Natural Diamond Prices – November 2024
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Launched in July 2022, eBay’s Authenticity Guarantee service now includes fine jewelry from leading brands such as Bvlgari, Tiffany & Co., Van Cleef & Arpels, and Cartier, thanks to a partnership with the Gemological Institute of America (GIA). eBay’s launch of authentication of fine jewelry comes as the marketplace’s luxury categories continue to gain momentum with double-digit growth.
Learn About eBay
eBay Inc. is a global e-commerce company that connects people and communities in order to generate economic opportunities for all. Their online platform supports millions of buyers and sellers in over 190 markets worldwide. Founded in 1995 in San Jose, California, the company is one of the world’s largest and most lively “marketplaces” for finding amazing deals and one-of-a-kind items. In 2021, eBay facilitated more than $87 billion in gross merchandise volume.
Learn About GIA
The GIA (Gemological Institute of America), a non-profit organization founded in 1931, is recognized as the world’s premier authority of gemology. The GIA originated the famed 4Cs (Color, Clarity, Cut, and Carat Weight) and the International Diamond Grading SystemTM in 1953, which is acknowledged as the gold standard for diamond quality across the globe.
The institute is committed to guaranteeing public trust in gems and jewelry by upholding the highest standards of honesty, science, and professionalism via research, education, gemological laboratory services, and gemology equipment development.
What Does This Authentication Launch Mean?
This marks the expansion of eBay’s authentication service to its fifth category, which already includes luxury and collectible sneakers, watches, handbags, and trading cards. Eligible new and pre-owned fine jewelry that sell for $500 USD or more will be eligible for the authentication service.
“Jewelry has always been a popular category on the marketplace, and its growth shows how consumer demand is only increasing,” said Tirath Kamdar, GM of Luxury at eBay. “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 jewelry was a crucial next step for our luxury business.”
“GIA is the trusted independent source of knowledge, standards, and education in gems and jewelry; our mission is to protect consumers,” said Pritesh Patel, GIA Chief Operating Officer. “Collaborating with eBay on its Authentication Guarantee extends our mission, helping to protect the millions of eBay fine jewelry buyers and sellers.”
Since establishing the Authenticity Guarantee in 2020, eBay has authenticated over two million goods across authenticated categories, and the program is likely to reach five million items in the next two years. The inclusion of fine jewelry in eBay’s Authenticity Guarantee service expands on the marketplace’s current selection of luxury products supported by the authentication service, supporting the marketplace’s expansion as a top luxury destination. Jewelry authentication will be available to all qualified listings and recognized brands on the platform by the end of 2022, making it easier and more trustworthy than ever to view and buy high-end fine jewelry on the marketplace.
How Does eBay’s Authenticity Guarantee For Jewelry Work?
GIA professionals employ best-in-class procedures to ensure the authenticity and integrity of the jewelry in comparison to the listing. Every piece of jewelry that goes through eBay’s Authenticity Guarantee service is inspected by GIA specialists who check the item to ensure it matches the description. They also affirm that the item is in the condition and quality indicated in the ad. Our Authenticity Guarantee service works with GIA, the world’s foremost authority on gems and jewelry, so you can buy with confidence. The following are the specifics of the jewelry authentication procedure:
- Expert multi-point inspection: Jewelry is authenticated by GIA professionals with years of industry experience and understanding. GIA then conducts a multi-point assessment to ensure that your jewelry is genuine. GIA will courier your item to you safely after it has been validated and a signature is required upon handover.
- Verified jewelry will be given a one-of-a-kind authentication card with a QR code. Scan the code to access the documentation for your item and learn more about it and its authentication journey.
- Verified Returns: If an item is returned, it is reviewed by GIA professionals before being returned to the vendor. Returns are sent immediately to the authentication collaborators, who check their legitimacy.
eBay Jewelry Insights
- Every day, there are an estimated 7.8 million fine jewelry listings on eBay.
- In 2021, eBay sold 8 fine jewelry pieces every minute.
- eBay sold nearly 4.2 million fine jewelry pieces in 2021.
Have you purchased or sold fine jewelry on eBay? What are your thoughts on this new development? Let us know by clicking the comments button below.
