Heritage Auctions Thread

[Jeevan | 8,911]

14 minutes ago, AdamW said:

For anyone who wants to do their own research, the filings are easy to find:

https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001711064&owner=exclude&count=40&hidefilings=0

There are indeed three, dated 2017-07-27 then 2017-12-11 then 2018-07-11, and Dain's name is only in the first. Jeff only shows up in the third.

I did five minutes of research on these forms, and they are apparently required to be filed any time a company like WATA sells shares in itself. These filings represent three separate offerings of shares, the first valued at $125,000, the second at $950,000, the third at $231,000. These are the requirements for who must be listed on a Form D filing (from https://www.sec.gov/about/forms/formd.pdf ) :

Each executive officer and director of the issuer and person performing similar functions (title alone is not determinative) for the issuer, such as the general and managing partners of partnerships and managing members of limited liability companies; and
• Each person who has functioned directly or indirectly as a promoter of the issuer within the past five years of the later of the first sale of securities or the date upon which the Form D filing was required to be made.

so assuming those rules were followed, Dain could not have been an "executive officer" or "director" of WATA after 2017-12-11, nor could he have ever "functioned directly [or] indirectly as a promoter" of WATA.

Jeff is listed on the last one, so is he lying then?  He said he stepped down, but nothing has been added etc.

Forgive me as i dont know anything about SEC rules and when they have to refile etc.  So does that mean Jeff still is a part of wata because it wasn't refiled?  Just asking really because if that is the case and wasn't refiled, then he is still on the wata list right?  

Seriously just wondering as i dont deal with this and i do want to know.......

[CodysGameRoom | 2,008]

4 minutes ago, ExplodedHamster said:

What the hell dude? It’s stupid ad hominem class warfare like this that ruins shit and devolves conversations. 
 

To the point, the clear suggestion was Dain was part of some conspiracy with the Carolina Collection and schemed with WATA to destroy NA, and the timeline does not support. Forgive me if I have a different opinion.

That wasn't the point. Watch the video. The point was that if WATA has a policy that employees can't grade or own graded games via their own company, and they are violating that policy, that it is wrong. That was the whole point of the segment. Please try to understand what you are talking about before you go in a completely different direction than the source material. Because that is what ruins shit and devolves conversations. 

 

[Gulag Joe | 582]

12 minutes ago, CodysGameRoom said:

But he was one at one time. Which is what the video said. "two men who were or are a part of WATA". Can we please table this now? Can anyone who disagrees go back and watch the video so we can discuss the more important parts of it?

You can't just table it there. Jobst is trying to implicate these people of committing some type of crime.  Just because he used to be a part of something and now isn't makes him guilty of committing this crime?

Imagine if you were part of a business that you sold early on, and years later the new owner of that business was eating humans in the basement. 

"Who owns Cody's Game Room?"

"Well, it's Cthulhu, but Cody was or is the owner, so it's definitely Cody!"

Edited August 26, 2021 by Gulag Joe

[arch_8ngel | 1,597]

3 minutes ago, BriGuy82 said:

I would be upset for Dain too. I'm sure he's a good guy from all the accounts I hear about him. And hopefully he was smart enough to cut his ties from wata early enough to come out of this squeaky clean. But from an objective stand point... the optics... they aren't looking to good. I mean those other guys could be fucked...But Dain, he might have a shot to come out unscathed. I'm sure he must be thinking about lawyering up if he hasn't already. 

I'm missing something -- what "scathing" would Dain suffer from any of this beyond the annoyance of harassment from the uninformed public?

The only lawyering Dain would need is suing Karl for defamation that led to subsequent harassment.

[arch_8ngel | 1,597]

7 minutes ago, Jeevan said:

Jeff is listed on the last one, so is he lying then?  He said he stepped down, but nothing has been added etc.

Forgive me as i dont know anything about SEC rules and when they have to refile etc.  So does that mean Jeff still is a part of wata because it wasn't refiled?  Just asking really because if that is the case and wasn't refiled, then he is still on the wata list right?  

Seriously just wondering as i dont deal with this and i do want to know.......

Pretty sure those filings have nothing to do with registering corporate leadership or board members.  They are solely for selling shares in a company with an exemption from Regulation D.

