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eBay Inc (NASDAQ:EBAY) has entered into a definitive agreement for a series of transactions with Collectors, the parent company of PSA, the third-party authentication and grading provider in the collectibles industry.
The agreements include a commercial agreement, the sale of Goldin from Collectors to eBay, and the sale of the eBay vault from eBay to PSA. The financial terms were not disclosed.
The strengths of the respective companies is expected to support more streamlined buying, selling, grading, and storage experiences for the trading card hobby participants in the U.S. (The Hobby).
eBay and PSA will offer a full, customer-centric product experience for the collecting community that will be unveiled over the coming months.
PSA will introduce a new service offering to allow customers to list and sell trading cards on eBay at the time a card is graded, accelerating time-to-market and quality of listing.
eBay’s agreement to acquire Goldin, a U.S.-based auction house for trading cards and collectibles, will enhance existing marketplace offerings by expanding the range of inventory available to customers.
PSA has also agreed to acquire the eBay vault and will merge its existing vault services, along with eBay’s vault program, into a newly branded offering.
The transactions are subject to customary closing conditions and are expected to close simultaneously in the second quarter of 2024.
Price Action: EBAY shares are trading lower by 2.14% at $50.85 in premarket on the last check Wednesday.
Image by JHVEPhoto via Shutterstock
Posted In: EBAY
