Insane manipulation of retro game market

[m76]

 

This has to be criminal. Please tell me that doing this is not OK?

1. Auction house quetly sets up video game collectibe grading company
2. Said grading company uses said auction house as reference before doing any grading to speak of
3. People close to the auction company buy a few games at insanely inflated prices
4. then do a press release about how video game prices are going up to no end
5. news outlets dumbly reproduce the press release without looking into it
6. People from the grading company go on publicity tour valuing games 5-10 times their actual value on popular tv shows
7. Effectively creating a bubble where outsiders start buying games at inflated prices through them
8. Auction house cashes in on buyer premiums and seller commissions with literally zero monetary risk
9. The only people standing to loose are the ones holding the "million dollar" games when the bubble bursts

This is insanity.

 

 

[Empire]

One section of the video I want to point to though: Karl said Jeff Meyer was a director of the company and that wasn't disclosed to the public. But the SEC filings would have been that disclosure. Was the filing after the events of the Carolina collection or before? You could argue it is the responsibility of whoever is buying the collection to know who they are buying it from if the SEC filing was available for the public to read at the time.

This could be a whole lot deeper then even what’s being mentioned in this documentary

[m76]

they will probably argue that the filings are publicly available information if this ever gets to court, but that doesn't make the whole thing any less dirty. If they can  do this without actually breaking any law that's worse.

It's already deep enough. former Executive of grading company sells his collection of games to current director of grading company who then proceeds to use his own grading company to value the games, all while pretending to be a 3rd party in public. People with close ties to them started buying up games years before they started driving up prices. This is at best collusion to commit fraud. Whether it can be proven is another thing.

 

[Shagger]

I saw a story about that $2million Mario Bros cartridge and I suspected something was up. If this isn't illegal it should be. I mean, this if fraud.

[killamch89]

That's definitely fraud - purposely inflating the price of an item through deception and ripping off a buyer should absolutely count as fraud.

[Heatman]

On 8/24/2021 at 11:05 AM, m76 said:

 

This has to be criminal. Please tell me that doing this is not OK?

1. Auction house quetly sets up video game collectibe grading company
2. Said grading company uses said auction house as reference before doing any grading to speak of
3. People close to the auction company buy a few games at insanely inflated prices
4. then do a press release about how video game prices are going up to no end
5. news outlets dumbly reproduce the press release without looking into it
6. People from the grading company go on publicity tour valuing games 5-10 times their actual value on popular tv shows
7. Effectively creating a bubble where outsiders start buying games at inflated prices through them
8. Auction house cashes in on buyer premiums and seller commissions with literally zero monetary risk
9. The only people standing to loose are the ones holding the "million dollar" games when the bubble bursts

This is insanity.

 

 

Seriously - This is a complete fraud to me no matter the angle it's looked from with respect to the $2 million Mario Bros cartridge. How on earth did that happen? 

[Head_Hunter]

Lol, that's a huge money, I wonder why such kind of amount is stipulated to mario Bros cartridge, it's quite strange, unbelievable, that's suspicious one indeed

Edited September 23, 2021 by Head_Hunter

[skyfire]

Kind of feels like NFT games that are going on in the market. artificial inflation of price. 

[Heatman]

Greed is seriously the order of the day with what's happening in the game world. It's something that we can't help lately. 

[skyfire]

On 9/24/2021 at 2:18 PM, Heatman said:

Greed is seriously the order of the day with what's happening in the game world. It's something that we can't help lately. 

Studio game developers are greedy and not just loot boxes but also other means have been affecting the industry. 

[Heatman]

On 9/25/2021 at 11:17 AM, skyfire said:

Studio game developers are greedy and not just loot boxes but also other means have been affecting the industry. 

Yeah - it never gets too much in their eyes with the way they keep forcing it in on their games without thinking about the consequences. 

[killamch89]

On 9/25/2021 at 5:17 AM, skyfire said:

Studio game developers are greedy and not just loot boxes but also other means have been affecting the industry. 

It's not just the developers - other people how work in the industry are just as greedy and are all trying to maximize the amount of money they can get from you.

[Heatman]

6 hours ago, killamch89 said:

It's not just the developers - other people how work in the industry are just as greedy and are all trying to maximize the amount of money they can get from you.

In the end, greed is one big flaw that the business world is suffering from till date, and it's the customers that suffers it. 

[m76]

If the system rewards this kind of behaviour then it is the system itself that is flawed.

[Heatman]

1 minute ago, m76 said:

If the system rewards this kind of behaviour then it is the system itself that is flawed.

That's a very valid point if you look at it very closely because if there is a loophole to be exploited in the system, then it's supposedly flawed in the system.