Goldin Vault

[Fred]

If I understand this correctly the purchaser of a card is supposed to pay for the card and then let it sit in a vault instead of taking possession of it? Crap, I guess I'm doing this wrong because for some reason or other I want the pretty piece of card board in my hand after I purchase it.

This almost sounds like you purchase a card, allow the auction company to hold on to it until you feel the time is right to allow the AH to put it up for auction again.

It doesn't matter if the card sells for more or less than the previous auction because the AH collects the 20% buyers premium, again, without any risk of losing $$ on the material that is being auctioned because they don't own it.

This sounds more like a new hobby where you ride the ride and hope you're not left holding the bag at the end of the bubble.

[Mark17]

Originally Posted by Fred

This almost sounds like you purchase a card, allow the auction company to hold on to it until you feel the time is right to allow the AH to put it up for auction again.

Yes, for people who treat their cards as assets, and think of their transactions as stock trading, that's exactly what it is. You buy a stock (or card,) hold it for some time, and eventually sell it when you think the market is favorable, or when you need the cash.

The vault makes it easy to buy and sell, and saves you shipping costs both ways, not to mention insurance if your stuff is very valuable.

Since I'm a traditional collector the vault isn't for me, but I can see how it might not be a bad concept for some.

[mrreality68]

Originally Posted by Mark17

Yes, for people who treat their cards as assets, and think of their transactions as stock trading, that's exactly what it is. You buy a stock (or card,) hold it for some time, and eventually sell it when you think the market is favorable, or when you need the cash.

The vault makes it easy to buy and sell, and saves you shipping costs both ways, not to mention insurance if your stuff is very valuable.

Since I'm a traditional collector the vault isn't for me, but I can see how it might not be a bad concept for some.

+1 agree

That is why it is important for each person to understand both how the vault works and what are the pro’s and con’s for each individual.

For me as a collector It is not right for me.

[Yoda]

I could possibly understand the vault concept for, say, a high grade Zion RC, but for a '33 Goudey Ruth never.