Trading cards have long been a brisk business online. There’s little doubt eBay (NASDAQ:EBAY) is cognizant of that fact and, as such, is improving its slate of offerings for those doing business in trading cards on the platform. It’s rolled out an expansion to its eBay vault service, and it gave eBay stock a significant boost in Monday afternoon’s trading.
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The eBay Vault service allows several users—from collectors to investors—to take higher-end merchandise and submit it directly to eBay facilities. Specifically, cards that have already been graded and are worth more than $250 will be eligible for rapid deployment through the eBay Vault program. It’s not just about putting them up for sale, either; users will be able to have their cards stored with eBay or authenticated via third-party experts.
The eBay vault itself, meanwhile, is a 31,000 square foot facility that currently holds some of the rarest collectible cards known to man. Everything from a PSA 10 Bowman Mickey Mantle from 1952 to a Black Lotus card from “Magic: the Gathering” is currently located in eBay’s vault for storage. The vault boasts top-end climate control mechanisms for both temperature and humidity, and everyone who works in the vault has undergone background checks akin to those joining eBay at the C-suite level. The move comes just as eBay is planning a series of events targeting card collectors and sellers and drawing more business to eBay.
The move was big with shareholders today, but analysts are somewhat more skeptical. With seven Buy ratings, nine Holds, and one Sell, eBay stock is currently considered a Moderate Buy. Further, eBay stock offers 9.11% upside potential thanks to its average price target of $49.82.
