Ebay watch item8/7/2023 Managed payment sellers can save up to 35% in final value fees as compared to the final value fees they previously paid.”Īt the time, it also announced the launch of escrow for luxury watches when it planned to make it available by the end of the year, writing in its September announcement:Įscrow Payment: eBay is introducing escrow payment for high value watches to elevate the purchasing process for its buyer and seller communities. “For sellers who are active in managed payments, the marketplace is lowering final value fees in the Watches category for watches sold over $1,000. Update : Digging deeper into last week’s news, we recalled eBay’s announcement from September 8, 2020, when it lowered fees for sales of high-priced watches, writing: If you have any thoughts on what might be next on eBay’s radar screen in terms of new categories getting the “vertical” treatment fees escrow requirements authentication services – or anything else – let us know! If you’ve been paying attention, you know that eBay has been focusing a lot of attention on three categories: luxury watches, high-priced sneakers, and collectible trading cards – part of a new vertical strategy. “In addition, eBay covers any processing fees for escrow services so buyers won’t pay any additional fees.”īuyer and seller FAQs on Escrow are available on this page, where eBay states: “Currently, qualifying items sold at $10,000 or above require Payment with .” Learn how to create and use an escrow account on If you list watches priced at $10,000 or more, we recommend that you register with. 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. Escrow services are customary for many high-value purchases, such as home sales and business acquisitions. “Escrow can give you greater confidence when you sell high-value items by confirming your buyer’s identity. “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 for luxury watch listings priced at $10,000 and up. New escrow payment option for high value watches We also launched a dedicated social handle to reach watch enthusiasts with a community management team that focuses on this daily.”ĮBay announced a new escrow requirement at the same time: While social media and SEO are not generally areas that require large outlays, eBay wrote, “We’re marketing to watch enthusiasts with targeted campaigns that are resulting in unprecedented numbers of new and repeat luxury watch buyers. 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.” As we continue to focus on the luxury watches experience, we are increasing final value fees in the Watches (260325) category. “Our broad-based multichannel marketing has helped increase new luxury watch buyer traffic on eBay. We found one seller reacting to the fee increase on the eBay Seller Discussion Board, who said the 15% final value fee was “profit breaking.”ĮBay explained in its April 12th announcement that the fee increase in the Watches category was in order for it to spend more on marketing and product innovation – and it’s clear it’s all about luxury watches: (There are tranches for items that sell for over $1,000.) Sellers enrolled in Managed Payments with an eBay store currently pay 11.5% plus 30 cents for selling a watch up to $1,000.Sellers enrolled in Managed Payments with no eBay Store currently pay 12.35% plus 30 cents for selling a watch up to $1,000.Consider it a “luxe tax” for all watch sellers. The fee hike on sales of watches at any price is to pay for eBay’s marketing of high-priced, luxury watches. If you sell watches on eBay, you’ll pay higher fees beginning in May.
0 Comments
Leave a Reply.AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |