13 votes

Exposing fraud and deception in the retro video game market

5 comments

  1. Deimos
    Link
    Seth Abramson has been writing a lot about this lately too. They're long posts, and some of it's very similar to what's in this video, but there's also a lot of new (and damning) information. I...

    Seth Abramson has been writing a lot about this lately too. They're long posts, and some of it's very similar to what's in this video, but there's also a lot of new (and damning) information. I thought the third part was especially good, where he randomly discovers that he had previously bought multiple games from one of the WATA founders completely coincidentally:

    1. National Video Game Scandal Deepens As Purchaser of Historic Super Mario Bros. Game Is Revealed to Have Represented Himself As Co-Founder of Company That Graded It and Set Its Value
    2. A Major Scandal at the Heart of a New "Alternative Asset Class" Market Is Clearly About Something Other Than Vintage Video Games
    3. Video Game Grading House WATA Told the New York Times That Its Employees Can't Sell WATA-Graded Games Due to Conflicts of Interest. So Why Did One of Its SEC-Listed Co-Founders Just Sell Me Three?
    4. Proof Responds to WATA Co-Founder Mark Haspel
    5 votes
  2. [4]
    Liru
    Link
    A surprisingly in-depth look into the why and how of recent reports that old games are selling for record prices, and was even previously discussed on Tildes. This video also introduced me to...

    A surprisingly in-depth look into the why and how of recent reports that old games are selling for record prices, and was even previously discussed on Tildes.

    This video also introduced me to businesses that revolve around "buying shares in an individual game cartridge" as a service, and I'm kind of surprised that there are people that become involved in that.

    4 votes
    1. imperialismus
      Link Parent
      I remember that discussion! It's nice to see somebody do the investigative work to prove the intuitive assumption that this whole thing is rotten, corrupt, and manipulative. Incredible that Jim...

      I remember that discussion! It's nice to see somebody do the investigative work to prove the intuitive assumption that this whole thing is rotten, corrupt, and manipulative. Incredible that Jim Halperin was part of a million-dollar settlement in the 1980s for fraudulent coin grading and now he's applying the exact same playbook to video games.

      The worst part of it is, let's say somebody wants to actually play an old N64 or NES game on the original console. Now the most scuffed cartridges will be sold for ten times the price just because some old dudes decided to get rich off of factory sealed games.

      3 votes
    2. [2]
      AugustusFerdinand
      Link Parent
      Pinging... @teaearlgraycold @cfabbro @stu2b50 @Greg ...who were all in the previous conversation.

      Pinging... @teaearlgraycold @cfabbro @stu2b50 @Greg ...who were all in the previous conversation.

      4 votes
      1. cfabbro
        Link Parent
        Thanks for the ping. I likely would have missed this otherwise.

        Thanks for the ping. I likely would have missed this otherwise.

        1 vote