Collectibles have become a "strong category" on eBay, with GMV exceeding US$10 billion in the past year

According to the latest data released by eBay, the transaction volume of collectibles on its platform has been growing strongly, with GMV exceeding US$10 billion in the past year. At the same time, eBay has also launched a number of services to enhance the sales of collectibles.

In its recent third-quarter earnings call, eBay announced that its GMV grew to nearly $18 billion, with collectibles contributing a large portion of that. Over the past 12 months, eBay's GMV reached approximately $72.8 billion, with collectibles accounting for 13%.

In addition, according to eBay CEO Jamie Iannone, in the past 12 months, more than 25% of eBay buyers have purchased at least one collectible on the platform. These buyers have the highest conversion rate, repurchase rate and retention rate on eBay. They are also one of the most frequent cross-category buyers on the platform, which has also driven sales of other categories on eBay.

To support the sales of collectibles, eBay has launched a number of new services and features in the past year or so.

In June 2022, eBay launched the "Vault" service, allowing US users to ship all their collectible cards valued at $250 or more to its "Vault" for storage, including non-eBay purchased collectible cards. In addition to providing safe storage conditions, the eBay Vault also provides authentic authentication services.

In July, eBay announced the launch of Vault Enhanced Submissions, which resulted in tens of millions of dollars worth of collectibles being added to the eBay “vault” in a single week, including a Jackie Robinson autographed card valued at approximately $1 million.

eBay has also made a “complete overhaul” of the condition grading system for collectible cards. New listings will now provide more precise details, including whether the card has been professionally graded and a numeric grade or one of several predefined card conditions.

Last year, eBay also launched eBay Live to cater to its growing community of collectors and enthusiasts, although the feature is still in testing. Currently, eBay Live is available on its app, and eBay is expanding the feature to more sellers and categories.

In the third quarter, eBay Live held more than 1,000 live events, welcomed its one millionth buyer, and GMV increased fourfold month-on-month.

Editor✎ Ashley/

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