Wata SEALED Games Lawsuit Update!
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- čas přidán 22. 10. 2023
- An update on the Wata Games class-action lawsuit surrounding sealed and graded games -- fraud and RICO claims moving forward?!
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#gamecollecting #sealedgames #retrogames - Hry
If anything come of this lawsuit, I hope the following laws are passed:
1. Grading/authenticating/appraising services prohibited from having business connections with online auction/reselling/marketplace sites.
2. Grading/authenticating/appraising services prohibited from speculating on the value of collectibles.
3. Employees of grading services and auction sites are prohibited from participating in auctions as the buyer or the seller.
4. Auction sites/online marketplaces legally required to fully disclose both the identities of the auction winners/sellers as well as what the item actually sold for.
Completely agree with all of this. Buyers and sellers identities must be disclosed especially.
wata ruined the retro collection scene, glad theyre being sued. that sale of the super mario bros for 100k was the start of arbitrary inflation of prices of games. that jim guy owns heritage auctions right? and is ceo of wata. what he did was manipulating the market. which is rakateering, thats illegal af. just that last part of this video what theyre explaining is enough for RICO to stick.
To be fair to WATA, the retro collection scene was already complete bullshit. They just made it comically bullshit.
Have you seen goldin auctions? 3 years later Mario is still over 100k in value and a steal imo. Real ones understand the value of these pieces of history. Lots of other people just want to cry about it lol
I remember back when Pat had arguments with Bronty in NA. I would have never thought that Bronty would be in this situation 13 years later, and now NintendoAge does not even exist.
I'm glad you two specified not to be rude to parent company of WATA, but doing this while they have a booth there is still a power move lol. Hope you guys are enjoying life. We miss ya.
Was thinking exactly the same thing!
WATA being named after the Bruce Lee quote is probably the most appalling thing I have ever heard about a videogame grading company
A year or two ago i remember my friend coming to me telling me that his copy of final fantasy 7 was worth hundreds of thousands. It hurt me to burst his bubble had to walk him through the whole graded games situation.
Lmao. You enjoyed bursting his bubble. Dont lie. 😂
Always here for the WATA updates.
F**k Game Grading!!
Agreed. Glad, I found out about this before sending my games.
Evidence/links:
1) Money from sale of 1-Up Grading (Wata Games) to Jim Halperin foundation: pdf.guidestar.org/PDF_Images/2021/752/294/2021-752294319-202233129349101513-F.pdf (page 3)
2) Dan Maresca is Bronty -- seller of the $100K Super Mario Bros.
retrostack.substack.com/p/breaking-news-national-video-game
www.reddit.com/r/investing/comments/p1hh9q/anyone_tried_investing_with_lego/
3) Dan Maresca listed as part of the Wata advisory board -- web.archive.org/web/20191027183237/www.watagames.com/who-we-are
Thanks for your guys coverage of this event and overall content over the years, you are great! Some years ago I was blocked on Twitter for double posting I think there and here on CZcams. It took that to make me realize that I deserved that, I'd overstepped my bounds trying to bombard you with the same message on different sites (I guess I thought you wouldn't see both of them, and in my anxiousness I wanted to be seen and heard I suppose). Not long after thinking about it, I decided there was no reason to ask to you unblock because you were 100% correct to block me. But many years later, now in fact I've been thinking... I've long since improved the way I communicate online, and I think it would be a good idea to be on good terms with you even though we are internet strangers. I am still a fan, and will always be. Officially I would ask to be unblocked from Twitter? I will only ask here, and this once.... maybe some day in the future if I can travel again (I have limited mobility) I might meekly ask in person in half jest. However if you decide to keep me blocked, i completely understand, and will just continue to enjoy your content as I have since the block. Thank you, and keep up the good work... I might almost say, "the lord's work" for going after these scam video game related companies! Take care, and good health to both you and Ian! lol
That origin of the name Wata is just embarrassing. That'd be like starting a new company called _Herro_ or _Me So Solly._
What wlong with that?
a first printing of SMB1 even with a 9.9 grading shouldn't be 100K
The obvious sign that this situation is a scam is that the most common games are the ones being "sold" for the most money
The most common game? Bro Mario 100k sale is because it is one of the only sealed early productions left in the world. I think it’s funny when you all have such big opinions but you don’t even understand what you are talking about 😂
@@Time_Capsule_Museumhave you missed out on this controversy?
