The trading card market just got a major upgrade with the launch of the Professional Sports Authenticator (PSA) Vault. This new platform officially launched following PSA’s acquisition of eBay’s card vault in April, with the deal finalizing in May. The primary goal of this strategic move is to simplify the grading-to-selling process for trading card enthusiasts.
With the PSA Vault, collectors now have the convenience of submitting their cards for grading and then choosing whether to list them on eBay, store them in the PSA Vault, or have them returned to add to their personal collection. PSA President Ryan Hoge emphasized that this process significantly reduces the number of individuals handling the cards and decreases shipping times, as PSA manages the shipping process from the vault directly to the buyer.
In a game-changing move, Hoge explained, “With a single click, once you have your grades available, the cards are automatically listed on eBay. Once sold and paid for, funds appear in your checking account within days.” This streamlined approach eliminates the hassles associated with shipping items out, making the experience seamless for both sellers and buyers.
To further enhance the collector experience, PSA has developed a user-friendly app where collectors can manage their digital collection and make decisions about their next steps. This digital interface has proven invaluable for collectors who engage in frequent card trading, allowing for easy reassignment of ownership without the need for physical shipping if the card is already stored in the vault.
One of the standout features of the PSA Vault is its absence of holding fees. However, there is a nominal $5 withdrawal fee should a collector choose to remove a card before the 90-day mark. Physical vaults for both PSA and eBay are situated in Delaware, ensuring a secure storage location for the valuable trading cards.
Prior to joining forces with eBay, cards stored in the PSA Vault could be listed on Goldin Auctions. Despite this, eBay’s expansive active buyer base, particularly for lower-priced cards, offers a superior platform for sellers. Hoge pointed out, “Cards valued under $500 form the majority of what we’re grading. eBay is by far the best place to sell those.”
Interestingly, Collectors Holdings, the former owner of Goldin Auctions before being acquired by PSA, is backed by a notable group including Mets owner Steve Cohen, venture capitalist Nat Turner, and hedge fund billionaire Dan Sundheim. This trio took over Collectors Holdings and acquired Goldin Auctions in 2021, further solidifying their presence in the trading card market.
The introduction of the PSA Vault marks a significant leap forward in simplifying the trading card market. Offering collectors an efficient and streamlined process from grading their cards to smoothly selling them, this new platform is set to revolutionize the way trading card transactions are conducted. Trading card enthusiasts can now look ahead to a more seamless and convenient experience in managing their collections.