The Professional Sports Authenticator (PSA) Vault for trading cards went live Monday afternoon, the result of a deal that saw eBay’s card vault absorbed by PSA. The main goal of the PSA Vault is to simplify the grading-to-selling process for trading card collectors.
In April, PSA acquired eBay’s card vault as part of a series of transactions that formally closed in May. Financial terms were not announced.
With the launch, collectors can submit a card to PSA for grading and then decide whether they want to list it on eBay, keep it in the PSA Vault or have it sent back to them for their collection. Ryan Hoge, PSA president, said in a phone interview the main benefit to collectors with this new process is decreasing the number of people handling the card, and the number of times a card needs to be shipped. PSA is taking on the shipping role and will send cards from the vault to the buyer.
“With a single click, once you have your grades available, the things are automatically listed on eBay, and as soon as they’re paid, within a few days, you have money within your checking account,” Hoge said. “You don’t have to worry about the hassle of shipping the item out.”
There will be a feature on PSA’s app where collectors can see their digital collection and decide what actions they want to take with the cards.
“[The digital interface has] proven really valuable for people that like to move in and out of positions on cards,” Hoge said. “You don’t have to wait for the card to get shipped to you. If you’re buying a card that’s already in the vault, it’s almost like ownership gets reassigned.”
Collectors are not charged a holding fee to leave cards in the vault, but they pay a $5 withdrawal fee if a card is removed before 90 days, according to Hoge. The PSA and eBay physical vaults are in Delaware.
Before eBay’s integration, cards in the PSA Vault could be listed on Goldin Auctions. Hoge said the notable difference then was Goldin had fewer active buyers on lower-priced cards and collectibles than eBay. Now sellers can start auctions for their cards on eBay.
“Cards [worth] under $500 is the majority of what we’re grading,” Hoge said, adding, “eBay is far and away the best place to sell those.”
Collectors Holdings, the group that previously owned Goldin Auctions, is owned by Mets owner Steve Cohen, venture capitalist Nat Turner and hedge fund billionaire Dan Sundheim. Collectors Holdings acquired Goldin Auctions in 2021.
(This story has been updated in the last paragraph to better clarify Collectors Holdings’ relationship to PSA.)
