The Retro Video Game Market Has Officially CRASHED

[Gloves | 11,790]

... according to Karl Jobst:

 

How does it make you feel to know that your investments are now WORTHLESS? Let me know in the comments below!

[spacepup | 2,405]

I haven't watched the video yet, but, cheaper games? Sure, sounds good to me, hah!

Having not watched it - is this referring specifically to sealed and/or graded games, or games in general?  Either way it seems a bit splashy "HUGE CRASH OMG" but I guess that gets attention hah.

[Gloves | 11,790]

7 minutes ago, spacepup said:

I haven't watched the video yet, but, cheaper games? Sure, sounds good to me, hah!

Having not watched it - is this referring specifically to sealed and/or graded games, or games in general?  Either way it seems a bit splashy "HUGE CRASH OMG" but I guess that gets attention hah.

His video titles (like basically anyone else on the platform) are certainly a bit click-baity. But yes - this is purely looking at the graded game market.

[a3quit4s | 4,102]

Still don’t care about sealed or graded games so not much has changed for me. If true though I do hope people around here got the bag and are not bag holders. 

[TDIRunner | 2,742]

5 minutes ago, Gloves said:

His video titles (like basically anyone else on the platform) are certainly a bit click-baity. But yes - this is purely looking at the graded game market.

I hate click-bait titles, but it's part of the game.  The content creators know that their followers are going to watch their videos regardless. So they need to create titles that are good at attracting new viewers and a click bait title along with a good thumbnail is the best way to do it.  Most of the channels I follow do something similar, so I've learned to just ignore it and enjoy the video.  Hoovies Garage is another one.  I love that channel, but I absolutely hate the video titles.  

[OptOut | 8,889]

Oh noes!  My gains remain unrealized! UNREALIZED I tell you!!!  

[Gloves | 11,790]

34 minutes ago, a3quit4s said:

Still don’t care about sealed or graded games so not much has changed for me. If true though I do hope people around here got the bag and are not bag holders. 

It's common that once the public knows the bag exists, it's too late to take advantage of it.

[Rhuno | 107]

I've never thought of my games as investments, but I'd certainly welcome lower prices. So please, crash away!

[OptOut | 8,889]

5 minutes ago, Gloves said:

It's common that once the public knows the bag exists, it's too late to take advantage of it.

Pretty sure most guys involved in this around here were filling bank accounts, and not bags.

Perhaps try Go Collect and various comic book and baseball card forums to find the heaviest bag holders! 

[DefaultGen | 5,410]

You guys are still talking about video games? Lmao, everyone collects concert posters now. Get with the times.

[spacepup | 2,405]

51 minutes ago, Gloves said:

His video titles (like basically anyone else on the platform) are certainly a bit click-baity. But yes - this is purely looking at the graded game market.

Oh I know, mostly teasing.  I know they have to do that and they all do it, that's fine.

Specifically for graded market, it definitely appears to have gone down big time, which many suspected would happen as things were a bit crazy for a while.

I personally don't really follow the graded market closely and this doesn't really affect me much personally.

[a3quit4s | 4,102]

41 minutes ago, DefaultGen said:

You guys are still talking about video games? Lmao, everyone collects concert posters now. Get with the times.

GoCollect is gross

[ThePhleo | 2,185]

Nooooooo, I was supposed to retire off of Zelda manuals, and sealed Tecmo Bowl's.

[Hammerfestus | 3,852]

Hell yeah.  Bottom that sucker out.  I’m looking forward to more updates from those guys that have been opening sealed NES games.

[Reed Rothchild | 9,545]

So someone(s) was left holding the graded games bag?  Who could have seen it coming

[Tanooki | 4,934]

I'm finishing it up right now.  He actually does make a fairly interesting case and comparison, and a number of them are the same identical copies that lost like 50-97% of their first sale value to the second sale value.  One assumed dude who bought 100s of K's in games to have HA hold them in their vault, went to turn and burn them never touching the things and I think he said they lost nearly 400K.

The HA/WATA confidence crash perhaps is seemingly in full force and real.  How this trickles down if it does is yet to be seen, or is being seen but could just only be related to bidenomics/inflation going on currently.  Less money to throw around, game prices are falling with less willing to spend so much.

[Brickman | 3,991]

Another good video (minus the click bait title).

I don’t follow the sealed market so it was crazy to see how far these games have fallen and a lot of them are the “key titles” BS that WATA and the comic book investors were hyping up. 

2 hours ago, DefaultGen said:

You guys are still talking about video games? Lmao, everyone collects concert posters now. Get with the times.

What happened to VHS? I thought that was the next big thing or is that also already dead?

