What is eBay vault? How eBay Vault Submission Works?

What is eBay vault? How eBay Vault Submission Works? 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.

eBay vault

What is eBay vault?

Today, eBay, one of the world’s top destinations for collectibles, announces a new trading card submission service for the eBay vault. Collectors, investors and professional sellers can now submit eligible graded cards valued at $250+ directly to eBay’s state-of-the-art facility and digital marketplace. The new service expands eligibility for the eBay vault beyond cards directly purchased on the marketplace, and also covers graded autograph, relic, and patch cards.

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Trading cards are increasingly viewed as an alternative asset class, and the ability to buy, list, sell and transfer ownership instantly is crucial for collectors who want to maximize price realization and build portfolios. With eBay’s new submission service, collectors can easily send an individual card – or their entire collection – to the eBay vault, for specialized long-term storage, expert third-party authentication, and streamlined transactions.

“”We know collectors – from those newer to The Hobby to professional sellers – all want to manage their high value trading card portfolios with complete confidence through fast, seamless transactions,” said Gene Cook, VP of Global Collectibles at eBay. “The eBay vault is backed by nearly 28 years of leadership in the collectibles category, and our new submission service delivers easy and secure buying, selling and storage for collectors to excel in the fast-paced world of sports collecting.”

The new submission service builds upon eBay’s advanced suite of collecting tools and capabilities, including Price Guide, eBay Collection, Image Scan and Authenticity Guarantee, which all support easier and smarter trading card transactions.

How eBay Vault Submission Works

The eBay vault is a 31-thousand-square-foot, world-class facility, and home to some of the rarest and most-coveted trading cards – including a 1952 Bowman Mickey Mantle PSA 8 and a Magic: The Gathering 1993 Black Lotus BGS 9.5.

With physical protection, including 24/7 surveillance, biometric authentication systems and intrusion detection systems, card owners trust that their assets are secure, while temperature and humidity controls maintain the pristine condition of these prized items. Additionally, all employees who work in the eBay vault undergo C-Suite-level background checks and are experts in working with high-value collectibles.

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To start the submission process, collectors should follow these steps:

  • Visit eBay.com/vaultsubmissions. Collectors can choose to send cards by mail, or drop off in-person. Graded cards, and graded autograph, relic, and patch cards valued at $250+ are eligible.
  • Input submission details using the eBay app, a web-based form, or via spreadsheet – whichever method is easiest and accommodates the volume of cards being submitted.
  • Cards from multiple categories (sports trading cards, collectible card games or non-sports trading cards) can be shipped in one submission.
  • Review and confirm submission details. There are no submission fees in 2023.
  • Follow the instructions for packaging and shipping, or for drop-off.
  • Track the submission progress online with regular order confirmation, shipping confirmation, and authentication update emails along the way.

eBay vault

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.

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.

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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.

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.

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.

eBay vault

Above is information about What is eBay vault? How eBay Vault Submission Works? that we have compiled. Hopefully, through the above content, you have a more detailed understanding of eBay vault. Thank you for reading our post.

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