Tuesday, December 17, 2019

eBay is Eliminating North American Seller Fees for Any Sneaker Sold at $100 or More

For the first time, the e-commerce site is eliminating fees for North American sellers on any sneaker sold for $100 or more, it announced on Tuesday. It previously charged fees of up to 10% for sellers, deterring some sneakerheads from using the platform. The move is an effort to further break into the global sneaker-resale market, which a recent Cowen & Co. analysts estimated could be worth $6 billion by 2025. Nearly 6 million sneakers were sold on eBay in 2019, according to eBay's sales data. Sneakers on resale marketplaces like StockX and Stadium Goods have gone for as much as $20,000. 
However, some resellers prefer to use their own websites and platforms to avoid having to pay a seller fee. "As the originator of the sneaker resale game, eBay continues to be a top source for emerging and collectible styles, and with high demand, we want our sellers and buyers to get in on the action," eBay's head of men's footwear and apparel, Jeff Chan, said in a press release. "For our community of diehard sneakerheads, eliminating selling fees allows them to turn their kicks into more cash to fund future purchases, and results in a more robust sneaker inventory for shoppers everywhere." eBay also said it had partnered with the sneaker-resale marketplace Stadium Goods and would launch a series of Yeezy sneaker drops beginning Tuesday and ending Friday.