eBay, the San Jose, Calif.-based online marketplace, began a $1 Jewelry Page, a hub for fine jewelry and brand watches for sale on eBay starting at $1.
Known as “Bidding Starts at $1,” the new page aims to increase sell-through rates for jewelry and watch merchants selling on eBay, says Shira Levine, eBay senior category manager.
For merchants, the new destination on eBay offers a means to liquidate items to an eager buying audience, Levine says. Reports from eBay indicate that merchants who sell jewelry items on eBay at starting prices of less than $1, with no reserve, have a significantly higher sell-through rate-the vast majority sell 100 percent of their listings. Zales and Ashford are just two of the well-known retailers already selling jewelry on eBay starting at $1.
“For retailers, this is an incredibly lucrative selling opportunity, especially for those merchants with excess inventory,” said Shira Levine, eBay senior category manager, Jewelry, Gemstones and Watches. “Buyers are intrigued with the opportunity to bid only dollars for fine jewelry and brand watch, and it’s proven that the bidding activity heats up on these auctions.”
In a very short time, eBay’s Jewelry category has become the largest online jewelry marketplace.
eBay is merchandising this new page within its Jewelry category home page, through site-wide banner ads and Internet network affiliates. In addition, this month, more than 1.3 million households across the country will receive a direct mail piece about the new page, distributed through Val-Pak Coupons, the familiar blue envelopes that provide consumers with discounted offers for products and services.
“Bidding starts at $1” is located at www.ebay.com/jewelrydollar.