The All-New eBay Vault: Answering Your Questions ￼￼
At a time when high-end sales continue to reach new heights in the hobby, many are using secured vaults to store their sometimes multi-million dollar assets. Platforms such as Alt, PWCC, and Goldin all offer a vaulting program to keep the best cards in the world safe. And now, the biggest online trading card marketplace is introducing the all-new eBay Vault, a 31,000-square-foot facility to alleviate the worries of protecting high-end cardboard.
eBay’s vault, which was released in early June, is one of many new services that the site has debuted this year. Authenticity Guarantee, a partnership with several grading companies, is another resource that shoppers can use to verify their trading card purchases. This free inspection has become a great way to combat the rise of reprinted cards and potential scams. But it is the new vault service that has caught hobbyists’ attention over the last few days. It will hopefully grow the digitalization of high-end trading, as users will be able to send their cards to other vaults as well. eBay continues to grow its foothold in the collectibles industry, and it hopes to expand programs like the vault into different collectible categories by next year.
I was fortunate enough to connect with some great individuals on eBay’s team and ask them a few questions about the vault and its future. They are taking the growth of the vault very seriously, so I am excited to see how it develops into a multi-faceted tool for the collector. The first four questions I had were answered by Bob Means, the Director of Trading Cards at eBay. The rest is information that eBay has released for collectors that are eager to learn more and find a spot in the vault.
So, without further ado, here are some answers to questions you may have about the brand new eBay vault:
1. Briefly describe the all-new eBay vault and its amenities. What makes the eBay vault different from other platforms?
BM: The eBay vault is a secure, temperature-controlled facility that delivers an unparalleled collecting experience for our community. It offers benefits like instant transfer, authentication, insurance, fractional ownership, affordable shipping and a tax-free storage location. 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. Cards in the vault go through eBay’s Authenticity Guarantee so collectors can buy and sell with total confidence.
The eBay vault is truly the future of collecting and this is a natural evolution as we see enthusiasts investing differently. They are turning passions such as trading cards, collectibles, and NFTs into their own asset class. The vault provides customers control and peace of mind - the ability to manage collections digitally and knowing that their valuables are secure.
Our experience in collectibles is unparalleled. eBay is the only marketplace with over 26 years of expertise. This gives us the credibility to deliver our full suite of physical and digital capabilities at scale.
2. Can we expect to see on-site submissions to the vault? Perhaps at the National or other large trading card conventions?
BM: We’re currently working on our plans for submissions and hope to announce direct submissions in the near future. For the latest updates on service expansion, stay tuned to ebay.com/vault and @ebaycollectibles on social.
3. Briefly run through the process of shipping a card out of the vault.
BM: Once you’ve decided to retrieve your card out of the eBay vault, our dedicated team meticulously packages the cards in custom protective packaging. We provide tracking information, accordingly. Buyers and sellers can track shipping as they normally do for other purchases on eBay. They will get a notification when the item has shipped from the seller. Then, a second notification when it has arrived at the eBay vault. In between, they will see when it has arrived at our Authenticity Guarantee partner’s facility and passed inspection.
4. What are the fees for using eBay’s vault?
BM: Currently the only fee connected with the vault is when you withdraw a card you own that you’ve stored in the vault. For now there is no fee to store a card in the eBay vault. When ownership changes for a card in the eBay vault, there is no cost to the buyer or seller. We don’t have a set date and it won’t happen in 2022, but there will ultimately be a processing fee for this transaction. As we continue to invest in the platform and scale the service, we’ll evaluate the need for any additional changes.
The rest of the questions/answers are derived from the eBay FAQ page for the vault, which can be found here.
5. What are the requirements for a card submitted to the vault?
The item must be a graded trading card that has sold for at least $750 on eBay.com, not including taxes and fees.
6. Are NFTs eligible for the eBay vault?
No, NFTs are not eligible for the eBay vault.
7. Can I send my at-home collection to the eBay vault?
At this time, only cards purchased directly on eBay are eligible for the eBay vault at checkout. Check back for updates.
8. How does sales tax work when I buy and sell in the eBay vault?
When you ship or store a card to the eBay vault, you will not be charged sales taxes. Owners or purchasers may have a use tax responsibility upon withdrawal of a card from the eBay vault. Please consult with your tax advisor to understand your individual responsibility. When you sell or purchase a card that is shipped from the eBay vault, eBay will collect sales taxes as required.
9. And finally, how do I enroll in the eBay vault?
Enroll in the eBay vault with your eBay account. If you haven’t already, you’ll need to sign up for two-step verification. We want to make sure that the eBay vault and everything in it is secure. That starts with securing your account. Set up two-step verification in the Sign in and security section of your Account settings.
Only eBay account holders who are registered in the United States are eligible. Certain users will also be required to provide a name, address, date of birth, and last four digits of their social security number.
There is more information available on their website regarding the all-new eBay vault, but those questions in particular have been asked repeatedly within the card community. Text VAULT to 20633 to be alerted as new features are announced or added. It’s an exciting time in the hobby, and we are all excited to see if services like this emerge to protect our favorite cardboard assets.
Let us know what you think of the all-new eBay vault @cardtalkpod on Instagram and Twitter! Will you be using it in the future to keep your slabs safe?
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