Ecommerce giant eBay has opened a store called the Luxury Exchange that will accept pre-owned luxury items as currency.
The store, which has opened during Jewellery Week in the heart of New York’s Diamond District, enables shoppers to exchange jewellery, handbags and watches from top brands like Gucci, Rolex and Van Cleef & Arpel.
When customers enter the store, their luxury items will be appraised and assigned a value with which they can shop the store’s catalogue of designer products, including watches, handbags and jewellery.
