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WATA Finally Getting Sued?


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I’d like to think I was one of the first here to actually use the words “market manipulation”. These were posted  on the official “Heritage Auctions” thread:

On 5/2/2020 at 1:11 AM, GPX said:

I think it needs to be said that there is a difference between natural progression of demand versus natural progression of demand with market manipulation. 

I’m not gullible to think that market manipulation does not exist up until now. However, it’s the manipulation of the market that involves the addition of thousands to tens of thousands of dollars, that is annoying for me as a potential buyer, but I feel more for those who are potentially going to lose big. Good luck to those who have gained from current purchases, but how many will make losses?

 

On 5/20/2020 at 8:04 PM, GPX said:

I have some disturbing doubts as to the legitimacy of some of these sales when these sorts of end price results. Reasons:

- what kind of speculator would you be for seemingly doing ZERO research on an estimated value, and then chucking away 4 figure dollars?

- in speculating/investing, wouldn’t the aim be to buy low and then sell high? What we’re seeing with the prices is that if the auctions are legit, then the speculation is to spend 5-10 times the previous sales, and then hoping that they will resell for more? 🤪

 

Those thoughts above were me previously suspecting more the people at Heritage Auctions and the buyers being in some sort of collusion. I wasn’t agreeable to all the initial hype and WATA initial delays, but now seeing the full context of behind-the-scenes, it’s freakin’ amazing how they think they’d get away with all the shenanigans like this without rich people not going to be pissed off AND having the power to sue?!

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30 minutes ago, CT said:

If earlier the print run the better, shouldn’t sealed collectors be clamoring for the real first print i.e. the Japanese releases?

Not entirely.  I think there’s still the connectedness with something you culturally identify with.  I mean, people have tried to hype and sell over priced SMBs for the Famicom and, frankly, someone like me is interested in those too, however my main blocker for that is cost paired with lack of knowledge.  With a wide language barrier, it’s hard to get specifics in the US.

I also thought I’d mention that I’m also not just interested in first runs. My personal, favorite “grail” is a CIB, black rated E SML2. That varian was printed and sold after 2000. Not only that, but from what we’ve gathered, this was a re-release with SML and maybe another early title or two.  Regardless, these are quite rare (even as carts) and they are a testimony to the longevity of the Game Boy and how good those games were.  They had a print run for over 10 years!

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3 minutes ago, RH said:

Not entirely.  I think there’s still the connectedness with something you culturally identify with.  I mean, people have tried to hype and sell over priced SMBs for the Famicom and, frankly, someone like me is interested in those too, however my main blocker for that is cost paired with lack of knowledge.  With a wide language barrier, it’s hard to get specifics in the US.

I also thought I’d mention that I’m also not just interested in first runs. My personal, favorite “grail” is a CIB, black rated E SML2. That varian was printed and sold after 2000. Not only that, but from what we’ve gathered, this was a re-release with SML and maybe another early title or two.  Regardless, these are quite rare (even as carts) and they are a testimony to the longevity of the Game Boy and how good those games were.  They had a print run for over 10 years!

Prior to the WATA/HA cranial infestation, game collectors cared for the words “rare” and “mint”. First prints were rarely talked about simply because those were often mass produced and weren’t rare at all (for the most part)! I think rare print-runs and limited editions were more the fancy rather than first-prints. Sometimes first prints can be rare, so that would then be the obtainable challenge/goal.

It’s a completely different concept to that of comics and other older hobbies, whereby first-prints would mean many decades old, and most would likely be trashed and looking very ugly by present day. Hence those would generally be all rare in nice condition and would be adored by any such collectors.

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2 hours ago, RH said:

See, I can't agree to that.  If this isn't something you care about, then I could see why you would think it's all hype.  But there are some of us who have paid fine attention to the details of things we're passionate about our whole lives and for those of us who really appreciate historical context, having an item that was part of a first release, of an important item is something that you value.

I didn't get my NES in my home until 1989.  But now that I collect and own things, if I had a chance to pick up a nice conditioned copy of SMB1 from that very first US run, I'd love to have it and I'd gladly display it on my shelf.  It'd be part of that original history of that very first batch of maybe 5-10k copies that were released in the US.  This was the end of the over-produced Atari-age and from that point on, for many of us, that was a significant shift in gaming.

