Ebay is introducing a new “Authenticity Guarantee” service for all sneaker sales over $100 as it seeks to capitalise on the multi-billion-dollar sneaker resale market.
Ebay, which is estimated to sell the equivalent of one sneaker ever 1.5 seconds on its platform, is planning to roll out the authentication service for the most popular sneaker styles and brands this month.
By early 2021 all new and pre-owned trainers being sold for over $100 will be fully vetted and verified by a team of independent experts under its Authenticity Guarantee, much like its rival StockX.
Under its new system, sellers will be required to ship their trainers directly to Ebay’s authentication facility once they have been sold.
The shoes will then undergo a rigorous “multi-point physical inspection” carried out by third party authenticators from Sneaker Con to establish a checklist of product specifications.
If the trainers are deemed authentic, they’ll receive a physical Ebay tag before being sent to the buyer.
Ebay has struggled to capitalise on the increasingly lucrative sneaker resale market, expected to be worth $30 billion by 2030, due to its inability to guarantee items are not fake.
The Authenticity Guarantee was first introduced by Ebay for watches with a resale value of over $2000, and could yet be introduced to more collectable categories.
Last year President Donald Trump targeted Ebay, Amazon and Alibaba directly, accusing them of being a “Wild West” for counterfeit goods, pushing them to do more to tackle the proliferation of fakes on their platforms.
“Authentication has become an expectation for today’s consumers in categories of high passion and high value, and this program makes Ebay the most attractive platform for enthusiasts in these categories,” Ebay North America’s senior vice president Jordan Sweetnam said.
“Ebay operates the world’s most diverse sneaker marketplace – with the widest selection and best prices – and by removing any uncertainty with the buying process, our community can buy and sell with total confidence.”