i don’t purchase games that I can’t eventually play, so graded games are pointless to me. There’s tons of ppl who want graded comics and it’s understandable why you wouldn’t want to read something like that. Graded games are harder to move because anyone actually into gaming isn’t going to drop crazy money on a huge library of sealed and slabbed stuff. Maybe a couple of things - sure, I get it. So, that basically leaves speculators. How many of those people are there really? Resellers already are generally annoying people to deal with when it comes to just loose copies of games. Add to that something slabbed and it’s like - no thanks! I don’t need it that badly. So, it’s basically just a bunch of greedy people with little to no actual love for or understanding of gaming trying to move shit that the internet tells them is worth tons of dollars. Collectibles will always be a buyers market, not the other way around. Prices reach a point on this stuff that ppl will just pass on it.
Agree 100% with you! I've opened several retro sealed games and will continue to do so. The point of a video game is to play and enjoy them. This whole debacle has severely and negatively impacted a hobby I really enjoyed. Where once I could get several games a week without spending very much to now I'm lucky to get 1 retro game a month. Just to get that 1 game requires so much digging and searching for something even resembling a fair price. When loose copies of Top Gun are being listed for $25 or Combat listed for the same....we have a problem.
I loved seeing vendors selling graded games. I knew which tables would have shitty prices and avoid them.
People been calling me jealous and poor because I've said Wata and grading in general was a scam.
Ahhh so the selling of sealed and graded games, has reached the levels of corruption that the selling of fine art has been at for decades.
Yeah, but maybe people will be able to fight it more here before it gets so bad. Maybe the art world didn't see it happening as fast because it was before the internet and people who did notice were silenced and not enough people had big enough balls to speak out. Pretty much my point is, two wrongs don't make a right. And I am not putting words in your mouth as they say, you never said this didn't deserve to have an end put to it. And I am just reiterating just because the art world has put up with it for decades doesn't mean the video game market should sit back and allow it for decades or even a few years and have fight back to said corruption. Too bad for the art world, lets make sure the video game world doesn't have the same fate.
that SM64 for that much money is still amazingly stupid.
Unless it was part of a scam.
its like buying a million dollar nft
As a collector of vintage toys I go by the rule of never opening or taking off card a toy made before say, 1990 or so. Just on the principle that if it’s survived this long intact, it should be kept as pristine condition as possible. However, slabbing and grading games is a different kettle of fish. These people don’t care about the artistry involved in the creation of these games. They care about buying, selling, flipping and their bottom dollar. As far as WATA is concerned, I would like to see all these selfish people lose their shirts on this fiasco. It’s like a pyramid scheme, it’s shady and it hurts the hobby.
The entire graded games market is bogus. But I think 99% of collectors want no part of slabbed games, so it’s not a big deal. Stay away people.
It's as Pat and Ian have states before. It's not truly collectors but rather outside figures who just see a market with potential to make money that end up driving the prices up. As a common person It always feels nice to know you own something rare and sought after, but at the same time most common folks wouldn't pay an arm and a leg when what they are usually after is playing the game and not just using it as fanciful decoration.
Speaking of I laughed a few months back when Jacob R posted an image of someone trying to sell a graded copy of Tears of the Kingdom for over $1000. Why just why? Who would think they can make that kind of money off a common game that is still being sold in stores lol.
You just can’t afford them 🤣
The entire retro game price system is bogus. CZcamsrs drive the inflated prices up creating a fake value to keep their collections 'value'
@@Bruuuuuh620 Slabbing games is dumb my dude. They're already sealed lmao. But you do you.
@@Bruuuuuh620Found the WATA schill spamming the comments section😂
I’ve got a pet rock YOU can’t afford. I gave it an arbitrary value that’s not based on anything tangible and is outside anything you could afford.
See? Same energy🙄
Great to see you guys out and about and doing your thing. Ian looks like he's having a good time. If you ever make your way down to the Tampa area I'll definitely come out to support.
Count me in! I'm in the Tampa area, too.
