The eBay vault is now live.
The company says single graded trading cards valued at $750 or more can now be housed in a 31,000 square foot, 24/7 secured, temperature controlled facility in Delaware. Company officials say the vault can be used by collectors to sell and buy graded cards without shipping them and also puts eBay in the mix for offering cards via fractional shares.
“eBay is the only marketplace that has more than two decades of deep collectibles category expertise,” stated Dawn Block, VP Collectibles, Electronics and Home at eBay. “As we continue to see exponential growth in the category as enthusiasts merge their passions with investment opportunities, the eBay vault is a critical offering that will let collectors streamline and securely store their portfolio of assets. It’s truly the future of collecting.”
To be eligible for vault storage, cards must have been authenticated and graded by PSA, SGC, CSG/CGC or Beckett and purchased directly on eBay for at least $750.
Prospective buyers can identify cards that are already stored in the eBay vault via a “badge” in the listing, while buyers browsing eligible cards not already housed in the vault will have the ability to have their cards sent there when completing their purchase. Before storage in the vault, cards must pass eBay’s free Authenticity Guarantee program.
Once an item is in the eBay vault, “instant sales” becomes a reality with ownership transferring from seller to buyer in a matter of seconds, and no need to re-authenticate or ship the item anywhere. eBay envisions fans and collectors buying and selling cards of popular players while watching games or reacting to news involving a player, much like sites such as COMC.
When collectors ship a card or store one in the eBay vault, no sales taxes are charged. When one is purchased from a seller using the vault, eBay will collect sales taxes as required.
While eBay is waiving its own selling fees for the remainder of this year, the company will institute charges for instant transfer sales and for pulling and shipping cards beginning next year.
eBay says vault users are able to monitor the real-time market valuation changes of their portfolios through eBay’s built-in price guide.
There is no time limit for storing in the eBay vault, which is “designed for long-term, secure storage,” according to the company. Only eBay account holders who are registered in the United States are eligible.
eBay worked with a few sellers to get the project going. A company spokesperson says the vault already includes cards from Rick Probstein, DJ Skee and TCA Gaming with other high-value cards expected to be added soon including PSA 10 Michael Jordan rookie cards and vintage cards of Babe Ruth, Ty Cobb, Honus Wagner and Jesse Owens.
By 2023, the vault will expand to include items from additional collectible categories and luxury goods. Within a few years, eBay claims its vault will hold up to $3 billion in assets, making it one of the largest stores of non-governmental assets in the world.
More information on the Vault program is available here.