This is why I think early copies do matter.  It's like getting a First edition vs. Second edition or even Third edition of a book.  Tell a serious Tolkien collector that having a first edition of The Fellowship "shouldn't be a thing" and they'd laugh it off because it's well understood that the earlier you get to the type of publication, the more important, and close, the items is to the origination of it's significance.

You may not be into that type of thing, but whether it's early works of painters, books, comics, baseball cards or video games, these factors do matter and can greatly affect value.  I can't afford a $100k item and I'm definitely not setting on something that I think is.  That said, there are common market dynamics and saying a "first print" should have any special value just isn't true.

Yeah, that’s fair enough but we’ve also watched a lot of bullshit get price pumped based on “print run”.  Sure, theres an argument for wanting to own as close to the very first copy of SMB off the presses (like that time they found NES-001 on storage wars 😜) as you can get but it’s not like we are talking about something like GH copies that are not part of the original production.  It’s also not the same as some comic book produced in the 30s where 16 copies were produced using horse hair and papyrus.

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Administrator · Posted
4 minutes ago, a3quit4s said:

This whole thing is pretty much NintendoAges fault for keeping track of variants and whatnot. Fucking GoCollect Jeff and the Carolina collection and all that. It’s all connected I’ll tell you what 

image.jpeg.dcdf376c2f2aa691ce8ef9c83dd549fb.jpeg

I'm still waiting for someone to offer to buy this place. So far you've all posted basically nothing worth selling, get to work!

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18 minutes ago, Gloves said:

So far you've all posted basically nothing worth selling, get to work!

What are  you talking about?  Over in the Club section I've documented every single Barbie game available on the PS1.  Where else are you going to find this kind of information?  That has to be worth something, right?

 

 

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3 minutes ago, TDIRunner said:

I'll start thinking about names for the new website that will be needed after you sell this one and the new owner tanks it.  

I’m remembering a lot of NA chatter about calling this place purple Gannon something or other. Pretty glad it’s not that.

Edited by Hammerfestus
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Administrator · Posted
20 minutes ago, TDIRunner said:

I'll start thinking about names for the new website that will be needed after you sell this one and the new owner tanks it.  

Bro I'll make the next site, too. It'll be an endless loop. 

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Editorials Team · Posted
26 minutes ago, Hammerfestus said:

I’m remembering a lot of NA chatter about calling this place purple Gannon something or other. Pretty glad it’s not that.

Sounds like someone pretty awesome came up with that idea

....and I know @Gloves is sitting on it.  We'll have the last laugh.

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3 hours ago, Gloves said:

I'm still waiting for someone to offer to buy this place. So far you've all posted basically nothing worth selling, get to work!

All my beautiful MS paint contributions count for nothing?! I guess they laughed at Van Gogh in his time too... 😢

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11 hours ago, Gloves said:

I'm still waiting for someone to offer to buy this place. So far you've all posted basically nothing worth selling, get to work!

I dunno, the Heritage Auctions thread is pretty epic. So much data mining to be had!

 

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4 hours ago, Gulag Joe said:

Oh look, 45 comments of NOTHING HAPPENING other than Pat the nes punk collecting hundreds of thousands of views of the go-to content when things are slow. Rent must be due!

Lol, good ol' Joe! Never disappoints with his frigid-ass WATA takes! 😂

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6 hours ago, Gulag Joe said:

Oh look, 45 comments of NOTHING HAPPENING other than Pat the nes punk collecting hundreds of thousands of views of the go-to content when things are slow. Rent must be due!

Nothing happening other than supporting court documents?

Nice to see the WATA/HA media control team here using their fake online handle!

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30 minutes ago, a3quit4s said:

Nothing happening other than supporting court documents?

Nice to see the WATA/HA media control team here using their fake online handle!

I heard from somewhere that because this stuff is all collectibles there aren’t any laws or anything that prevents people from being smelly turds.  So while WATA/HA are a bunch of smelly turds, did they legally do anything wrong? Ethically and morally, without a doubt yes.

now, I know nothing about the law, so all this stuff I said could be a bunch of horseshit.

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