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eBay Vault Coming in Q2

NGS428NGS428 Posts: 2,235 ✭✭✭✭✭

Just caught this news. Another vault. I assume no tax benefit like the PWCC vault. Want eBay holding your cards?

https://www.marketwatch.com/story/ebay-to-launch-secure-storage-facility-with-initial-focus-on-trading-cards-collectibles-271646941545

Comments

  • NGS428NGS428 Posts: 2,235 ✭✭✭✭✭

    @ArtVandelay said:
    Not that I am interested in this service, but, I would definitely trust eBay with my cards long before I would ever consider doing any kind of business with the shady people at PWCC.

    You have a point there.

  • 80sOPC80sOPC Posts: 1,199 ✭✭✭✭✭

    Rather have eBay holding my cards then PWCC or Goldin.

  • DotStoreDotStore Posts: 701 ✭✭✭✭

    I wonder if they will setup the vault in a state with no sales tax -- and whether that would allow eBay to bypass collecting sales tax. Either way, I like this concept and would definitely hold graded cards in their vault that I plan to sell on eBay -- as long as all my items are fully insured and their vault fees are reasonable.

  • hyperchipper09hyperchipper09 Posts: 1,436 ✭✭✭✭✭

    Hard pass

  • DMasciDMasci Posts: 169 ✭✭✭

    No from me but I have a hypothetical question...Let's say you bought a card valued at $50 for $50 and put it in the vault. 5 years later having never actually touched this card, you want to sell it and it's value is more like $300. If there was a situation that your card could not be located anywhere "in the vault" how do you think your issue would be settled. Sorry here's your money back $50 or sorry here's $300?

  • miwlvrnmiwlvrn Posts: 4,213 ✭✭✭✭✭

    @DMasci said:
    No from me but I have a hypothetical question...Let's say you bought a card valued at $50 for $50 and put it in the vault. 5 years later having never actually touched this card, you want to sell it and it's value is more like $300. If there was a situation that your card could not be located anywhere "in the vault" how do you think your issue would be settled. Sorry here's your money back $50 or sorry here's $300?

    Good question; it relates to another more tangible concept already in play: there are plenty of cards in grading orders that were logged so long ago that the declared value was accurate at the time of submission but over the processing time has escalated to 5x to 10x the initial declared value. It results in grading fee upcharges upon completion prior to shipping back to the customers. However, if a card is lost or damaged during the grading process, do they refer to the initial declared value or the new present day realized value when sorting out compensation?

  • Mickey71Mickey71 Posts: 4,224 ✭✭✭✭

    I'm not doing it. Too much room for error with all of this stuff.

  • VagabondVagabond Posts: 551 ✭✭✭✭

    eBay can't even put cards properly in card savers when sending out to buyers with their "authentication guarantee" service. The less people who handle my cards, the better.

  • jimradjimrad Posts: 2,777 ✭✭✭
    edited March 12, 2022 5:01PM

    @NGS428 said:

    @ArtVandelay said:
    Not that I am interested in this service, but, I would definitely trust eBay with my cards long before I would ever consider doing any kind of business with the shady people at PWCC.

    You have a point there.

    @80sOPC said:
    Rather have eBay holding my cards then PWCC or Goldin.

    I’m from a different view, I would have EBay at the bottom of my list to ever hold my cards, make that as in NEVER

    Positive transactions with: Bkritz,Bosox1976,Brick,captainthreeputt,cpettimd,craigger,cwazzy,DES1984,Dboneesq,daddymc,Downtown1974,EAsports,EagleEyeKid,fattymacs,gameusedhoop,godblessUSA,goose3,KatsCards,mike22y2k,
    MULLINS5,1966CUDA,nam812,nightcrawler,OAKESY25,PowderedH2O,relaxed,RonBurgundy,samsgirl214,shagrotn77,swartz1,slantycouch,Statman,Wabittwax
  • GoDodgersFanGoDodgersFan Posts: 1,391 ✭✭✭

    Ebay is just another option for me re vault service. Have to see how it plays out after 6-12 months.

  • CardGeekCardGeek Posts: 398 ✭✭✭

    It'd be cooler if I could actually get someone from eBay on the phone that wasn't in India.

  • DotStoreDotStore Posts: 701 ✭✭✭✭

    If my plan is to sell a graded card on eBay, then I would be more comfortable sending it to eBay to hold in their vault for selling purposes. I do not accept returns, so when I sell the card from the eBay vault, I believe that will be considered a done deal. Zero chance of any buyer shenanigans, and zero chance of any chargebacks. It is a done deal because eBay actually has the card and it is up to them to get it to the buyer.

  • jeffcbayjeffcbay Posts: 8,948 ✭✭✭✭

    Would I rather pay Ebay to store my cards rather than store them myself for free? Different strokes, I guess...

