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eBay, Collectors Enter into Commercial Agreement, Sign Deals for Acquisition of Goldin by eBay and Acquisition of the eBay Vault by PSA
eBay Inc., a global commerce leader that connects millions of sellers and buyers around the world, and Collectors, parent company of PSA, the leading third party authentication and grading provider in the collectibles industry, has announced they signed definitive agreements to enter into a series of transactions that include a commercial agreement, the sale of Goldin from Collectors to eBay, and the sale of the eBay vault from eBay to PSA. The differentiated and complementary strengths of the respective companies will support more streamlined buying, selling, grading, and storage experiences for all who participate in the trading card hobby in the United States (“The Hobby”).
eBay and PSA both have long track records of innovation in service of The Hobby, from helping people make their first trading card purchase with confidence, to supporting established small businesses and collectors with new tools and technology. These deals represent a compelling opportunity to accelerate innovation in the industry and enable game-changing benefits for collectors. Together, eBay and PSA will offer a full, seamless, customer-centric product experience for the collecting community that will be unveiled over the coming months.
“eBay is relentlessly focused on providing the best inventory and the highest level of trust for our global community,” said Jamie Iannone, CEO, eBay. “The deals announced today further our mission of reinventing the future of ecommerce for enthusiasts, and we are excited to partner with PSA to offer a simpler, more personalized experience for passionate collectors. PSA is a premier player in trading cards and collectibles with unmatched capabilities, and we believe our shared expertise will inspire even more people to sell, shop and collect with confidence.”
“This will benefit The Hobby above all else, which is the primary goal of this innovative partnership between eBay and PSA,” said Collectors CEO Nat Turner. “We will drastically improve the collector experience by creating a seamless, end-to-end journey. No matter an individual collector’s goals, this partnership will make collecting safer, easier and more fun. We’re excited to combine the scale and trust across eBay’s global marketplace with PSA’s authentication and grading expertise.”
The newly established partnership will combine complementary service offerings from each brand to remove friction from The Hobby and power a sophisticated, integrated program to buy, sell, grade, and store trading cards and collectible card games. The companies remain focused on enabling The Hobby while unlocking economic opportunity for all collectors to enhance their experiences along their collecting journey.
This partnership will also extend grading services to customers in the US through a simple and streamlined process, building upon the existing confidence buyers and sellers have in PSA’s grading expertise. Additionally, 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. Existing options for grading and sale will remain available.
eBay’s agreement to acquire 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 sellers. This will enable a more well-rounded collecting experience across price points.
“We see so much opportunity ahead with eBay, and I am incredibly excited for this new chapter for the Goldin brand,” said Ken Goldin, Founder and CEO of Goldin. “This deal will enhance and expand our reach as we continue to do what we do best – source incredible collector’s items – and connect with millions of enthusiasts around the world. I am looking forward to an amazing future with eBay.”
PSA has also agreed to acquire the eBay vault, while maintaining seamless access to vault services for eBay’s U.S. customers. There will be no immediate changes to the services provided for a period of time post-closing. After the deal closes, PSA will fold its existing vault services along with eBay’s vault program, into a newly branded offering with further details coming, including integrating selling and grading services.
Details on the Transaction
The transactions are subject to customary closing conditions, and are expected to close simultaneously in Q2 2024.
Centerview Partners is acting as financial advisor on the acquisition of Goldin and Freshfields Bruckhaus Deringer is acting as legal advisor to eBay. Allen & Co is acting as financial advisor and Sullivan and Cromwell is acting as legal advisor to Collectors.
About eBay
eBay Inc. 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.
About 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.
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 most exclusive 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.
Source: eBay
