The world of selling watches like everything else is small and vast simultaneously. You have many layers to watch selling that goes from the individual owner to large retailers. Then you have the elephants in a room of mice, the online behemoths. Chrono24 a scrappy upstart luring sellers with competitive fees and buyers with added supervision was delivered a huge blow by Ebay. Ebay doubtless have watched Chrono24’s rise with concern because collectibles is their bread and butter and watches being a cornerstone of the collectibles market Ebay was prompted to act. The action took the form of an authentication process free of charge. Any watch transaction over $2000 will be processed through Ebays hub in Dayton Ohio to be authenticated before being sent to the Buyer. Inversely any return will be processed through the same center to prevent buyers from pulling any tricks that have made Ebay notorious.
Although Likely that Chrono24 was the prime target of this move, other ecommerce players are finding themselves in the cross-hairs. Poshmark another California ecommerce platform that had two distinctive selling points, one being the social media aspect and the other is free authentication for any purchase over $500. One can conclude that Ebay will roll out the authentication either to other categories or price ranges and when this happens people might think twice about Poshmarks excessive 20% fee.
It remains to be seen whether this service is attractive enough for customers to force larger watch sellers to migrate back to Ebay. But one thing is certain, a war is brewing in the watch selling world.