From an email I just received:
eBay is on a multi-year journey to create the world’s best watches platform and we’re on a path to be the leader in the luxury industry. For 25 years, we have been the premier destination for brands such as Rolex, Omega, and Tag Heuer, and today, eBay is one of the largest marketplaces for high-end watches in the world. With our dedication to the luxury watches space, we see an even brighter future.

More buyers are purchasing luxury watches on eBay than ever before

eBay is allocating dedicated marketing dollars to attract luxury watch buyers to our marketplace annually for the first time. We're marketing to watch enthusiasts with targeted campaigns that are resulting in unprecedented numbers of new and repeat luxury watch buyers. We also launched a dedicated social handle to reach watch enthusiasts with a community management team that focuses on this daily. Check it out at @eBayWatches on Instagram.

Buyer satisfaction has also significantly increased here at eBay. Authenticity Guarantee, our new post-sale authentication service, is helping luxury watch buyers shop with confidence while protecting sellers from fraudulent returns. Testimonials from sellers express their confidence in selling high value watches on eBay since their merchandise is inspected before it’s returned to them. Protecting our luxury watch sellers is a top priority at eBay and we’re working to ensure they’re protected from end to end.

Our targeted marketing campaigns and services that protect both sellers and buyers of luxury watches are working—the Watches category saw double-digit growth last year in Q4 over Q3. Looking ahead, we’ll continue to optimize our marketplace by creating better on-site experiences, relevant search results, and more efficient and effective ways to sell, as well as our continuing investment in driving traffic to luxury watches. We look forward to sharing new updates with you soon.

New escrow payment option for high value watches

As part of our ongoing focus on creating the best watches experience, starting the week of April 20, 2021, you will see an optional payment via escrow through our partner Escrow.com for luxury watch listings priced at $10,000 and up. Escrow can give you greater confidence when you sell high-value items by confirming your buyer’s identity. Escrow services are customary for many high-value purchases, such as home sales and business acquisitions. Both sellers and buyers of luxury items have asked us to incorporate an escrow payment option to facilitate wire transfers for high-value transactions on eBay. If you list watches priced at $10,000 or more, we recommend that you register with Escrow.com. Learn how to create and use an escrow account on Escrow.com

In addition, eBay covers any processing fees for escrow services so buyers won’t pay any additional fees.

What happens when a buyer chooses the escrow payment option

Escrow transactions differ from other sales in a few important ways:
• Either wire transfer or ACH electronic check can be used to fund an escrow transaction.
• When a buyer selects the escrow payment option for your luxury listing at checkout, eBay will redirect the buyer to Escrow.com. Following checkout completion, you will be notified by Escrow.com and eBay to create or log in to your Escrow.com account.
• The return policy for escrow transactions includes a 7-day inspection period. Your return policy will be overridden, even if you offer no returns, to the 7-day return option if the buyer chooses escrow.
• Payment will be held in escrow until the buyer has received and accepted the item, or the 7-day inspection period from the delivery date.

Learn more about the benefits of selling and buying with escrow. Also, join our new Watches Community Group to discuss selling with escrow.

Final value fee increases in the Watches category starting on May 3, 2021

Our broad-based multichannel marketing has helped increase new luxury watch buyer traffic on eBay. As we continue to focus on the luxury watches experience, we are increasing final value fees in the Watches (260325)category. This will allow us to invest even more in luxury watch marketing, social media, SEO, and product innovation as we drive towards becoming the leading platform for luxury watches.

New final value fees for non-Store and Starter Store sellers who use eBay to manage their payments

Jewelry & Watches > Watches, Parts & Accessories > Watches

Examples for a seller without an eBay Store

For a $7,500 watch transaction, a seller without an eBay Store will pay $584.05 in final value fees, which is an increase of $28.94. In this example, the final value fee as a percentage of the item price is 7.8%.

For a $15,000 watch transaction, a seller will pay $820.30 in final value fees, which is an increase of $80.13. In this example, the final value fee as a percentage of the item price is 5.5%.

New final value fees for Basic, Premium, Anchor, and Enterprise Store sellers who use eBay to manage their payments

Jewelry & Watches > Watches, Parts & Accessories > Watches

Examples for a seller with a Basic or above eBay Store subscription

For a $7,500 watch transaction a seller will pay $371.55 in final value fees, which is an increase of $28.69. In this example, the final value fee as a percentage of the item price is 5.0%.

For a $15,000 watch transaction a seller will pay $607.80 in final value fees, which is an increase of $79.88. In this example, the final value fee as a percentage of the item price is 4.1%.

The new final value fees for sellers who do not use eBay to manage their payments*

Jewelry & Watches > Watches, Parts & Accessories > Watches

As always, thank you for selling on eBay.

The Watches Team

 

Interesting about the escrow. Unfortunate about the increased rates. 15% for low value watches is really high.

 

Yes that is steep.

 

it is steep. for Low and for high valued watches. The escrow system though; is a good idea.

 

Wow - that is a very high price to pay. Do people use external escrow's with eBay and if so - what are the typical prices?

 

By introducing escrow, I think the bay's now clearly targeting C24. Let's see.

 

This is really bad for sellers. I would never sell expensive watches there now because they force you into escrow. If I have a like-new watch why would I allow someone to wear it for a week, get buyer's remorse, then return it for a full refund? That leaves me with a worn watch that may have scratches and creased straps. The old way allows you to set a no return policy that unless the watch is not what is described you can't return it.

 

If I'm reading correctly, it is optional. At least for now.

 

Going to be fun to watch them compete with Chrono24. I wonder where all the casual sellers who were using eBay will move to because of this. Etsy? LiveAuctioneers?

 

Don’t like the fees?

create a better service...

In my view I’m surprised eBay took this long to lock out that market. With this they own it.

 

• The return policy for escrow transactions includes a 7-day inspection period. Your return policy will be overridden, even if you offer no returns, to the 7-day return option if the buyer chooses escrow.

 

At least will create some competition and hopefully drive down fees across the board.

 

Yes, I saw that. I was talking about using the escrow service being optional. They repeatedly call it an optional payment method, an escrow payment option, and "recommend" that you use it. Maybe it will be required in the future.

 

Many AD's and secondary market dealers do not allow returns. This new escrow service will allow 7 day returns it means that the buyer could wear the watch, add wear to it, and return it for no reason other than they just don't want the watch. The seller will have to thoroughly document the condition of the watch when it is shipped. Does Ebay release the circumstances under which they will not honor a return to protect the seller?