@eunster1313 wrote:
@mam98031 wrote:
Absolutely there will be fees to use the Vault. Ebay isn't and shouldn't just give away all the money they have invested in getting this program on its feet and build that building too.
I believe eBay is using the term (eBay Vault) as a euphemism.
I see nowhere were eBay is claiming that they are building a
physical Vault to safely store anything.
If I had to guess, more than likely it will be similar to the
authentication process they have now. But with the option
for the seller to send it to them ahead of time to store
before a sale.
@eunster1313 - it may not actually be a "vault" like we would picture a bank vault or something, but the vault is a physical building and part of the service offered in theory will be secure long term storage.
PWCC and a few other places already offer services like this and one of the benefits eBay is touting is the fact that since it is securely stored "in the vault" it can be bought and sold and transfer ownership many times over without ever physically moving an inch - no shipping costs, no possibility of being lost or damaged in transit etc. you just push a button and your winning buyer is now the proud new owner of xyz alternative asset collectible.
They're also talking about the possibility for fractionalization, where let's say 5 people all want to go in together and pay 20% of whatever the item is - again in theory, they'll be able to do that and each of those people will have an ownership stake that they can then sell later as well.
Now, I'll be honest - I'm the kind of person that if I drop $10,000 on a collectible I'd probably want to be able to take it out and look at it sometimes, but that's just me and I am absolutely not the target demographic for this in any way, shape or form. 😉
We'll have to wait for more information to come out, but safe to say this is nothing like most of us are used to when thinking about the concept of buying and selling things on eBay.
mam98031 • Volunteer Community Member • Buyer/Seller since 1999
