Recession drives millionaires to shop on eBay

20/08/2010 at 11:11

According to eBay residents of some of the most wealthy areas of the country are being driven to eBay to buy big name brands at knock down prices. Affluent area of London including Fulham, Wandsworth, Clapham, and Putney are flocking to eBay to source designer fashion at knock down prices.

Wealthy areas outside London are also showing the same trend. Alderley Edge – home to some of the UK’s best paid footballers – as well as expensive areas of Leeds, Edinburgh, Belfast, Morpeth and Cardiff have all recorded increased activity.

The study analysed the increasing number of people using the site who live in post codes which have some of the most expensive houses in the UK. The study suggests that the shopping habits of those who measure their wealth in hundreds of millions of pounds has remained relatively unchanged by the economic downturn. They still continue to buy directly from the big names in designer wear. However, the picture changes significantly in the next tier down, in areas where people have previously measured their wealth in mere millions.

eBay said “Our figures suggest that the only people in Britain to remain unaffected by the recession are the billionaires. Everyone else, including mere millionaires, are having to find new ways to continue to look fashionable for a fraction of the cost.”

Wealthy postcode areas showing the greatest increase in buying fashion on eBay activity include:

Clapham, SW4 up 339 per cent Homes costs up to £2.2 million
Leeds, LS17 up 327 per cent Homes cost up to £1.5 million
Fulham, SW6 up 233 per cent Homes cost up to £4.9 million
Hampstead, NW3 up 233 per cent Homes cost up to £11million
Putney, SW 15 up 205 per cent Homes cost up to £4.9 million
Cardiff, CF23 up 193 per cent Homes cost up to £1.7 million
Belfast, BT9 up 182 per cent Homes cost up to £1.4 million
Morpeth, NE 65 up 136 per cent Homes cost up to £1.6 million
Alderley Edge, SK9 up 129 per cent Homes cost up to £3 million
Edinburgh, EH14 up 110 per cent Homes cost up to £2.3 million
Kensington, SW7 9 per cent Homes cost up to £37 million
Knightsbridge, SW1 No increase Homes cost up to £47 million
Belgravia. SW1 No increase Homes cost up to £140 million