[Sumez | 2,964]

[SilverspoonGaming | 332]

The guy in the video is a tool.  I tried watching the video out of curiosity, but I got into the part about the first Madden on Genesis selling and was able to point out a few of his facts that were incorrect, and shut it off.

Heres what I noticed when he was stating his case:

The "first installment" of John Madden Football is not the Genesis release, and the first Genesis release, was never highly valued before the graded copy he speaks of sold, and it was never "rare" as he states, because that game sold over 400,000 copies based on my Wikipedia info, which I know is hit or miss.

[CT | 93]

1 hour ago, SilverspoonGaming said:

The guy in the video is a tool. 

 and it (John Madden football) was never "rare" as he states

We're talking about perceived rarity of a factory sealed game, in that condition for the first installment of the John Madden franchise on the Genesis.

Sadly Karl is not just some idiot Youtuber, he will admit any mistakes and he does his research. Feel free to message him if you believe you are correct.

EDIT:  I just watched the segment and Heritage Auctions was the one who called the game rare.

Edited November 9, 2023 by CT

[Jfreakofkorn | 282]

never understood at why send a game to get resealed with a premium

much rather get a plastic protector for the case and display it  

but if i wanted to get something graded , i would have to do some research on it

i know whata would nt be on the list as its not establish enough for me ( not more than 10 years  on the market )

but everyone has their own preference  

 

[Tanooki | 4,934]

Yeah that's a reach knocking Karl, yes he's a gamer, and used to do some crazy stuff maybe still does, but he also seems to fancy himself an investigative journalist among others, and has a good legal team (largely due to douchebag Billy) to run stuff by to keep himself straight too.  He uses and puts forth a lot of research, sources, what isn't sourced or perhaps he gets wrong he'll converse with you about it, make corrections and apologies if there is a slip while also calling himself out on it and displaying the right stuff.  I don't ever like following this type of stuff, but he has been so on point I keep those non-speed runner style stuff he also does in my feed for when some new nugget comes up.  Heritage called it rare, and that in itself is a misleading comment as it could be seen rare because of the grade, not for being an untried first in a franchise, and with them they throw rare around as much as ebay tools do with L@@K RARE! to oversell stuff too.

[Code Monkey | 2,011]

I feel like nobody understands the reason why prices blew up which lead to the reason why they crashed. Bitcoin blew up in 2020 with the halving and that caused all cryptocurrency to explode. That made a lot of people rich overnight and they started spending more on collectibles including video games, art, toys and cars. I bought a car in January 2020 and 6 months later similar cars were selling for 50% more than what I paid. You couldn't even get a used car for less than it sold new, it was insane.

Once all those people made a bunch of money, they sold off and the market crashed. Those that didn't understand the wave were left holding the bag wondering why it wasn't still going up. It's no surprise the prices crashed because of this and it'll happen all over again next year.

[Dr. Morbis | 2,089]

4 hours ago, Code Monkey said:

 ...and it'll happen all over again next year.

No it won't, you just haven't been in this hobby long enough to know that.  Graded/1st Print collecting is an artificial market because it had no natural demand; it is a new, unnecessary and unwanted market (to the people already in the hobby beforehand) created by the WATA founders to make boat loads of cash.  Who ever talked about first print games in the last twenty years before WATA?  Oh yeah: nobody!

This market is not and will not be cyclical because all of the hype men (WATA founders) have already sold the company and filled their bags and walked away with big-ass smiles smeared across their faces.  People like you who have spent thousands on sealed/graded games really don't want to be hearing all of this, so of course you'll be defending your "investments" to Kingdom come, but all I have to say to that is: I hope your video games are not your retirement fund...

Edited November 11, 2023 by Dr. Morbis

[Gloves | 11,790]

4 minutes ago, Dr. Morbis said:

No it won't, you just haven't been in this hobby long enough to know that.  Graded/1st Print collecting is an articial market because it had no natural demand; it is a new, unnecessary and unwanted market (to the people already in the hobby beforehand) created by the WATA founders to make boat loads of cash.  Who ever talked about first print games in the last twenty years before WATA?  Oh yeah: nobody!

This market is not and will not be cyclical because all of the hype men (WATA founders) have already sold the company and filled their bags and walked away with big-ass smiles smeared across their faces.  People like you who have spent thousands on sealed/graded games really don't want to be hearing all of this, so of course you'll be defending your "investments" to Kingdom come, but all I have to say to that is: I hope your video games are not your retirement fund...

I believe he's referring to how Bitcoin will be halving again next year, which means you can anticipate it to skyrocket in price, thus more people suddenly rich, and more people in our and other similar collecting hobbies.