  • ndleondleo Posts: 4,040 ✭✭✭✭✭

    Will eBay send a goon squad after me if I want my cards back?

    Mike
  • NGS428NGS428 Posts: 2,235 ✭✭✭✭✭

    @ndleo said:
    Will eBay send a goon squad after me if I want my cards back?

    Spice it up a bit and ask them to ship them to the PWCC vault. :D

  • DotStoreDotStore Posts: 701 ✭✭✭✭

    Just got an email with additional eBay Vault info. With regard to charging sales tax, they had this bullet (with an asterisk as noted below)

    ==================================================================
    Sales taxes will not be charged for items sent to or traded within the eBay vault.*

    *Owners are responsible for remitting applicable taxes upon withdrawal. When you sell or purchase a card that is shipped from the eBay vault, eBay will collect sales taxes as required.

  • dmg111dmg111 Posts: 45 ✭✭✭

    I guess it's better than losing your items in a home fire...

  • NGS428NGS428 Posts: 2,235 ✭✭✭✭✭

    Here is the release link from EBay.

    https://pages.ebay.com/vault

  • I actually like to have cards in hand to look at :).

    I guess the benefit is if you are a buyer who has to pay sales tax but are planning to sell the card,, you would just buy it and send it to the vault and sell it from the vault then you would never pay the sales tax increasing your profits. I think that is how I read it but who knows

  • the tax implications are iffy

  • very iffy

  • HidhoeHidhoe Posts: 310 ✭✭✭

    Has anyone used the eBay vault yet

  • I tested it out. The card is there and just have no interest in getting it back yet.

  • craig44craig44 Posts: 10,254 ✭✭✭✭✭

    nope, never used a vault.

    what is the policy if you were to sell a card in the vault and it is either lost in shipping or otherwise doesnt make it safely to the buyer? Is it an ebay issue as they were the shipper/insurer? I could see that as an incentive to use as it would leave ebay to deal with usps insurance etc.

    George Brett, Bobby Orr and Terry Bradshaw.

  • brad31brad31 Posts: 2,479 ✭✭✭✭✭
    edited February 5, 2024 6:17AM

    The concept of a vault is completely foreign to me. I collect cards not pictures of my cards. It is bad enough that they are essentially permanently sealed in plastic. If I wanted pictures of cards stored elsewhere - those are free for me with a push of a button on my phone.

    To me opening the mail and seeing my card is exciting. I enjoy putting it away in year and number order among my cards. I always look at least at the other cards from the year of issue of my new card. I don’t even mind when the box is too full to fit it and I have to systematically make room down the like from that year of issue into my last box of graded cards.

    I understand local safety deposit boxes because you can at least pick them up from time to time and look through - but a vault far away where I am unlikely to ever go through my cards?????

  • craig44craig44 Posts: 10,254 ✭✭✭✭✭

    @brad31 said:
    The concept of a vault is completely foreign to me. I collect cards not pictures of my cards. It is bad enough that they are essentially permanently sealed in plastic. If I wanted pictures of cards stored elsewhere - those are free for me with a push of a button on my phone.

    To me opening the mail and seeing my card is exciting. I enjoy putting it away in year and number order among my cards. I always look at least at the other cards from the year of issue of my new card. I don’t even mind when the box is too full to fit it and I have to systematically make room down the like from that year of issue into my last box of graded cards.

    I understand local safety deposit boxes because you can at least pick them up from time to time and look through - but a vault far away where I am unlikely to ever go through my cards?????

    I think it is mostly for flippers who are not collecting the cards they have in one of the vaults. I am similar to you, as I like to either have my cards on hand or at least in the local bank deposit box where i can access them anytime.

    I have always wondered what would happen if one of these "vaults" were to become insolvent. would those items get auctioned in a bankruptcy proceeding? would some of them turn up missing? would they all get return shipped to the rightful owner?

    George Brett, Bobby Orr and Terry Bradshaw.

  • brad31brad31 Posts: 2,479 ✭✭✭✭✭

    I have always wondered what would happen if one of these "vaults" were to become insolvent. would those items get auctioned in a bankruptcy proceeding? would some of them turn up missing? would they all get return shipped to the rightful owner?

    That is definitely a concern. Also I would think it would be fairly easy for the right employees to steal what will take a long time to be noticed. Unless they are constantly taking cycle inventory - I would think you could find the people who just store there and don’t really sell anything. Taking cards from those people would take a long time to notice. No idea what the security is but controlling inventory the size of a sports card from theft is no easy task. The people building these vaults are not really the most trusted - look at the EBay mess with threatening people, the PWCC messes (now Fanatics owns them so not the same people), some of the Ken Goldin scoreboard stuff - would make me uneasy.

    However, I suppose if my side hustle was buying and selling cards on EBay a vault would be too convenient not to use. So far so good - haven’t heard any stories of missing cards from any of the vaults.

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