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Online marketplace eBay has partnered with the Gemological Institute of America (GIA) in order to expand its authentication services to jewellery.
As of 2022, eBay has more than 150 million active users and in 2020, the company generated more than $US10 billion in revenue.
More than 500,000 luxury items are listed on eBay at any given time, including fine jewellery, and in recent years eBay has explored authentication programs for valuable collectables such as trading cards and shoes.
Now, jewellery has become the fifth category within which eBay will offer authentication services.
As a part of the new partnership, GIA experts will verify each piece of jewellery to ensure the condition, quality, and description matches the listing. All verified pieces will receive a unique authentication card with a QR code, which buyers can use to learn more about the piece.
Tirath Kamdar, general manager of luxury at eBay, said increasing the services offered for jewellery was a logical next step based on growing popularity.
“Jewellery has always been a popular category on the marketplace, and its growth shows how consumer demand is only increasing,” he said.
“As we continue to listen to our community of luxury enthusiasts in order to foster an even more trusted shopping and selling environment, expanding authenticity guarantee to jewellery was a crucial next step for our business.”
He added: “The launch of authenticity guarantee for jewellery is an incredible milestone, and we’re thrilled by the immediate positive response we have seen from our communities of buyers and sellers.”
Rapaport News reports that the service will be offered for jewellery priced at $US500 and above.
According to eBay, 4.2 million pieces of fine jewellery were purchased from the site in 2021. The company added that sales from brands such as Harry Winston and Chopard had increased by more than 35 per cent since the beginning of the year.
GIA chief operating officer Pritesh Patel told JCK Online that improving public trust in the trade of jewellery was crucial.
“We bring decades of experience, talented and skilled staff, and unparalleled knowledge of gems and jewellery, and independence and commitment to ensuring the public trust in gems and jewellery to this important effort,” he said.
“GIA is the trusted independent source of knowledge, standards, and education in gems and jewellery; our mission is to protect consumers.
“Collaborating with eBay on its authentication guarantee extends our mission, helping to protect the millions of eBay fine jewellery buyers and sellers.”
eBay first offered authentication services in 2020 and the following year, began providing authentication services for wrist watches, including brands such as Rolex, Omega, Breitling, Cartier and Patek Phillipe.
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