A Detailed Review Of The eBay Vault: How Collectors Can Benefit
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The idea of vaults isn’t new to the hobby, but the new eBay vault improves on existing vaults while offering a service that is directly linked to the biggest sports card marketplace in the world. On top of that, collectors who take advantage of the vault now get in on some nice perks for being first-movers.
In today’s article, we’ll be giving a detailed review of the vault, from how to use it to what it offers. And if that piques your interest, this is going to be the first article in an all-inclusive eBay vault review and tutorial series. Come back to learn more!
An introduction to the eBay vault
eBay’s vault, in a nutshell, is a secure location in which you can store the high-dollar cards you purchased on eBay and then use the same service to sell them without paying sales tax, storage, or selling fees. It’s a great idea and incredibly easy to use.
Anybody can participate, you just need to visit this page and opt-in.
If you’re looking to peek behind the curtain, here’s the rundown: the vault is a 31,000-square-foot, secure storage facility located in Delaware. Everything stored in the vault will be fully integrated into the eBay digital marketplace, so it can be viewed and listed painlessly.
While eBay plans to eventually use the vault for luxury goods as well, the focus on trading cards to get it started is another positive indication of eBay’s commitment to the hobby and collectors. More than any company since 2020, eBay has made moves in the best interest of all sports card investors.
How does the eBay vault work
The vault is exceptionally easy to use. Enroll to use it from the main landing page, and then you just opt-in with a couple of pop-ups that ask you to acknowledge you understand how the vault works and what you agree to (seriously, though, read the details for yourself and don’t take my word for it).
Throughout the process, you’ll also be asked to enable two-factor authentication to keep your account extra secure. Doing so logged me out on all platforms, so be sure you have your password handy. I definitely know mine and did not have to reset it. For sure.
Then, all you have to do is buy an eligible card worth $250 or more through eBay to add it to your collection.
So what’s an eligible card?
Per eBay, “For now, the eBay vault will accept singles, graded trading cards and graded, autograph, relic, and patch cards $250+ that are directly purchased on eBay.
Only cards graded by the following graders will be accepted: 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).”
After you buy that eligible card, you send your card to the vault at checkout. eBay has a team of PSA experts that will verify your card before welcoming it into the climate-controlled facility.
From there, you can instantly buy and sell cards within the eBay vault. Cards will be sold with pre-populated listings and insured shipping, all handled by eBay.
Cons of the eBay Vault
I’m starting with the “cons” because I want to front load this section with an important confession…
I was a skeptic.
I’ve collected cards my whole life, and while I do it to make a profit by flipping them (there’s nothing like the rush of capitalism), I also view myself as a collector moreso than an investor.
And, of course, the beauty of “collecting” cards is being able to organize them in three-ring binders, boxes, or however, you see fit and thumb through them any time you want. Sometimes the “wow, I didn’t remember I had this rookie card” feeling with a young breakout star is the most rewarding part of the hobby.
That said, my skepticism about the vault was that it removed the in-person, tangible element of collecting physical sports cards and turned it into something removed and detached, almost like NFTs.
But, those concerns were washed away when I realized something else…
Pros of the eBay vault
You can make a lot more profit and save yourself tremendous amounts of time using the eBay vault.
Yeah, that’s kind of the point. I get that. But the structure makes a lot of sense for somebody who is looking to make money on sports cards without much free time to handle sorting, listing, fulfilling and all the other elements of maintaining a sports card store on eBay.
And, as another refute to my complaints from the cons section, you still own physical cards – even if they’re stored in the vault. It’s not a NFT like in that your “digital asset,” per se, is backed by a real card that you can withdraw from the vault if you so desire. That alone makes it feel more… real.
The fee structure is amazing, too. You don’t pay sales tax when you ship or sell within the vault, nor do you pay storage or selling fees on vault transactions. That’s about a 12% profit boost per sale. Sale $10,000 cards in a month and that makes you an extra $1,200 – not a small amount of money.
On top of that, every card in the vault comes with eBay’s new Authenticity Guarantee so you know the cards are legit. If you’ve ever been burned by a fake card on eBay, this is some nice peace of mind.
Reasons to sign up for the vault ASAP.
The list of eBay vault pros extends to some more time-sensitive ones that encourage you to sign up now.
For example, eBay has waived the vault buyer’s premium for 2022. After that, buyers pay 3% of the purchase price to transfer ownership instantly.
On top of that, you won’t pay storage fees until Summer 2024.
You’ll also be eligible for direct submissions in 2023, meaning you can submit your own cards to the vault from your collection for “secure storage and easy trading.”
Conclusion: Don’t miss out on the eBay Vault
The eBay vault carefully weighs the pain points of sports card sellers and addresses them with an all-in-one answer to help collectors make better profit on their collection while working less.
We highly encourage you to get in on the vault. Moreso, even, get in on the vault today so you can take advantage of all the collector-friendly perks that are ongoing.
Your time is money – and your fees are money too – so sign up for the vault today to take advantage of eBay’s awesome new service.
If you have already started with the eBay Vault, be sure to check out tips for buying and selling through the service.