Ina Steiner EcommerceBytes Blog
News and insight focusing on ecommerce.
by Ina Steiner, Editor of EcommerceBytes.com
Tue June 21 2022 21:14:58

The Cost of Buying Collectibles Stored in the eBay Vault

By: Ina Steiner

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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."

It's worth spending time studying the page where eBay lists the fees, here are some key points:

- 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.



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Perminate Link for The Cost of Buying Collectibles Stored in the eBay Vault   The Cost of Buying Collectibles Stored in the eBay Vault

by: comments This user has validated their user name.

Wed Jun 22 00:57:43 2022

I just don't see this idea as anything more then a fulfillment center. There are plenty of secure storage facilities and I have only heard mention of such storage once by a buyer in 10s of thousands of transactions.

Also when ebay was converting over to managed payments I did lots of googling to find information that ebay was not transparent about. I saw shocking numbers of reports from people that ebay had placed restrictions on payouts or random bans where they won't give you access to customer support. In such an event how could you reclaim your property if they won't even release your funds?

All that aside though. There are lots of investment vehicles. People looking to make big ticket purchases of trading cards usually want them to complete a set, with longer term value appreciation as a secondary or justifiable reason to buy it.

I know I personally went to ebay to buy a couple rare toys and trading cards that were just beyond my reach when I was a kid. I am happy to transfer them to the vault.................after you pry them from my cold dead hands :)

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by: Snapped This user has validated their user name.

Wed Jun 22 02:57:24 2022

How does it cost eBay more to ‘administer’ a $100 ‘trading card’ than it does to do it for a $1000 ‘trading card’?  (Any $ example for apples to apples works, btw).

There is no answer that doesn’t render tier pricing as an inappropriate and greed motivated cost model for any ‘service’ eBay will provide in kind, all arguments with it’s ‘value’ notwithstanding.  

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by: WaLK-aWAY This user has validated their user name.

Wed Jun 22 11:55:38 2022

Is there ANY grift that these utter losers wont think of next?  Ebay is the illustrated circus clowns within Ecommerce.  Geez, start pouring the dirt over this shallow grave and let's be done with it already . . . .  

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by: papergoy This user has validated their user name.

Wed Jun 22 11:55:40 2022

To Snapped- the same way it costs the grading services more to grade a 1952 Mickey Mantle over a 1990 Donruss common- it doesn't.  They simply realize they can charge more.  Think about it with the signature grading- they charge more to authenticate Elvis whom they've literally seen thousands of examples of versus some 1900 violinist whom they may never have seen before- which is completely irrational OTHER than that they can.

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This user has validated their user name. by: iheartjacksparrow

Wed Jun 22 12:41:57 2022

Anybody who didn't think is was another money making scheme by eBay, raise your hand. Hmmm, I don't see any hands.

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by: mcat This user has validated their user name.

Wed Jun 22 16:05:54 2022

Looking at today's announcement of eBay buying NFT outfit KnownOrigin & bringing aboard its founders;maybe they're looking to the Vault more for that market in the future.

Who knows...maybe they just can't get over losing the money from kicking out  PWCC & they're going to try to grind them into the dust competing regardless of the cost or practicality. Guess we'll just have to wait & see.

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by: Chicago48 This user has validated their user name.

Thu Jun 23 05:31:11 2022

Sellers, on the other hand, won't pay fees for selling items that are *already* stored in the eBay Vault.
^^
This seems like  EB is going to be like AMZ/FBA and its warehouse setup for sellers.  But it's for collectibles.  Could it be the beginning of EB starting a warehouse & storage system like AMZ?  Who ships the collectibles if it comes from the Vault?  Does EB have workers who ship it?  This is the screwiest idea ever.

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by: Chicago48 This user has validated their user name.

Thu Jun 23 05:34:19 2022

I would like to see  a picture of the Vault and the storage units.  It would make more sense to offer an "authenticate" service.  

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by: rhw1 This user has validated their user name.

Thu Jun 23 12:11:15 2022

If someone wants to have eBay store their items, god love em. I liken this to their global shipping fiasco. PB employees shoving items in to boxes to decrease the dim weight on items and damaging/breaking said items! I would love to hear about the first person that pulls something out of storage, and it’s not in the same shape it was when received. Ina...you have a contact for a good lawyer?  :)

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by: Ubiquitous Salmon This user has validated their user name.

Thu Jun 23 12:39:41 2022

@Chicago48:

"I would like to see a picture of the Vault and the storage units. It would make more sense to offer an "authenticate" service."

Yeah--since their authentication programs are such rousing success . . . with sneakers being stolen right and left while the authentication center claims the packages have arrived empty. Nothing more than a fence for sneakers stolen from sellers. One pair even showed up for sale on eBay's marketing platform! When the seller complained in a Community thread, the listing magically disappeared.

I wouldn't let eBay authenticate my lily-white you-know-what.

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by: Fried Chicken Addiction This user has validated their user name.

Fri Jun 24 01:51:25 2022

I stopped buying and selling on eBay on Jan 1 2022. I usually don't comment on here and am 100% living a Ebay free life now after 20 plus years of it being a daily thing. I have to say, this idea of Ebay keeping your fine collectibles safe and sound while YOU chase the people down for the money has got to be the stupidest thing I ever heard of in my life. Really, something this hair-brained is even more proof the end is nigh for ol' Ebay. By any chance is Ebay being run by someone named Brandon? Just wondering...

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This user has validated their user name. by: The End

Fri Jun 24 11:45:00 2022

FYI :
Local Auctions are BOOMING !
I was surprised...
So I will now be bringing my stuff there.
Can't wait to see what my creations bring as well...

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by: RL15 This user has validated their user name.

Fri Jun 24 15:26:06 2022

there's a sucker born every minute

Perminate Link for The Cost of Buying Collectibles Stored in the eBay Vault   The Cost of Buying Collectibles Stored in the eBay Vault

by: Toledo Maude This user has validated their user name.

Fri Jun 24 19:01:45 2022

Hey, does Ebay store crypto coins?

I have a bunch that are worth several million dollars (last week)?



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