eBay's new vault for trading cards also makes selling a breeze - Business Insider

Summary

Ebay just launched a 31,000 square foot, temperature-controlled facility to store valuable trading cards.

The cards, which must be worth at least $750, can be bought and sold in seconds without ever leaving the vault.

Ebay just launched a 31,000 square foot, temperature-controlled facility to store valuable trading cards.

The cards, which must be worth at least $750, can be bought and sold in seconds without ever leaving the vault.

This digital marketplace is aimed at collectors and investors who trade cards in real-time.

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Storing and trading valuable trading cards is going to be easier thanks to eBay.

On Tuesday, the company launched the eBay vault, a 31,000 square foot facility that is temperature controlled and has 24/7 security for graded trading cards worth $750 or more.

Although the vault is a physical storage facility, it's also a digital marketplace where buyers and sellers can browse and purchase cards — much like any other product on 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," Dawn Block, vice president of collectibles, electronics, and home at eBay, said in a news release .

Trading cards are eligible to be stored in the vault if they were purchased for $750 or more in the US, bought directly from eBay, and authenticated by graders like Professional Sports Authenticator (PSA) and Sportscard Guaranty Corporation (SGC).

When the trading card is in the eBay vault, ownership of the card can be bought and sold in seconds, and the item doesn't have to be re-authenticated or shipped anywhere.

"With no shipping delay, collectors are able to buy and sell in the midst of critical plays, in the final minutes of a tight game, and immediately on the heels of a trade or retirement announcement," eBay said in its announcement.

Fast Company reported that there's no additional fee for transactions that happen in the vault, and because the storage facility is in Delaware, there's no sales tax charge on transactions of items the vault. Dawn Block told the publication it's likely eBay will start charging a processing fee next year, and that the company will see if it needs to add other fees down the road.

Storing valuable trading cards in the vault not only offers it security, it also gives responsibility to marketplaces like eBay to keep the item in good condition.

The company's built-in price guide and collections tool also gives card traders the ability to watch real-time market valuations of their trading cards so they can spot opportune times to list their items.

The trading cards have no time limit in the eBay vault, but if a buyer wants to withdraw the card, the eBay vault team will package and ship the card to the buyer.

"At the moment, we are continuing to evaluate the transportation aspect of the vault service and will look to offer the necessary services to meet the needs of the community," an eBay spokesperson said. "Safety and security are integral to eBay's new vault service and all items are insured against loss, damage, and theft while stored in the eBay vault, at no additional expense to the owner."

For some people, that transportation might come as an armored car. Rick Probstein, who says he has more than 200 items in the vault, told Fast Company that an armored car with armed men helped bring his items to the vault.

The eBay vault plans to include other collectible item categories and luxury goods by 2023, and expects to hold $3 billion in assets in a few years, the news release said.

eBay's new vault for trading cards also makes selling a breeze - Business Insider
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