eBay hyped the recent launch of its new Vault where it physically stores customers' collectibles in a real-life warehouse, but it did not highlight the cost of using the service.
We took a look at the fees and found that if you buy an item that is already stored in the eBay Vault, you (the buyer) will have to pay fees, even if you don't want to keep your new collectibles stored there.
That's a new concept on a site where buyers usually pay only the selling price, shipping and handling, and sales tax, so buyers should pay close attention.
Buyers should also be aware they may have to pay storage fees beginning next year - eBay states, "There are no fees to store your items in the eBay vault in 2022."
Sellers, on the other hand, won't pay fees for selling items that are *already* stored in the eBay Vault.
At some point, items have to be submitted to the Vault. eBay is currently limiting who can submit items, and only items valued at $750+ are currently eligible for the eBay Vault.
When eBay eventually allows collectors to send their cards directly to the Vault, it will charge a submission fee to cover the cost of "expert inspection, insurance, and proper handling and storage of the item."
But for now, eBay explains, "you can only send eligible cards that you buy on eBay to the eBay vault. For all such eBay purchases, there is no submission fee."
- eBay charges an instant transfer fee to buyers of items stored in the eBay Vault. The instant transfer fee is 3% of the last purchase price of an item. eBay explains: "The instant transfer fee covers the administrative costs of securely reassigning ownership of the item within the eBay Vault."
- If the buyer of an item stored in the eBay Vault wants it shipped to their address at the time of purchase, eBay charges the buyer an instant transfer fee, a withdrawal fee, and an insured shipping fee.
- If the *current* owner removes an item from the eBay Vault, eBay charges a withdrawal fee and an insured shipping fee.
In addition to waiving storage fees in 2022, eBay is also waiving the instant transfer fee through the end of the year. It is also waiving insured shipping costs for withdrawals, but only through the fall of 2022.
eBay also published Terms and Conditions
of using the eBay Vault, including provisions for consignment services.
One of the interesting aspects of vaults like eBay's (and PWCC Vault) is that not only do buyers not have to pay shipping unless or until they take possession of the item, the same appears to apply to sales tax as well.
What do you think of the fees as a buyer and seller, and if you've had any experience with using collectibles "vaults" like eBay's, let us know.