What: eBay has launched a new luxury consignment service, allowing users to sell high-end items through its platform.

Why it is important: This initiative allows eBay to tap into the growing luxury resale market, offering a trusted platform for buying and selling authenticated luxury goods, which could attract a new segment of affluent consumers.

eBay has introduced a luxury consignment service, expanding its offerings in the high-end resale market. This new service enables users to sell their luxury items, such as designer handbags, watches, and jewellery, through eBay's platform. By providing authentication and consignment services, eBay aims to ensure the trust and security of transactions involving high-value goods. This move positions eBay as a competitive player in the luxury resale industry, appealing to consumers who seek both convenience and assurance in purchasing pre-owned luxury items. The launch of this service reflects eBay's strategy to diversify its marketplace and capture a share of the lucrative luxury consignment market.

eBay expands into luxury consignment market