The only information they provide is how much money people invested in the company under that exemption, and the supposed corporate leadership at the time of filing (but not before, and not after)

Edited August 26, 2021 by arch_8ngel

[CodysGameRoom | 2,008]

1 minute ago, Gulag Joe said:

Jobst is trying to implicate these people of committing some type of crime. 

Wrong. Watch the video. He's simply stating that if WATA has a policy of employees not grading or owning graded games from them, but then are actually allowing it, that it is wrong. He never said anything about a crime. You don't know what you are talking about and you are the one who needs to stop. WATCH THE VIDEO AGAIN if you don't understand the points Karl was making. 

Or you can keep saying the same thing, because it will CERTAINLY change my mind if you repeat it enough.

[OptOut | 8,884]

2 minutes ago, Gulag Joe said:

A crime was committed. This is the crime and we think its Cody because he was or is at the scene of the crime.

Well which one is it?

The crime scene was outside a 7 Eleven this morning. Cody was there a couple years ago.

Cody = the suspect based on Jobst logic!

Holy shit am I glad none of you people are in charge of anything!

The more desperate your flailing, the more adorable you become! 

Tell me that one you do again, you know, where these games are all super rare and hundreds of thousands of millions of new collectors are pouring into the market every day, and every one of them is SUPER hard-on nostalgic for these old games and MUST own them at any price because of how collectable they are and just want to own them forever and ever! I love that one!

I am absolutely certain that none of the demand in this market is driven by anything else other than solid market fundamentals and rational, long-term growth minded investors! 

100% pokepark on Wii will still be worth 20k in five years, right? People will still be spending 200k on copies of FF7 and not even the first print or whatever, in like 2026, right? 

Man, what heady days, I should pick up another PALLET of Bioshock Infinite while it's still cheap, huh?! 

[AdamW | 713]

4 minutes ago, Jeevan said:

Jeff is listed on the last one, so is he lying then?  He said he stepped down, but nothing has been added etc.

Forgive me as i dont know anything about SEC rules and when they have to refile etc.  So does that mean Jeff still is a part of wata because it wasn't refiled?  Just asking really because if that is the case and wasn't refiled, then he is still on the wata list right?  

Seriously just wondering as i dont deal with this and i do want to know.......

There's no later filing, so you couldn't prove anything either way with SEC filings, I think. You're not required to file a new form D or an amendment just because your directors/executives change. The point of form Ds is to report an issuing of shares; the listing of executives is relevant information to the share issue, it's not the actual point of the form. You have to file a new form D if you issue more shares, and you have to file an amendment at least once a year if a previously-filed issuing is still 'open' (i.e. not all the shares from it have been sold yet). But if all previously-issued shares have been sold, and you haven't issued any more, you don't have to file any more form Ds.

So, all we know is that WATA sold all the shares from those three issues within a year after filing them, and didn't issue any more after the third, and we know the executives/directors of the company on the dates of each of the three filings. The filings don't provide any more information after that.

[Woobie | 46]

11 hours ago, Dr. Morbis said:

...And as for the topic: Hey you guys! We already knew all this shit for 2+ years; why is it suddenly such a revelation now?!?

That was alot of my initial thought too, alot of this stuff was tossed around and discussed a while ago. I guess partly because of the large sales now its "ohh look what we founnnd!"

Knew 90% of the information already, I mean its great its getting more "public attention" but good lord all I see now on every page I am on is just back and forth drama.

If you are like "Well he left some info out and its a bit one-sided" you get shit on

If you say, "Oh wow thats crazy, cant believe that all these people are connected", you get shit on

Its caused such a rift in the community and its like if you point out issues with the video your a WATA shill and "must be too invested in the market". I pointed out issues with the other "report" with the "Population report", like where is he pulling data from? How does he distinguish the same game being sold multiple times? Does he count it twice or is it still just the same one being re-sold.

