eBay is trying to become the new StockX

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eBay. For over two decades now, it’s been the place where you go to sell and buy stuff. A digital marketplace where everything has value — even when it doesn’t — and where “stuff” is the operative word.

Now, having earlier this year announced the official opening of its new UK-based sneaker authentication warehouse — a move which follows in quick succession from the opening of a similar facility in the US — eBay is clearly looking to graduate from the world of “stuff” and move on to bigger and better things.

With other dedicated platforms already serving the resale market and thriving in the process – like the Kering-financed GOAT and the industry-leading StockX – it’s clear why eBay would want a piece of that action. After all, the global sneaker resale market was valued at approximately $28 billion in 2020, and it's only projected to keep growing.

It’s also clear exactly why eBay just is not like either of those companies – it's home to a mishmash of everything. Availability, not authenticity, is its defining hallmark. Any attempt to change that would mean fundamentally changing what eBay is.

The relationship between eBay and Sneaker Con is not a new one: 1.5 million pairs of shoes on the platform have already gone through the certification process.The acquisition, however, marks a turning point: eBay has judged that high-end sneaker resale will become a major part of the brand’s offering, and is investing heavily in it. In a business sense, it isn’t much of a gamble. But it is a flex.

One thing is clear from all of this: resale is flourishing. But it’s also still in its infancy – only one level up from grassroots. It’s clear why a company like eBay sees potential, but less obvious how the presence of such a behemoth could disrupt that industry at such a crucial point in time.