A recent Top 100 seller ranking from eBay has challenged conventional wisdom about e-commerce platforms being dominated by newcomers. The list reveals remarkable sales performance by established merchants and highlights the marketplace's unique ecosystem. According to Marketplace Pulse's research, top sellers on eBay generate staggering sales volumes, with some reaching billions of dollars annually.
UK's musicMagpie Leads the Pack
British company musicMagpie topped the ranking, having sold 36 million items since 2011. The secondhand electronics specialist, which began by trading CDs and DVDs, has expanded successfully across eBay and Amazon, gone public on the London Stock Exchange, and established its website as a leading UK recommerce platform. musicMagpie's success underscores the substantial potential of the secondhand goods market.
Following closely were worldofbooks08 and mediops, ranking second and third with 28 million and 19 million items sold respectively. These figures demonstrate the formidable presence of top-tier sellers on eBay's platform.
Reseller-Centric Business Model
The report notes that most eBay sellers generate their primary revenue through the platform. While many operate on other marketplaces including Amazon, their core business models remain eBay-centric. Unlike Amazon, eBay hosts relatively few private label sellers, instead featuring predominantly large-scale resellers with substantial inventories. This characteristic contributes to eBay's more diversified ecosystem.
Anglo-American Dominance with Chinese Contenders
UK and US sellers comprised the majority of the Top 100 list, demonstrating these nations' strong influence on the platform. Their extensive experience and mature operational models have helped them excel in competitive markets.
Notably, 11 Chinese stores secured positions in the ranking. jewelryfindingshop, mhestore2009, and d-light-factory emerged as China's top three sellers, specializing in jewelry components, automotive decorations, and lighting/heating equipment respectively. These stores maintain exceptional feedback ratings and have each sold millions of items, with jewelryfindingshop reaching 11 million sales, followed by 6.6 million and 5.5 million for the others.
Established Sellers Maintain Advantage
The research reveals that most Top 100 and even Top 1000 sellers have operated on eBay for over a decade. These veteran merchants benefit from accumulated experience and stable customer bases, capturing the lion's share of eBay's gross merchandise value (GMV). However, this concentration presents significant barriers for new entrants, contributing to an aging seller demographic.
Growth Challenges and Market Share Decline
While top sellers maintain robust sales, eBay's overall growth struggles persist. Between Q2 2019 and Q2 2022, while US e-commerce expanded by 80%, eBay grew just 15%. This lag has reduced eBay's market share from 10% a decade ago to 3.5% currently.
Marketplace Pulse data indicates eBay showed virtually no growth in the five years preceding 2020. Official projections place 2022's global GMV between $72.7-$74.7 billion—nearly identical to 2019's $72.1 billion and well below 2020's $87.6 billion and 2021's $87.3 billion.
Vertical Competition and Strategic Refocus
eBay has seen numerous historically strong categories captured by specialized platforms like Etsy, StockX, GOAT, and Facebook Marketplace. Nevertheless, eBay retains five categories exceeding $10 billion in sales: auto parts, electronics, collectibles, home/garden, and fashion.
The platform's revitalization strategy focuses on two approaches: doubling down on "focus categories" including luxury jewelry, sneakers, handbags, and collectibles like trading cards; and concentrating on high-value "enthusiast buyers" rather than expanding its customer base. These frequent shoppers, representing about 12% of buyers but generating disproportionate revenue, have become central to eBay's retention efforts.
Whether these strategic adjustments can reverse eBay's trajectory remains uncertain. In today's competitive e-commerce landscape, continuous innovation and market adaptation appear essential for sustained relevance.