The world of trading card collecting just got a whole lot easier with the launch of the PSA Trading Card Vault. This innovative platform, brought to you by the Professional Sports Authenticator (PSA), is here to simplify the often cumbersome process of grading and selling trading cards.
Officially launched on a sunny Monday afternoon, the PSA Vault is the result of PSA’s acquisition of eBay’s card vault back in April, with the deal finalized in May. The primary goal behind this strategic move is to make life easier for trading card enthusiasts by streamlining the entire grading-to-selling process.
So, what exactly can collectors expect from the PSA Vault? Well, for starters, they can now submit their cards for grading and then choose from a variety of options. They can opt to list their graded cards on eBay with just a single click, keep them safely stored in the PSA Vault, or have them returned for their personal collection. The best part? PSA takes care of the shipping from the vault to the buyer, reducing the number of people handling the cards and minimizing shipping times.
Ryan Hoge, the President of PSA, emphasized how this new process simplifies the entire transaction journey for collectors. “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,” explained Hoge. “This eliminates the hassle of shipping the item out.”
To make things even more convenient, collectors can manage their digital collection and make decisions about their cards using PSA’s user-friendly app. This digital interface has been a game-changer for collectors who are constantly trading cards, providing a seamless experience where ownership can be transferred 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 that it does not charge a holding fee, which is a breath of fresh air for collectors. However, if a card is removed before 90 days, there is a small $5 withdrawal fee. Curiously, the physical vaults for PSA and eBay are both situated in Delaware, adding a touch of mystery to the whole operation.
Before teaming up with eBay, cards in the PSA Vault could be listed on Goldin Auctions. However, thanks to eBay’s large active buyer base, especially for lower-priced cards, it’s now the go-to platform for sellers. Hoge noted, “Cards worth under $500 make up the majority of what we’re grading. eBay is far and away the best place to sell those.”
It’s worth mentioning that Collectors Holdings, the previous owner of Goldin Auctions before being acquired by PSA, is backed by a powerhouse trio consisting of Mets owner Steve Cohen, venture capitalist Nat Turner, and hedge fund billionaire Dan Sundheim. The acquisition of Goldin Auctions in 2021 marked a significant step in the evolution of trading card sales.
With the launch of the PSA Trading Card Vault, the world of collecting has been revolutionized. This platform not only simplifies the trading card market but also offers collectors a more efficient and seamless process from grading to selling. Get ready to take your collecting game to the next level with the PSA Vault!
