Amazon Cuts Fees for Jewelry Sellers

RAPAPORT... Online retail giant Amazon has implemented a new tieredreferral fee that will reduce the cost of selling jewelry and watches on itssite. The change will primarily apply to the retailer's partnersoffering higher-priced luxury items, and could potentially attract more sellerswho wouldn't have listed under the steeper rates. The new fees took effect onJune 5, according to Amazon's seller fee schedule. Amazon has lowered the referral fee for jewelry sales from European partners to 20%on the portion of the item's price up to GBP 225 ($287) or EUR 250 ($283), and5% on the amount above that. Previously it was a flat 25% in the UK and 20% inGermany, France, Italy and Spain. Fees for watches have been reduced from aflat 15% to 15% on the portion of the price up to GBP 225 or EUR 250, and 5% onthe amount over that. That means a partner selling a diamond ring for EUR 1,000 ($1,132)on Amazon would have previously paid the retailer a referral fee of EUR 200($226), whereas the new fee would be EUR 88 ($99). Amazon lowered the fees for US-based sellers in February,with jewelry referrals reduced from a flat 20% to 20% for the portion up to$250 and $5% on the remainder. Watch sellers will pay the retailer 16% for upto $1,500, and 3% on the total purchase price over that. Image: An Amazon delivery box outside a home. (Shutterstock)