Over the past few years, eBay has introduced authentication services for items like high-end timepieces, jewelry and sports memorabilia, but the e-commerce veteran has paid particular attention to authenticating and promoting sneakers on its platform.
eBay has bought out sneaker authentication service Sneaker Con, a company that gives sneaker-lovers the peace of mind that the kicks they’re purchasing are real. The acquisition builds upon eBay’s existing relationship with the service, which began back in October 2020 when eBay first launched its sneaker vetting process.
Many buyers and sellers preferred to shop sneakers through eBay as they’d be able to see photos of the exact shoes they’d be getting, instead of stock photos, and there were fewer fees compared with some rival sneaker marketplaces. Attracting this kind of buyer is also part of eBay’s larger strategy to drive enthusiasts to its site across various high-end categories, like handbags, watches, and sneakers, then benefit as they shop more items on eBay. The company recently noted the average sneaker buyer on eBay spends approximately $2,000 in other categories, for example.
As eBay invests resources into sneaker authentication, Poshmark has also waded into the space with its recent acquisition of Suede One, an online sneaker authentication company. The company folded Suede One's authentication tools into its Posh Protect and Posh Authenticate programs as part of the deal.
eBay offers its Authenticity Guarantee with not only sneakers but also luxury watches and handbags purchased on the platform. It also uses an unnamed third party to authenticate both types of items, which raises the question of whether eBay will buy out these services as well.
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