eBay opens store that accepts pre-owned luxury items as currency
eBay has opened a store called Luxury Exchange that accepts pre-owned luxury items as currency.
Open during Jewellery Week in the heart of New York’s Diamond District, the store enables shoppers to exchange jewellery, handbags and watches from top brands like Gucci, Rolex and Van Cleef & Arpel.
When entering the store, shoppers have their luxury items appraised and assigned a value with which they can shop the store’s inventory of designer watches, handbags and jewellery. Once shoppers find items within their “currency,” they can make the exchange and walk out of the store with their new luxury goods.
However, if nothing catches their eye, they can visit an on-site photo studio and opt to list on eBay themselves instead of exchanging.
Tirath Kamdar, GM of luxury at eBay, said: “It’s never been easier for luxury enthusiasts to refine their collections in a trusted environment, and we wanted to create an IRL experience that reflects what’s happening on eBay every day. 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 Luxury Exchange follows an expansion of eBay’s Authenticity Guarantee to jewellery. The marketplace launched the guarantee in 2020, which also covers sneakers, watches, handbags and trading cards.
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