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Posted: 2020-10-12 19:18:51

EBay takes a bite at StockX and GOAT with sneaker authentication for sales $100+ in the US

ebay attempts to clone StockX & GOAT authentication service

From Matthew Panzarino at eCommerce – TechCrunch
Originally published 2020 10 12
EBay is announcing today that it’s going to start authenticating sneaker sales over $100 in the U.S. This is a clear bite into the dominance of StockX and GOAT in the limited sneaker universe. The authentication will be done by Sneaker Con, the company that runs, well, Sneaker Con. Founded by Yu-Ming Wu and Hayden Sharitt, Sneaker Con was infused with cash by Visionary Private Equity Group in 2018. They provide a well known and influential backer in the sneakerhead community that should provide a solid signal for buyers and sellers. It’s a good choice.
EBay’s reluctance to spin up a person-in-the-middle authentication program allowed a gap for StockX and GOAT to thrive, offering authentication for new and, in GOAT’s case, even pre-owned sneakers. The eBay authentication tags even look like those offered by the two players. EBay had already launched its Authenticity Guarantee for watches over $2,000 (StockX also sells watches).
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Tags:eCommerce,TC,Wearables,authentication,collecting,consumer goods,Culture,eBay,Fashion,sneaker,stockx,United States