e recently interviewed a broad selection of managers, active in a variety of segments, to help us identify the major trends within the watch industry.
Our Q&A with Tirath Kamdar – eBay.
Europa Star: What are your strategic priorities for 2023?
Tirath Kamdar: eBay has nearly 30 years of history fostering its global marketplace, and in 2023, it remains our priority to deliver a trusted, elevated experience and unparalleled selection while connecting enthusiast communities and empowering businesses. eBay’s Authenticity Guarantee service, and other commerce innovations, provide an added layer of trust and confidence in high value transactions, making eBay the premier destination to buy, sell and invest in luxury online.
- Tirath Kamdar
Which brands or types of brands do you think have the highest potential for growth this year?
Thanks to our vast inventory and audience reach of active buyers, eBay serves as a cultural barometer for what’s new, now, and emerging. In 2023, we’re seeing enthusiasts flock to nostalgic classics that have stood the test of time – specifically from Breitling, Omega, Rolex, Seiko, and TAG Heuer, which were top selling luxury watch brands on eBay globally over the past year (Feb 2022-Jan 2023). We also saw that the number of sales of classic styles like the Omega Speedmaster were up over 150% in January of 2023 compared to January 2022.
Other classic dress watches like the Audemars Piguet Royal Oak Offshore and subtle designs that embody the “quiet luxury” style trend like the Patek Philippe Calatrava were up approximately 90% during the same time period. Additionally, we’re seeing consumers increasingly seek out unique brand collaborations. For example, the number of Moonswatches sold in January 2023 was up nearly 200% from the watch’s initial release in March of last year. Other unique collaborations like TAG Heuer X Porsche and Timex X Coca Cola were top sellers on the platform last year and we expect to see that sort of trend continuing into the second half of 2023 in the US.
The emergence of the secondary market represents a major new development. Are you taking any steps to build a presence in preowned?
As more brands embrace the secondary market, we look forward to working towards the shared goal of ensuring a more trusted and authentic market for pre-owned luxury goods. We recently expanded our Authenticity Guarantee to include fine jewellery in the US, and internationally, the service is available for handbags and watches in the UK and Germany.
We also launched a new programme called Certified by Brand, partnering directly with brands and brand-authorised sellers to scale their presence in the secondary market. Through this programme, inventory will be sold directly from brands or brand-authorised sellers, complementing eBay’s Authenticity Guarantee to create a more trusted, confident marketplace.