Sales from the Vault

[amricons]

eBay uses many 3rd parties to introduce new apps.  In the rush to introduce in things they often do not think thing thru nor supply clarity. One example:

Suspose you sell an item for $300 and the buyer elects to send it to the vault.  A few years goes by and the item in the vault is re-sold on eBay for $1200 but the item has been lost or damaged. What happens. eBay has no answer, policy, protocol nor plan.   Talked to a person in AG department today and posed that question and the person replied " we have no answer" .

[mtgraves7984]

@amricons 

Using the eBay vault | eBay

Waaay down at the bottom, read 'Reporting a missing or damaged card'. Looks like the buyer uses the MBG to me.

Or............ are you saying that it was not found or damaged while stored in the vault? Maybe 'Viewing your collection'?

[simba6]

If it even says open.  Over 15 years ago there was a promo like this for special high priced baseball cards. You could buy them and they would hold them for you. You could let others see your collection and you could sell them too. Or you could have them shipped to you but, once they left they could not reenter or be sold through that system anymore.  You could still sell them on eBay like any other cards.

Must not have worked out and it  closed and they just sent the people their cards.

[amricons]

Lets say you bought the item on eBay and had it stored at THE VAULT. You paid $300. Couple of years later, the buyer sells the item on eBay , but the Vault cannot find the item. What happens ? Should their be a clear , concise answer ?

[amricons]

Oh, what if it sold for $1200.

[janet9988]

It is simple. The seller would be required  to refund the buyer and charge the seller with an out of stock defect.

Then ebay could sell the item for $1200.00

[amricons]

Oh, the buyer becomes  a seller now. You mean use, seller guarantee. Had an hour conversation with eBay today on several topics. There is no answer nor policy on the question raised. We also talked about AG where a seller that sells a $300 PSA graded card. Isn't it a conflict of interest for PSA to look at a PSA graded card ? What does the buyer get with the AG program. PSA just looks at the card. By the way,  eBay does not consider BGS a valid grading company which is why it is not a choice on some of the item specifics. PGS VS BGS ?   We have seen a huge drop in our graded card sales and 1 feedback point, no reason to the additional risks in the mechanics of the app nor the additional time involved.  Here is something that makes no sense. Over 60% of eBay sales are international. eBay is introducing eBay International. It is not a choice. There is a $500 limit per item sold. On one hand eBay wants a higher grade of buyer and seller, then they place a no reason, arbitary amount on international sales.

[toomuchstuffagain35]

With their new replacement for GSP, ebay handles the refunds. Maybe they don't want to be on the hook for anything over $500?

[amricons]

This is cynicism right ?  WE have been selling collectibles for a long time. The field is filled with the dead bodies that have tried to do this vault thing or something similar. Last year a group of  experts put together a compiliation company to gather up card for submission to PSA. Somehow, check internet for details something went wrong and now owners of thousands or cards are tied up in bankrupcy court. A huge mess.  PWCC an oused card company is offering the same thing. eBay uses a 3rd party. Guess what, we and thus your buyer does not know anything about them. Besides eBay will get involved as in the present, past and future.  Now eBay is involved in NFT's as disaster waiting to happen.   Have we forgotten Crypto ? People smarter than me, did not bother to diligence because the crypto people did not provide any.  Have no sym for those investors as they were pulling a fast one on us anyway.

LOL

[amricons]

By the way, this kinda thing happens in bullion  and coin, seems like every year.  A bit of research on the internet   will show this class of scam happening a lt.  Topps did one years go on sports cards. A compete scam and bomb. Remember a couple of years ago, when a company wanted to sell shares in NFL players. Greed will kill the goose every time

[amricons]

Very insightful. International sales is over 64% of eBay GMV. With everything the CEO stated as goals for the company, how does this artficial limit help those goals.  One of our goals is to push for higher sales per transaction. We have run across several eBay policies that run contary to any company that wants a higher GMV for the company. This limit cannot help reach any higher volume goals. eBay has already demonstrated it cannot handle the volume of listing it already has. Search is a complete mess. eBay has a punch down philosophy. The e-commerce is growing  at double digit but eBay GMV is declineing.  In any case, there are several solution to the issue including the use of the $500 as a deductible. EBay covers 1st $500 , the seller the balance if any.  In any case, eBay more and more feels it knows best and will make decisions without any choice for the seller. People well understand the 80/20 or 90/10 principle in marketing. 80% of sellers do 20% of the sales. EBay has always tried to protect its buyers . With the vault what will be the reaction if the buyers that place items into the Vault , become sellers and then face the same issues seller face today. Can you imagine the reaction of a seller that sold an item stored in the Vault and runs into any issue including " we cannot find the item" eBay cannot just give that seller the sales money and refund the new buyer or can they ?   If they did that, heck, we would just send the vault our entire inventory. Ship it by armored truck, and just sell the items. eBay would just ship them and we would never have a defect or negitive feedback again.

[amricons]

Was it the Topps program ?

[cardsforauction]

I would think eBay is responsible for the items in the vault and they have insurance money to back it up.  If the rare instance eBay lost the item in the vault eBay would have to pay the person with the item in the vault $1200.  That's how it's suppose to work I would think.  Will they pay the full $1200 is a good question, but if the sale price was that they should. 

[amricons]

That would be the right thing to do, but believe it or not, they do not any policy concerning that scenario. We all know what happens if any seller did that and it is stated very clearly.  It is a concern because of the many business failures, scams, and frauds that occur every year.  Here is an example:

Marx Cards – Large PSA Group Submitter – Declares Bankruptcy

[slippinjimmy]

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@amricons wrote:

Lets say you bought the item on eBay and had it stored at THE VAULT. You paid $300. Couple of years later, the buyer sells the item on eBay , but the Vault cannot find the item. What happens ? Should their be a clear , concise answer ?

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The answer is right in the Vault User Agreement, how clear it is depends on your legalese comprehension skills.

https://www.ebay.com/vault

Terms and Conditions are at the very bottom of the page