authentication process.

“GIA is the trusted independent source of knowledge, standards, and education in gems and jewelry; our mission is to protect consumers,” said Pritesh Patel, chief operating officer of GIA.

“Collaborating with eBay on its Authentication Guarantee extends our mission, helping to protect the millions of eBay fine jewelry buyers and sellers.”

Rolled Out for Jewelry

“Once fully rolled out, Authenticity Guarantee for jewelry will encompass more inventory than the initial service (eBay Authenticate) and is free for both sellers and buyers, as opposed to the seller taking only a percentage of their item’s final selling price,” explained a spokesperson.

“Authentication has always been crucial to jewelry, but it was equally important to us to figure out how to offer it in a way that encompasses a plethora of styles, items and brands at accessible price points so that it benefits as many sellers and buyers as possible.”

The authentication service was introduced in 2020, rolling out to watches, sneakers, handbags, and trading cards.
When verified, it’s shipped to the customer with a unique authentication card with a QR code.
If an item can’t be verified or is not consistent with the listing description, it’s returned to the seller and the buyer is issued a full refund.

If the buyer returns the item, it will first be inspected by GIA experts before being sent back to the seller.
eBay said it has authenticated more than two million items since launching the Authenticity Guarantee service and expects to exceed five million in the next two years.

Full article: View original |
⏰ Published on: July 20, 2022