According to the latest news, eBay is launching a new sneaker authentication service to verify that shoes sold on the platform match what their listings claim. It is being claimed by the company that this program will cover all sneakers sold for over $100 in the US.
According to CNN, this new service will start from the 25th of October 2020 onwards. It will cover the most popular sneaker styles and brands. The report also conveys that by early 2021, it will expand to cover all sneakers sold for over $100 on eBay in the US.
TechCrunch notes that collectible sneakers are big business so some shoes are limited to only a few thousand or dozens of pairs. This means popular editions have the potential to get sold for up to thousands or even tens of thousands of dollars. However, this means the market is also ripe for counterfeiting. For example, only last year, US Customs and Border Protection officers seized over 14000 fake Nikes. They were being shipped from China to LA.
It should be noted that some of the companies have already tried their best to explore tech solutions but nothing can beat a physical inspection. A physical inspection is the single most reliable way to guarantee authenticity.
As per TechCrunch, these inspections can come down to small details like counting the number of stitches on a pair of shoes or something like that. Some sneaker focused e-commerce sites such as StockX and GOAT offers authentication services. This service has given them an advantage over eBay even though, the latter is more popular than the formers.
eBay has got some success with its previously introduced watch authentication service. The company joined hands with a third party company, Sneaker Con, to authenticate those. Here, as soon as a sale is made, the buyer ships the sneakers to an “authentication facility” where they were inspected to make sure they match the listing’s title, description, and images and this way, if they pass the inspection, an eBay tag is attached to them otherwise, they were resent to the buyer. The best part is, the same process covers returns so this literally stops unscrupulous buyers from trying to return fake sneakers to legitimate sellers. In short, with this, eBay literally introduced a revolutionary authentication service.
Even though eBay has not offered a sneaker authentication service so far, these sorts of shoes are still a popular item to sell on the platform. In a report, eBay claimed to have sold almost 6 million pairs of sneakers last year. Another good part of the story worth a mention is, eBay is offering this authentication service without any seller fees for sneakers sold for over US $100. It seems that the company is going to attract more buyers and sellers of sneakers to its platform soon.