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eBay (EBAY – Free Report) has introduced the eBay vault, a digital marketplace for single and top-graded trading cards.
The eBay vault is a 31 thousand square foot, temperature-controlled facility, which provides secure access all day.
The vault is equipped with the Price Guide and Collections tool, which helps vault users track the real-time valuation of their trading card portfolios and list cards directly from their collection.
With the eBay vault, collectible enthusiasts can seamlessly manage their portfolio of collections. Moreover, the vault ensures secure transaction through eBay’s Authenticity Guarantee, insurance, fractional ownership, affordable shipping and a tax-free storage location.
The vault is accessible to those trading cards that are being directly purchased on eBay for more than $750 in the United States.
The cards are also needed to be graded by top graders in different categories like Professional Sports Authenticator (PSA), Sportscard Guaranty Corporation (SGC), Certified Collectibles Group’s affiliates, CGC Trading Cards, Certified Sports Guaranty (CSG) and Beckett Grading Services (BGS).
More Collectible Initiatives
The recent move is in sync with eBay’s consistent efforts in the collectible space. We believe that eBay vault will help EBAY gain momentum among the millennials and the Gen Z collectors.
Further, it is worth mentioning that eBay plans to expand the vault with additional collectible categories and luxury goods by 2023. Moreover, EBAY expects the vault to hold up to $3 billion worth assets within a few years.
Last month, eBay partnered with OneOf, a green non-fungible tokens (NFTs) company, which caters to the music, sports and lifestyle fraternities. Per the terms of the deal, eBay will leverage OneOf’s eco-friendly Web3 technology to introduce a series of exclusive NFTs for expanding EBAY’s reach to youngsters who are collectible enthusiasts.
The growing initiatives are helping eBay expand its presence in the emerging collectible market where growth is attributed to the rising online sale of antiques and collectibles, and the expanding e-commerce platforms catering to the collectibles trade.
Per a Market Decipher report, the global collectibles market is likely to touch $628 billion by 2031, seeing a CAGR of 6.2% during the 2021-2031 period.
Competitive Collectible Market
In this upbeat scenario, eBay faces severe competitive pressure from the ecommerce giant Amazon (AMZN – Free Report) , which is leaving no stone unturned to expand its market share.
Amazon lets shoppers access its platform to purchase collectibles and artworks from a wide variety of prints and posters, figurines, clothing and uniforms, photographs and more.
Collectors can also shop trading cards and memorabilia, including autographed photos, jerseys, balls, helmets, et al. Further, AMZN’s consistent investment in the sports-card marketplace Dibbs to gain momentum in the collectibles market remains noteworthy.
Given the potential in the collectibles market, the ecommerce and digital payment platform Shopify (SHOP – Free Report) also started making efforts to dive in this space, creating competition for eBay.
Enthusiasts can start, run and effectively grow their collectible businesses with Shopify’s free resources and training support. With SHOP’s dashboard, business owners can seamlessly manage their collectible store, inventory and customer orders in one place.
Further, Shopify offers smart marketing tools like SEO, integrated blogging and social media campaigns to help businesses attract customers to their collectible store.
Zacks Rank & Stock to Consider
Currently, eBay carries a Zacks Rank #5 (Strong Sell).
Investors interested in the retail-wholesale sector can consider companies like AutoNation (AN – Free Report) , sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
AutoNation has gained 4.8% in the year-to-date period. The long-term earnings growth rate for the ANstock is currently projected at 24.7%.