eBay just made a big move to help it dominate the multibillion-dollar sneaker resale industry

Amir Ismael/Business Insider

eBay is making itself more accessible for sneakerheads.

• eBay is eliminating North American seller fees for any sneaker sold at $100 or more, the company announced on Tuesday.
• The e-commerce company previously charged fees of up to 10% for sellers, which deterred some sneakerheads from using the platform.
• eBay has also partnered with sneaker resale marketplace Stadium Goods and is launching a series of sneaker drops this week.
• "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's head of men's footwear and apparel, Jeff Chan, said in a press release.
• Sign up for Business Insider's retail newsletter, The Drive-Thru.
• Visit Business Insider's homepage for more stories.

eBay is trying to win over sneakerheads.

For the first time ever, the e-commerce site is eliminating fees for North American sellers on any sneaker sold for $100 or more, the company announced on Tuesday. The e-commerce company previously charged fees of up to 10% for sellers, which deterred 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. analysis estimated could be worth $6 billion by 2025. Nearly six 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 middleman's 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 has also partnered with sneaker resale marketplace Stadium Goods and is launching a series of Yeezy sneaker drops beginning Tuesday and ending Friday.

NOW WATCH: How Ocean Spray cranberries go from the bog to your Thanksgiving table