eBay officially launched its new eBay Vault program that allows buyers and sellers to store their collectible trading cards in a physical warehouse operated by the marketplace. Beginning today, single, graded trading cards that sell for $750 or higher are eligible for eBay vault access – and soon, eBay Vault will accept direct submissions.
eBay will display a badge next to listings that are stored in the eBay Vault to provide them with greater visibility. Buyers browsing eligible cards not housed in the vault will have the ability to opt-in when completing their purchase.
The company explained, “eBay vault eligibility requires assets to have been bought for $750+ in the U.S., purchased directly on eBay, and graded by top graders in the category, including: Professional Sports Authenticator (PSA); Sportscard Guaranty Corporation (SGC); Certified Collectibles Group’s affiliates, CGC Trading Cards, Certified Sports Guaranty (CSG); and Beckett Grading Services (BGS).”
By 2023, eBay Vault will expand to include additional collectibles categories and luxury goods. Within a few years, the eBay vault is expected to hold up to $3 billion in assets, “making it one of the largest stores of non-governmental assets in the world,” eBay said in today’s announcement.
Fast Company interviewed a seller who was invited into the program early:
“Already, Rick Probstein, an early invitee to the vault whose business trades on eBay as probstein123, says he has more than 200 items in the vault, including cards collectively valued into the millions of dollars, such as rookie cards of Babe Ruth and Michael Jordan. He says eBay helped him transfer items to the vault by armored car.”
On the eBay Vault landing page, eBay states collectors will soon be able to send cards they already own to its vault, which, by the way, is a “31-thousand square foot, 24/7 secured, temperature controlled facility and digital marketplace for collectors”:
Coming soon: direct submissions
You’ll be able to send cards already in your collection directly to the eBay vault. We’ll take high-quality photos of the front and back of the card, and document all the details for your viewing pleasure and to make the listing-to-sell process seamless.
eBay didn’t invent the concept of what it now calls the eBay Vault, and in fact, it used to promote PWCC’s Vault, which helped it observe how collecting has changed in recent years.
Dawn Block, VP Collectibles, Electronics and Home at eBay, said in today’s press release: “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.”
A selling point for collectors includes the future ability to “fractionalize” collectible ownership. “The eBay vault not only enables users to manage their collections effectively and efficiently, but fosters the ability to engage in fractionalization while bringing an added layer of trust and confidence to every transaction through eBay’s Authenticity Guarantee,” eBay wrote.
As Fast Company explained, fractionalization allows multiple people to essentially own a share of a valuable collectible.
Check out the eBay Vault and let us know what you think.
Update: See, “The Cost of Buying Collectibles Stored in the eBay Vault” (June 21, 2022).
easy pass….. can’t trust fleecebay
“Check out the eBay Vault and let us know what you think.”
Not much. eBay really has to prove their competence at this. Their record with past updates and innovations is shaky at best.
There are already questions in the Community boards over what that image is supposed to represent, as they have been vague to date (perhaps understandably, for security reasons) over exactly where the “vault” is (okay, it’s someplace in Delaware) or what it looks like, nor have they said that stored cards could be visited or viewed in person. The image suggests a big overlit art gallery, though any vintage card displayed like that would soon end up bleached and discolored.
Sounds very similar to what their former partner PWCC was already doing.