Collectors and eBay Transactions Close, Summer Launch Expected for Integrated, End-to-End Hobby Experience
PSA and eBay partnership introduces new, customer-focused vault experience with streamlined grading, storing and selling of trading cards
SAN JOSE, Calif., May 16, 2024 /PRNewswire/ -- Collectors, parent company of PSA, and eBay Inc. (NASDAQ:EBAY), a global commerce leader that connects millions of sellers and buyers around the world, today announced they have closed a series of previously announced transactions. This summer, eBay and PSA, a leading third party authentication and grading provider in the collectibles industry, will launch a new, seamless, end-to-end experience to the trading card hobby ("The Hobby"), enhancing the collector journey by unlocking new markets and benefits.
The transactions included the sale of Goldin from Collectors to eBay and the sale of the eBay vault from eBay to PSA, along with a commercial agreement that will create the new, combined vault product offering.
The partnership will support streamlined buying, grading, storing and selling for collectors of all types, bringing together eBay's best-in-class marketplace platform with PSA's expert grading services and vault product. Complementary service offerings from eBay and PSA will be combined to remove friction from The Hobby and power a comprehensive, integrated program. The companies are focused on improving The Hobby through trusted transactions, accurate and transparent data, a deep inventory of items across price points, and a shared belief that the customer should be at the center of every decision.
The new, enhanced customer experience will launch with a suite of features, offering more seamless transactions and extensive data-based insights to support decision-making for trading card collectors:
- Customers will now have consistent access to the vault whether buying or selling on eBay, grading with PSA, or submitting items directly to the vault for insured storage.
- For cards submitted to PSA for grading, customers will have the ability to elect to sell those cards on eBay, vault them, or have them sent back home to showcase in their personal collection, simplifying the entire process and supporting reduced shipping costs and time.
- Within the PSA app, a full collection and inventory management experience will be available at users' fingertips, including real-time tracking of any item's value, via recent transactions and utilizing PSA's pricing data.
- eBay will integrate real-time transaction data and PSA Population Report data directly into listings for relevant collectibles, providing buyers with a clear understanding of an item's rarity, grading distribution and importantly, pricing. This can help buyers make more informed decisions by understanding how many items of a similar grade are in existence, while access to consolidated pricing data enables smarter buying, selling and trading decisions.
- Using image-based listing capabilities, eBay customers will also be able to scan graded trading cards to create and populate new listings with greater speed and accuracy, including attributes like the certification number, product, set, year, team, player, and features such as parallels, foils, insert, and card number.
"The most exciting part about this partnership between PSA and eBay is on the horizon, and we cannot wait to introduce a game-changing experience that will benefit collectors within The Hobby at all levels," said Collectors CEO Nat Turner. "Reducing friction for hobbyists at every step in the collecting journey is always a key goal of ours, and combining efforts and strengths with an industry leader like eBay allows us to effectively address each of those steps. As a collector myself, the idea of being able to grade a card with PSA, then utilize the vault to either store it securely or make it available to other collectors on eBay in an instant is a major win for everyone who participates in this hobby."
"eBay is relentlessly focused on providing the best inventory and the highest level of trust for our global community," said Jamie Iannone, CEO, eBay. "These deals further our mission of reinventing the future of ecommerce for enthusiasts, and we believe our shared expertise will inspire even more people to sell, shop and collect with confidence."
eBay's acquisition of Goldin, a leading US-based auction house for high-value trading cards and collectibles, will enhance existing marketplace offerings by expanding the range of inventory available to customers and opening up an expansive new audience for Goldin consignors. This will enable a more well-rounded collecting experience across price points and bring some of the most exciting, exclusive inventory to eBay customers.
"I am thrilled for Goldin to join eBay and begin its next chapter introducing a whole new audience to our curated Elite auctions, the Goldin 100 and our amazing selection of one-of-a-kind collectibles and sports memorabilia," said Ken Goldin, Founder and CEO, Goldin. "We are ready to get to work creating an exciting new experience for collectors and building the future of The Hobby for enthusiasts."
About eBay
eBay Inc. (NASDAQ:EBAY) is a global commerce leader that connects people and builds communities to create economic opportunity for all. Our technology empowers millions of buyers and sellers in more than 190 markets around the world, providing everyone the opportunity to grow and thrive. Founded in 1995 in San Jose, California, eBay is one of the world's largest and most vibrant marketplaces for discovering great value and unique selection. In 2023, eBay enabled more than $73 billion of gross merchandise volume. For more information about the company and its global portfolio of online brands, visit www.ebayinc.com.
About PSA / Collectors
Collectors is a leading provider of authentication, grading and collection management services to the collectibles market. Collectors provides best-in-class products and services that allow hobbyists to grade, authenticate, research, vault and sell their trading cards, memorabilia and other items. Collectors divisions and subsidiaries include PSA, PCGS, WATA, SGC, Card Ladder and the Long Beach Expo collectibles trade show. More information is accessible to collectors and dealers at Collectors.com. For more information about PSA, please visit www.psacard.com.
About Goldin
Founded in 2012 by the star of the hit Netflix docu-series 'King of Collectibles: The Goldin Touch,' Goldin is an internationally renowned leader in trading cards, collectibles and memorabilia. As the go-to marketplace for the very best collectibles across sports, pop culture, entertainment and history, the company routinely sets records for the most expensive memorabilia ever sold. Trusted by lifelong collectors and new hobbyists alike, the company has made over $1.2 billion in sales since its humble beginning in 2012, and founder Ken Goldin has sold more than $2 billion in memorabilia over the course of his illustrious decades long career. Goldin is the official auction partner of the Naismith Memorial Basketball Hall of Fame, The Major League Baseball Players Alumni Association and the Babe Ruth Birthplace and Museum. Learn more at Goldin.com, and on X and Instagram.
Forward-Looking Statements
Certain statements herein are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements are often identified by words such as "anticipate," "approximate," "believe," "commit," "continue," "could," "estimate," "expect," "hope," "intend," "may," "outlook," "plan," "project," "potential," "should," "would," "will" and other similar words or expressions. Such forward-looking statements reflect eBay's current expectations or beliefs concerning future events and actual events may differ materially from historical results or current expectations. The reader is cautioned not to place undue reliance on these forward-looking statements, which are not a guarantee of future performance and are subject to a number of uncertainties, risks, assumptions and other factors, many of which are outside the control of eBay. The forward-looking statements in this document address a variety of subjects including, for example, the potential benefits of the commercial agreement with Collectors and acquisition of Goldin, including with respect to eBay's offerings and the impact on buyer and seller activity, as well as the potential impacts of the sale of the eBay vault. The following factors, among others, could cause actual results to differ materially from those described in these forward-looking statements: the possibility that eBay may not fully realize the projected benefits of the commercial agreement and acquisition; and business disruption following any of the commercial agreement, acquisition or sale. In addition, actual results are subject to other risks and uncertainties that relate more broadly to eBay's overall business, including those more fully described in eBay's filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the fiscal year ended December 31, 2023 and subsequent quarterly reports on Form 10-Q. The forward-looking statements in this document speak only as of this date. We undertake no obligation to revise or update publicly any forward-looking statement, except as required by law.
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SOURCE eBay Inc. and Collectors