Its tiring, just buy what you want, spend what you want and be happy. I get people being upset because "its affected CIB and loose", I partially disagree with this tho. Covid has driven up anything collectable or "entertainment", some loose has already started to come back down, CIB market felt ripe to start going up though as collectors moved on from loose -> CIB or down from "well im priced out of sealed, might as well get mint CIB instead"

Just tired of alot of the divisiveness, People can agree with you or disagree, pointing out flaws on one side or the other doesnt make you a "hater" or a "Shill". Alot of the intelligent debate is watered down by stupidity of "You just must be invested!". Anyways, my 2c and end of my rant

[Gulag Joe | 582]

1 minute ago, CodysGameRoom said:

Wrong. Watch the video. He's simply stating that if WATA has a policy of employees not grading or owning graded games from them, but then are actually allowing it, that it is wrong. He never said anything about a crime. You don't know what you are talking about and you are the one who needs to stop. WATCH THE VIDEO AGAIN if you don't understand the points Karl was making. 

Or you can keep saying the same thing, because it will CERTAINLY change my mind if you repeat it enough.

The entire thesis of the Jobst video is to show that there are financial crimes being committed by way of market manipulation (which is illegal) and all the people he names are at the center of it and are the primary suspects of that crime. What video are you watching?!

[avatar! | 1,812]

2 minutes ago, CodysGameRoom said:

Wrong. Watch the video. He's simply stating that if WATA has a policy of employees not grading or owning graded games from them, but then are actually allowing it, that it is wrong. He never said anything about a crime. You don't know what you are talking about and you are the one who needs to stop. WATCH THE VIDEO AGAIN if you don't understand the points Karl was making. 

Or you can keep saying the same thing, because it will CERTAINLY change my mind if you repeat it enough.

Exactly. He never said anything about a lawful crime. He is discussing how they are building a bubble, which is NOT against the law as far as I know. Their practices sure are sketchy at best, but as far as I can tell not unlawful. He goes out of his way to NOT discuss money laundering because it is just speculation (and that would be considered libel).

[arch_8ngel | 1,597]

2 minutes ago, OptOut said:

 

I am absolutely certain that none of the demand in this market is driven by anything else other than solid market fundamentals and rational, long-term growth minded investors! 

100% pokepark on Wii will still be worth 20k in five years, right? People will still be spending 200k on copies of FF7 and not even the first print or whatever, in like 2026, right? 

 

Let's take a couple steps back and recognize that the most logical explanation for the insane prices, across the board, is a flood of crypto-money and meme-stock-money from people cooped up in their mom's basement for the past year.

 

And let's take a few moments to consider that if WATA did, in fact, successfully complete their sale to a major company, that the buying company would have thoroughly audited their books and probably would have been turned off / turned away by self-dealing that might be construed as borderline fraud.

[kell | 102]

Board members are not employees. 

Edited August 26, 2021 by kell

[BriGuy82 | 768]

3 minutes ago, arch_8ngel said:

I'm missing something -- what "scathing" would Dain suffer from any of this beyond the annoyance of harassment from the uninformed public?

The only lawyering Dain would need is suing Karl for defamation that led to subsequent harassment.

Let's say hypothetically, down the road someone tries to sue wata or heritage or whom ever. I'm not saying he personally committed a crime, but what I'm saying is because of his former affiliation he could end up getting dragged into it somehow. You never know. That's what I meant by unscathed. 

[CodysGameRoom | 2,008]

1 minute ago, Gulag Joe said:

The entire thesis of the Jobst video is to show that there are financial crimes being committed by way of market manipulation (which is illegal) and all the people he names are at the center of it and are the primary suspects of that crime. What video are you watching?!

The section where Dain is mentioned is specifically referring to WATA's policy that employees cannot use their service to grade, and cannot own WATA graded games. The whole point of mentioning Dain and Jeff is clearly to show that WATA MAY be shady with some of their practices. He never accuses DAIN of financial crimes. He doesn't mis-represent Dain in any way and it's fucking silly that you are still harping on it with useless analogies. 

[BriGuy82 | 768]

11 minutes ago, arch_8ngel said:

I'm missing something -- what "scathing" would Dain suffer from any of this beyond the annoyance of harassment from the uninformed public?

The only lawyering Dain would need is suing Karl for defamation that led to subsequent harassment.

My plan to manipulate the archangel market and drag your ass into this thread worked. Guilty as charged your honor.

