Grading firm Wata is facing a lawsuit for allegedly ‘manipulating the retro game market’

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DPrinny
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Grading firm Wata is facing a lawsuit for allegedly ‘manipulating the retro game market’

Post by DPrinny » Fri May 13, 2022 3:36 pm

https://www.videogameschronicle.com/new ... me-market/

Think almost everybody with a brain guessed this was all sus when sealed games started selling for way more than then should

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RetroBob
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Re: Grading firm Wata is facing a lawsuit for allegedly ‘manipulating the retro game market’

Post by RetroBob » Fri May 13, 2022 5:18 pm

Good, this is censored a total scam. Karl Jobst has done a fabulous job of shining a light on this.
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TheAlex
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Re: Grading firm Wata is facing a lawsuit for allegedly ‘manipulating the retro game market’

Post by TheAlex » Sat May 14, 2022 3:08 pm

It's about time - Karl Jobst has done a great job indeed in bringing the grading scams to wider attention.

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Matt_B
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Re: Grading firm Wata is facing a lawsuit for allegedly ‘manipulating the retro game market’

Post by Matt_B » Sat May 14, 2022 7:33 pm

In all honesty, I'm not holding my breath. These guys are plainly working in the field of video games precisely to avoid the regulations that exist to stop price manipulation in more mainstream financial markets. It's hard to break the rules when there aren't any.

That said, the message is clearly out as to how their scam works; they're selling games to themselves via known accomplices to inflate their value. We just need everyone not to be greedy and take the bait... as if that would ever happen.

Ah well, if nothing else, their atrocious levels of service with games going missing, getting damaged and receiving dubious ratings including authentication of known fakes probably would merit some compensation under the law and ought to be warning enough.

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HalfAWorldAway
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Re: Grading firm Wata is facing a lawsuit for allegedly ‘manipulating the retro game market’

Post by HalfAWorldAway » Sun May 15, 2022 10:36 am

The retro scene can be really fun, but these guys just soured everything.

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Re: Grading firm Wata is facing a lawsuit for allegedly ‘manipulating the retro game market’

Post by kiwimike » Sat May 21, 2022 3:26 pm

Not surprising in the slightest. Very little you can do about this you would think, it would happen in multiple markets. The best thing to do is give a big "**** off" to stupid prices and not give in. I won't buy scalped gig tickets, I'm certainly not buying old toys for way more than their value. Of course you expect to pay a bit more for something you desire no longer in production....be music, game or classic book. But you can clearly see when something is ridiculously inflated. Don't give in to desire and cement the problem- you can't complain about traffic when you are traffic! ;-)

For this taken to absolute incredible levels check out the art world! "The price of everything" is a recommended watch. Idiots paying US$50K and so on for a couple of plastic lemons sitting in the corner. Totally utter bollocks and just as much of a con, marketing and artificially inflating the worth and importance of items. And these bored wealthy idiots happy to play the Emperors new clothes game, shuffling numbers around- paying for it while not paying for it via clever loopholes and so on- for bragging rights to an 'important piece' they don't even like. Slightly different but in many ways not- same same but different! If I ever buy games for bragging rights or status rather than enjoyment, shoot me!!!!

Greed is a universal language.

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Re: Grading firm Wata is facing a lawsuit for allegedly ‘manipulating the retro game market’

Post by DPrinny » Mon May 23, 2022 12:17 pm

HalfAWorldAway wrote:
Sun May 15, 2022 10:36 am
The retro scene can be really fun, but these guys just soured everything.
As soon as greed and making money comes into a hobby you get this type of people.

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SpecChum81
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Re: Grading firm Wata is facing a lawsuit for allegedly ‘manipulating the retro game market’

Post by SpecChum81 » Mon May 23, 2022 6:00 pm

I just hope this doesn't put too many people off!
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Re: Grading firm Wata is facing a lawsuit for allegedly ‘manipulating the retro game market’

Post by Matt_B » Mon May 23, 2022 6:24 pm

I doubt it's going to put anyone off playing retro games.

If it puts people off getting into collecting games they've got no interest in playing because they think it's some kind of get-rich-quick scheme, that's a positive for me.

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DPrinny
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Re: Grading firm Wata is facing a lawsuit for allegedly ‘manipulating the retro game market’

Post by DPrinny » Tue May 24, 2022 5:26 am

SpecChum81 wrote:
Mon May 23, 2022 6:00 pm
I just hope this doesn't put too many people off!
Well, I do tend to try to turn people away from collecting.
These days if someone wants to play something they dont need to pay those prices for it.

Someone asked on a Discord channel "Should I get a Nomad?"
My answer was "No"
They sell for far to much

Shelf collectors cant get to feck same with those that buy for value rather than the game. Its a media to be played not put on a shelf and sometimes glanced at

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