I just wanted to vent. I sold a sealed copy of dbz budokai on ebay because I need the cash. Someone tried to lowball me and i ignored them. Then they message me again and say theyre on a budget. I ignored them again because honestly who isnt on a budget these days??? Then they offer me more and say its their favorite game. We haggle and come to an agreement at 125 dollars and its Price charted at 130. Okay fine ill give you the 5 dollars no problem. Im thinking alright this guy will enjoy the game in his collection. Well today i go check his profile and i see this guy has 2.5k items sold. Im like oh interesting. I go check his feedback and immediately i see almost all his items sold are wata graded games. So this piece of shit literally lowballs and lies to people to get sealed games just to SCAM people into buying these fake graded games. Im beyond pissed off because i always said id NEVER sell anything of mine to a reseller IF i ever did sell. Im a gamer that was born in the 80s and i actually collect and play games. My collection is estimated around 10k dollars and most of it is consoles and games in their boxes from childhood. Im so disgusted right now. Part of me wants to message him and tell him what a piece of shit he is, but im sure ill end up blocked or reported to eBay for doing so. Why do people buy graded games???? Wata is a scam. They graded FAKE games. Games are not meant to sit in a case!!!
SEAAAAAAAAAAAAAAAAAAAAAAAALED
SEAAAAAAAAAAALLL-DAH!!!!
Should be called Wata-gate.
Grading sealed games is super bogus. When i worked at a games shop in the 90s some of the product we received wasn't sealed. The employees would vaccum seal the games ourselves. I get grading cards and comics cuz the quality of preservation is being scrutinized.
If they said WATA was the Japanese form in katakana, might be more dignified.
I miss the days of Luna horror stories. They should make a compilation of all the game store stories for us OG fans
Beware of Pats giant hand!!
Strange you'd get caught up on Bruce Lee's pronunciation of water as the origin for Wata's name, when in the entire quote, read with knowledge of Wata games shady dealings, seems to be a bit of a Freudian slip. Who doesn't want a grading company make it's way though the cracks 🤔
“When you put wata in a con-artist, it BECOMES the con-artist”
Glad i collect games to play them. Ive never understood the graded game collecting appeal. Hopefully the truth comes out.
I understand both. Personally I don’t play retro anymore. But they were such a massive part of my childhood it brings me endless joy to collect them. I collect factory sealed as they are in the same condition as when they were first made decades ago. I find that to be the coolest thing. The sealed game collectors and the collectors that play them are just from a different mindset. No one is wrong it’s just a different mindset if collecting
If that's how you want to collect then it's your life. I've never understood collecting thing you stare at. Collecting things you can use or play with makes sense to me.
I always find it humorous that wata employees have the nerve to show their face at venues like this. Surely they have to be aware of the company's Legacy.
Glad I was there to see you guys
You weren’t there. Sit down.
This is excellent news, I've been waiting for this news for sometime now, plus it's great to see Pat and Ian back together just like old times. I'm glad that WATA has been caught with their hands in the cookie jar with evidence proving they did start this retro video game grading thing on a fraudulent purchase, a huge power move by Pat and Ian, I'm glad the two of them said outright don't harass WATA since they have a booth here while they dropped their truth bomb, pretty wild stuff.
Great video.
Thanks for the update.
You guys do great work!!
I miss the CU podcast long time fan
i wouldn't necesarily get a game graded for financial gain but more or less for insurance purposes
Can you explain how that works? Can you not insure the game without grading it?
@@realpoopypants You absolutely can. No insurance company is gonna know or care if it’s graded. “Oh, it’s a ‘Pop 2’, 9.8?! That’s gonna put you in a higher liability bracket…”😂
yes but if you get it graded the value in which you can insure it can increase based on the grade@@realpoopypants
I want the WATA guys and Tommy in a cell for Christmas!
Dont forget the sale of NA and Pats good pal Dains Carolina collection
Wata such a terrible company especially how they've manipulated the one market that many so gamers love and enjoy. Hope they get whats coming for them!
When I hear about sealed graded stuff I just go WATAFU#$ !
What's the status with this lawsuit now? Literally 0 news out there. Does anyone have an update?
Not sure but somebody is trying to sell an 8.5 Wata graded WiiU Smash bros for $250K on eBay.
