LONDON – Luxury goods may be one luxury that eBay can no longer afford.
On Monday a French court ordered the Californian online auctioneer to pay 39.9 million euros ($62.9 million) to the luxury goods company LVMH for allowing the sale of counterfeit goods on its online auction site.
“We are very satisfied with this ruling,” an LVMH spokeswoman told Forbes.com. EBay said it would appeal the decision.
LVMH (other-otc: LVMHY – news – people ) closed up 0.8%, or 53 euro cents (83 cents), to 66.58 euros ($104.77) in Paris on Monday, while eBay (nasdaq: EBAY – news – people ) ticked down 0.3%, to $27.53 in New York midday trading.
Last month another French court ordered eBay to pay luxury goods maker Hermes 20,000 euros ($31,548) over the sale of three Hermes bags, including two fakes. (See “EBay’s Faux Pas”)
“The LVMH ruling is entirely consistent with the Hermes ruling,” said George Collins, an intellectual property lawyer at London-based business law firm LG.
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