[ExplodedHamster | 404]

7 minutes ago, CodysGameRoom said:

Wrong. Watch the video. He's simply stating that if WATA has a policy of employees not grading or owning graded games from them, but then are actually allowing it, that it is wrong. He never said anything about a crime. You don't know what you are talking about and you are the one who needs to stop. WATCH THE VIDEO AGAIN if you don't understand the points Karl was making. 

Or you can keep saying the same thing, because it will CERTAINLY change my mind if you repeat it enough.

Yeah and my point if Dain was not an employee when someone else 2 years later graded games they bought from Dain, maybe people should pump the brakes a bit where Dain is concerned. That’s all.

[OptOut | 8,884]

3 minutes ago, arch_8ngel said:

Let's take a couple steps back and recognize that the most logical explanation for the insane prices, across the board, is a flood of crypto-money and meme-stock-money from people cooped up in their mom's basement for the past year.

 

And let's take a few moments to consider that if WATA did, in fact, successfully complete their sale to a major company, that the buying company would have thoroughly audited their books and probably would have been turned off / turned away by self-dealing that might be construed as borderline fraud.

I'm not saying WATA or HA or whoever are buying these games, or that the bids are fake or anything like that.

It's worse.

It's idiots. 

[arch_8ngel | 1,597]

Just now, BriGuy82 said:

Let's say hypothetically, down the road someone tries to sue wata or heritage or whom ever. I'm not saying he personally committed a crime, but what I'm saying is because of his former affiliation he could end up getting dragged into it somehow. You never know. That's what I meant by unscathed. 

If I were him, I wouldn't be concerned about that, at all.

And if I were Karl, I would have done a shitload more due diligence before dragging Dain into it.

[CodysGameRoom | 2,008]

3 minutes ago, kell said:

Board members are not employees.

Yes, I'm well aware. This was discussed earlier in the thread. I was simply trying to explain the context of that segment of the video. 

[Gulag Joe | 582]

5 minutes ago, avatar! said:

Exactly. He never said anything about a lawful crime. He is discussing how they are building a bubble, which is NOT against the law as far as I know. Their practices sure are sketchy at best, but as far as I can tell not unlawful. He goes out of his way to NOT discuss money laundering because it is just speculation (and that would be considered libel).

"Building a bubble" is market manipulation. Market manipulation is a crime. A whole bunch of people got in trouble a few years back by breaking the law by building a bubble that caused the entire world to go into a recession. 2008 wasn't that long ago.

[CodysGameRoom | 2,008]

2 minutes ago, ExplodedHamster said:

Yeah and my point if Dain was not an employee when someone else 2 years later graded games they bought from Dain, maybe people should pump the brakes a bit where Dain is concerned. That’s all.

I still feel like people here are forming their opinion on Dain based more on the whole experience with his part in the destruction of Nintendo Age, more so than the brief moment he's mentioned in the video. I understand why.

 

3 minutes ago, arch_8ngel said:

if I were Karl, I would have done a shitload more due diligence before dragging Dain into it.

He didn't really drag Dain into it... he mentioned him for context mostly.

[arch_8ngel | 1,597]

4 minutes ago, OptOut said:

I'm not saying WATA or HA or whoever are buying these games, or that the bids are fake or anything like that.

It's worse.

It's idiots. 

We're in a reality where people are paying hundreds-of-dollars-per-share for Gamestop and whatever silly money AMC is going for right now, amongst a dozen other meme-stock contenders  -- the world is full of idiots right now who clearly have more money than sense.

Zero surprise to me, at all, that it spills over to a mania in collectibles.  (just look at sports cards with the store-stockers being stalked/harassed on their store runs)

 

This is ultimate-Hanlon's-razer going on.

Edited August 26, 2021 by arch_8ngel

[CodysGameRoom | 2,008]

2 minutes ago, Gulag Joe said:

"Building a bubble" is market manipulation. Market manipulation is a crime. A whole bunch of people got in trouble a few years back by breaking the law by building a bubble that caused the entire world to go into a recession. 2008 wasn't that long ago.

Weird. You DO understand it. So it's willful ignorance then? 

[arch_8ngel | 1,597]

1 minute ago, CodysGameRoom said:

 

He didn't really drag Dain into it... he mentioned him for context mostly.

Naming a private citizen, who you haven't received any permission from, in a massively public video of generally negative tone definitely fits my definition of "being dragged into it".