Glad, I found out about this before sending my games. Such and evil company...
WATA appears to be getting a bunch of new generation influencers on things like TikTok and Instagram to show off graded games to stay relevant. I just send clown emojis and love from Karl Jobst to them
great update!
great videos guys
You're using a Logitech Mouseman Wheel? That's serious dedication to an old mouse. I suppose it's pretty much the same as pulling out a Microsoft Intellimouse Explorer, and I've been guilty of that.
I remember this hit mainstream news back then (at least around here) and hearing about it because a family member knew I enjoyed collecting video games and told me about it and I can remember thinking something's not quite right here, something seems off because Super Mario Bros. no matter what edition it is, I don't care if it is a perfect 10, I don't really give a shit about grading video games, so I don't know if that's possible, because to me that's not what they are for but if that's you then you do you, but I digress, there is no way that is worth 100k. NO FUCKING WAY! 1k if you are lucky. Now to see this bullshit come to light I feel like my instincts were right on the money, so to speak. I felt the same way with the Mario64 that went for over 1mill, it doesn't get to be that way without something happening behind the scenes.
Rico is Mr Suave’s first name.
Racketeering and Influence in Corrupt Organizations.......R.I.C.O.
WATA is not making fun of Bruce Lee's accent. LOL
It's the noise he makes when he punches.
All this story completely destroyed the retro game collecting. EVERTHING is about 3 to 4 times higher then it should because of what happens.
Speaking of Pawn Stars i want to ask how much of that is scripted vs reality?
I still rewatch the clip of Pat's here and there and i wonder how do they decide what they want to film. Did Pat just wonder in there or did he have to call ahead etc lol.
dude....the whole thing is scripted. Those fat guys don't even work at the shop anymore. It's 100 percent scripted.....nothing "Live" about that show.
I think Pat signed an NDA so he can't really talk about his experience. From what I understand the deals are negotiated and then they film a phony interaction between the Pawn shop and the person with an item. The final price is real, but all of the negotiating seems to be for the camera.
I'm pretty sure they would take walk-ins too on filming days if you had something cool . My parents went to check the place out when they were in Vegas . They said there was a line at the door to get in and the bouncer came out and said they were about to film so everyone except people with something for sale should straight up leave . Then I assume they cherry pick any good items for possible filming .
@@bryanobrien2726 I heard it's pretty packed with people normally, so yeah, it's very scripted.
@@Rando1975 I assume that even the "customers" walking around in the background are planted during filming . That's why they always have hot chicks in shorts in the showroom wandering around .
In my language “water” means “vodka” 😁
I love that Pat is so passionate about this topic. Wata needs to be exposed. Then maybe my neighbors will stop thinking their copy of Mario / Duck Hunt is worth bank.
It is worth bank. There are very few of these in existence. It’s supply vs demand homie. Very simply economics not rocket science 😂
@@Time_Capsule_Museum You misread my comment and completely missed the point.
Why don’t you elaborate
@@Nobody93388 check his other comments on this page. He's just trolling. I doubt even he believes what he's saying.
I’m not trolling. If you are referring to factory sealed early prints of Mario.. which was what the big sale was, there are very few in existence. I guarantee your neighbor doesn’t have one 🤣
Hello
Here me out guys, the coin con guy from the 90s is just trying to go legit man, all this is just a HUGE misunderstranding and it's not AT ALL Jim seeing the same opportunity he tried for with the coins again. I mean, come on. THIS IS HISTORICAL PIECES MAN. YOU HAVE TO BE A REAL ONE TO SEE IT.
If there was a WATA 10.0 of Nintendo World Champions Gold it would probably have been so valuable it woiuld lead the United States into bankruptcy
I guess Ian's new job involves law.
works for his dad now pretty sure
I need a pen..
Or CU later guys, bet that's ones new
I want to buy an nft and have it graded
Why is the name WATA incensitive. It's pretty mild in terms of cancelling someone over.
Says the not-Asian guy. Glad for you to determine what's insensitive to Asians. Go through the shit I endured in middle and high school being one of a handful of Asian kids in a predominantly other school district then we can talk. I'm not advocating cancelling though, I'm just going to personally choose to not ever use them. But that's merely a sidenote to the sheer shady business practices is why they should be put under.
