At a time when Sotheby’s is auctioning off rare sneakers, you know the nature of investing has changed. Those changes are coming as Generations Y and Z are looking to invest in what they love, while changing the nature of what investment-grade goods look like.
eBay, for one has been leading the charge and looks to remain the go-to agent for its monetization. And, to combat counterfeiting while supporting the segment’s growth, the online marketplace is innovating. eBay has begun a series of pop-up authentication events, intended to give their collectors and sellers a new source to both authenticate and value their rare kicks, as well as high-end watches, and collector cards.
Sneakers and watches are two of eBays most popular luxury categories. There are more than a half-million sneaker listings on eBay, and over 165,00 luxury watches listed on any given day. And over the past year the marketplace saw a 10 percent increase for high-end time pieces like Rolex, whose sales have jumped 60 percent since 2019.
Authentication Station
The on-site authentication events are an extension of the recently expanded “Authentication Guarantee” services that eBay offers, utilizing an independent team of industry experts. It’s the same group that authenticated a $1 million pair of 1985 Air Jordon 1’s, signed by non-other than the “Air-apparent” himself.
The program first launched in LA’s Koreatown, back in November 2020 in a vintage, fifties-looking converted gas station. Participants handed the goods off to an attendant, who brought the items in to the inspection teams. The process was in full view via large outside screens, and successful assessments earned an eBay Authentication Guarantee. Participants were able to receive “on the spot” offers or elected to list the items themselves.
The East-Hollywood, LA experiment was successful enough to replicate. And pop-up authentication events took place this past Friday and Saturday in Atlanta. They are expected to again be replicated in Las Vegas, Seattle, Nashville, and Austin in coming weeks. Admissions to the events are free, without an appointment.
Playing A New Card
In a parallel effort, by late April eBay will add an imaging listing tool to its mobile app, designed to facilitate more efficient listings of trading cards. This is another category that has evolved from mere collecting to high-buck investing.
Beginning in late April 2021, eBay plans to launch an image listing tool in its mobile app to initially support Magic the Gathering cards and ultimately Pokémon and Yu-Gi-Oh! as well. Users will point their camera at the card and hold to scan. A list of possible matches will pop-up, along with details on game name, title, card set, number and rarity. After tapping the closest match, the user can add their details and pricing to post. eBay plans to add other collectable and trading cards to the offering later in 2021.
TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 103.40 points at 24,542.48.
In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.
The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.
The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.
The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.
This report by The Canadian Press was first published Oct. 16, 2024.
TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.
The S&P/TSX composite index was up 205.86 points at 24,508.12.
In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.
The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.
The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.
The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.
This report by The Canadian Press was first published Oct. 11, 2024.
TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.
The S&P/TSX composite index was up 0.05 of a point at 24,224.95.
In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.
The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.
The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.
The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.
This report by The Canadian Press was first published Oct. 10, 2024.
