October 17, 2017
eBay is going after a higher-end consumer with the launch of its "authenticate" program. Racked Senior Reporter Chavie Lieber says, while this market is booming, eBay is quite late to the game. As part of eBay's new program, the online auction site will allow sellers to verify that products are not knockoffs. Lieber says this is the first time eBay is getting hands-on with its inventory rather than just acting as a marketplace. This could mark a big pivot for the site. So far, The RealReal has dominated the market for high-end consignment. Lieber says shoppers have been comfortable with sites like The RealReal because products have been authenticated from the very beginning. To lure customers, eBay is offering a double money-back guarantee in case the product turns out to be fake.