eBay vault

[sportscardpete]

pretty big announcement today:

The market for trading cards and collectibles continues to accelerate, and eBay is the biggest trading platform for these investment categories. Today eBay announced the eBay Vault – a 31 thousand square foot, secure storage facility and digital marketplace for trading cards and collectibles, with plans to expand into luxury goods.

The eBay Vault will launch in the U.S. next quarter, and will provide peace of mind and convenience for the company's millions of buyers and sellers. Once an item is in the eBay Vault, customers know their valuables are secure and "instant sale" becomes the new reality. Ownership can transfer from seller to buyer in a matter of seconds – without the need to re-authenticate, re-package or ship the item anywhere.

Keeping high-value inventory within the eBay ecosystem is significant for both buyers and sellers – and the Vault will make other planned features, like fractionalization and live commerce, possible for a wider audience. eBay is the only marketplace that can deliver this full suite of capabilities at scale, and signals the future of collecting. Within a few years, eBay expects the Vault will hold up to $3 billion in assets, making it one of the largest stores of non-governmental assets in the world.

https://finance.yahoo.com/news/ebay-...193000292.html

[Snowman]

It was only a matter of time. And perhaps a little more insight into why they wanted to sever ties with PWCC.

Hopefully they don't f*ck this up like they do everything else...

[Dead-Ball-Hitter]

Good bye PWCC vault!

[parkplace33]

Vaults remind me of the batcave

[mrreality68]

PWCC, Goldin, and now EBay.

The more the merry

I think I am will turn my basement into a vault

[x2drich2000]

But is the Ebay vault in a tax-free state that will allow buyers to circumvent taxes? And has anyone else ever had the thought of what would happen if one of these vaults, or PSA, or SGC's buildings ever had a fire?

[Gorditadogg]

Originally Posted by mrreality68

PWCC, Goldin, and now EBay.



The more the merry



I think I am will turn my basement into a vault

We're living in a flippers paradise.

Sent from my SM-G955U using Tapatalk

[BobC]

Originally Posted by Dead-Ball-Hitter

Good bye PWCC vault!

Maybe not!

I didn't see in that article where it said this vault was going. If memory serves, both PWCC and Goldin have their vaults in states with no sales tax. Oregon and Delaware, respectively. I believe. I can still see some people using either of them to save a few bucks if Ebay puts their vault in a state that collect sales tax. In fact, if Ebay does put this vault in a state with sales taxes, depending on which state it is and what their sales tax rate is, it could actually end up costing someone more to use their vault if they live in one of the states with no sales taxes, or one that has a lower sales tax rate than the state the vault gets located in.

Also, the article gave no info on costs to use their vault, if they are insuring what they're going to be holding for you, what happens if they lose/damage something, and maybe most importantly, I certainly didn't see anything about Ebay making loans/advances to people for items being held in their vault. Those loans/advances are a big deal for PWCC I'm betting. Also, if you use PWCC's or Goldin's vaults, and want to sell something, I believe you just contact them and tell them what to sell, and they take care of the rest. So how is that going to work with Ebay and things held and subsequently sold from their vault? Maybe they're planning to set up their own separate company as a vault seller option, and end up competing against PWCC and Goldin. Or maybe they partner up with an already existing consignment seller, like Probstein or Greg Morris Cards, to handle and offer such a service to their vault customers. Kind of going along the same lines in partnering with CSG for their new authentication service.

A lot of unanswered questions for now. And this should be very interesting as it appears another big player may possibly be looking to vertically expand in our hobby industry. Another one of those things that make you go hmmmmmm!

[Lorewalker]

Originally Posted by BobC

Maybe not!

I didn't see in that article where it said this vault was going. If memory serves, both PWCC and Goldin have their vaults in states with no sales tax. Oregon and Delaware, respectively. I believe. I can still see some people using either of them to save a few bucks if Ebay puts their vault in a state that collect sales tax. In fact, if Ebay does put this vault in a state with sales taxes, depending on which state it is and what their sales tax rate is, it could actually end up costing someone more to use their vault if they live in one of the states with no sales taxes, or one that has a lower sales tax rate than the state the vault gets located in.

Also, the article gave no info on costs to use their vault, if they are insuring what they're going to be holding for you, what happens if they lose/damage something, and maybe most importantly, I certainly didn't see anything about Ebay making loans/advances to people for items being held in their vault. Those loans/advances are a big deal for PWCC I'm betting. Also, if you use PWCC's or Goldin's vaults, and want to sell something, I believe you just contact them and tell them what to sell, and they take care of the rest. So how is that going to work with Ebay and things held and subsequently sold from their vault? Maybe they're planning to set up their own separate company as a vault seller option, and end up competing against PWCC and Goldin. Or maybe they partner up with an already existing consignment seller, like Probstein or Greg Morris Cards, to handle and offer such a service to their vault customers. Kind of going along the same lines in partnering with CSG for their new authentication service.

A lot of unanswered questions for now. And this should be very interesting as it appears another big player may possibly be looking to vertically expand in our hobby industry. Another one of those things that make you go hmmmmmm!

Hi Bob,

Good points, as usual. I am waiting for them to announce an acquisition of CCG, parent co to CSG, NGC, CGC and others. Now that eBay has a vault and are using CSG to authenticate ungraded cards, I figured it would only be a matter of time before they take grading in house and make themselves a one stop shop for multiple collectibles to really attempt to put pressure on the PSA/Goldin.


Chase

[BobC]

Originally Posted by Lorewalker

Hi Bob,

Good points, as usual. I am waiting for them to announce an acquisition of CCG, parent co to CSG, NGC, CGC and others. Now that eBay has a vault and are using CSG to authenticate ungraded cards, I figured it would only be a matter of time before they take grading in house and make themselves a one stop shop for multiple collectibles to really attempt to put pressure on the PSA/Goldin.


Chase

That's what I'm starting to believe also Chase. They're thinking like the major sports leagues, and their players, who bought into Fanatics, and then turned around and basically gave themselves the exclusive sports card production rights going forward. And they used that move to then go after and acquire Topps for about half what their cancelled IPO was supposed to be worth. Fanatics is looking to vertically expand their footprint and presence in the primary sports card market, while Ebay may be looking for vertical expansion more in the secondary market. Don't think we've seen all the moves by either of them yet.