PSA Launches Trading Card Vault to Streamline Collector Transactions

• Posted: June 24, 2024, 1:11 pm
• in Sports Card News
• by bionic

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The Professional Sports Authenticator (PSA) has officially launched its Trading Card Vault, a move designed to simplify the grading and selling process for trading card collectors. This new development follows PSA’s acquisition of eBay’s card vault in April, with the transaction being finalized in May.

With the introduction of the PSA Vault, collectors can now submit their cards for grading and subsequently choose to list them on eBay, store them in the PSA Vault, or have them returned to their personal collection. According to PSA President Ryan Hoge, this new system significantly reduces the number of times a card needs to be handled and shipped, as PSA takes over the shipping duties from the vault directly to the buyer.

“With just one click, once your grades are available, the cards are automatically listed on eBay. After they are sold and payment is received, the funds are deposited into your checking account within a few days,” Hoge explained. “This removes the hassle of having to ship the items yourself.”

The PSA app offers a digital interface where collectors can view their digital collection and decide their next steps. This feature is especially valuable for those who frequently trade cards, as it allows for instant ownership reassignment without waiting for shipping if the card is already in the vault.

Collectors can store their cards in the vault without a holding fee, although a $5 withdrawal fee applies if a card is removed before 90 days. The physical vaults for PSA and eBay are located in Delaware.

Before merging with eBay, cards stored in the PSA Vault could be listed on Goldin Auctions. However, eBay’s larger and more active buyer base, especially for lower-priced cards, offers a more robust marketplace. “Most of the cards we grade are valued under $500,” Hoge said. “eBay is by far the best platform to sell those.”

Collectors Holdings, the parent company 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.

The launch of the PSA Trading Card Vault represents a significant step forward in the trading card industry, providing collectors with an efficient, streamlined process for grading and selling their cards.