@@HerrBud Grand of you to assume I'm not asian. You'd be wrong. My picture is a meme of a Howard Stern staffer. Stop being offended just to be offended for other people.
@@ClintEatswood so maybe you're Asian, yes my bad for assuming. If you are Asian thoughm, that's even worse. I'm not being offended for other people. You asked why it's insensitive well I gave you a reason, I'm coming from a place where everybody knocks Asians but it's ok and if you want to be complacent, then I suppose that's on you. And learn to spell.
@@HerrBud Sounds like you need to move then😂
Ever hear the phrase “Go where you’re wanted”? It’s not just for business.
And before you ask, yes, I’m part Asian too, lol.
It was more cringey than offensive. But then again, so is having a Steven Seagal ponytail with glasses🤣
i figured it was a tribute to bruce lee.
WATA EXPOSED!
Man, this stuff was even shadier than we thought! I can't wait to see how this lawsuit turns out!
*cue the Dis Gon Be Good gif*
🤣
You guys just want a peace of that huge cake for your self that's all! There is no problem with graded games! I don't like Watas shady business or HA auctions weird bidding system since as programmer i would say there should be a created algorithm for bidding system, but sorry i don't think you don't have personal interest from this lawsuit otherwise you can publicly share the lawsuit documentation!
What’s going on? I thought this podcast ended?
it did?
I LOVE WAWA
So is my sealed bonks 3 worth a billion dollars?
I got sealed several video games to be graded. But I don't want to wait months to be graded.
🦭🦭🦭
I mean, it's pretty obvious that this was all fake. Aint known in the right mind. Ever gonna pray million dollars for a video game? And that's maybe some is rare like tetris on the On the mega drive Stadium events gold campus challenge stuff that's actually incredibly rare
You guys should go after the FDA next.
I knew i would CU again one day!
Is it me or is Ian starting to look more and more like John Riggs??
Nah John Riggs is huge.
@@brendanroberts1310 for real?? Heh its so hard to tell the size of anyone from videos!! I have no clue!
Ian has become the classic older nerd that dosen't walk nearly as much as he should and has a big beard with glasses. Its the international look of heart disease
Pat, are you a fan of Kevin Bacon? When I clicked on this for an at of him advertising for a phone network in the UK.
Filthy and underhanded, used to like bronty but he's just rotten to the core. Hopefully someone sees prison time on this, particularly Halperin since he felt he could take another whack at it again after losing fairly big harming the coin market with the same scam, pre-internet style.
Pat looks goofy 😂
Ya’ll realize video game grading existing far before WATA did right? And there is a reason people grade games.. lol.. y’all crack me up 😂
Guys looking thick
Graded cards and comics are the only media that will hold any real value in the future. Calling it now.
This will not age well 😂
@@Time_Capsule_Museum probable. Most things age like milk. But SOMETHING about paper items keeps them being collected, look at the first edition book market.
I would like to add, for the record, that I don't own a SINGLE graded item and never will.
That shit is a scam.
@@KiteAndKeyProductions yeah but a big part of grading is authenticating and preserving in nice case. The grading systems are flawed for sure, but buying an item raw vs graded there is a piece of mind from something that has been professionally authenticated. I find value in that so personally don’t see it as scammy.
Anyone following goldin auctions? Wata graded Super Mario bros bid is well over 100k already with 3 weeks to go. Yeah perhaps there was some manipulation back in 21. Time will tell. Doesn’t anyone trade the stock market?? Manipulation happens in every market. That’s just how it goes. Graded games it’s just a way of authenticating and sealing these beautiful pieces of history. Everyone can cry about the graded market all they want but graded games will only grow in value. ESPECIALLY these low pop Mario/Zelda’s which is VIDEO GAME HISTORY. Honestly everyone crying about it just doesn’t understand the market.
Obvious WATA schill is obvious 🎯
@@Felix.Dragon. lol bro, you realize there are massive game sales every month. All WATA schills? There isn’t a lot of reason/logic behind what you are saying
what does rico stand for? "do you know, i don't know". lol these guys are a joke
Ian looks like a reject from wheelchair basketball
Just like card grading companies. Wata doesn’t charge you until it’s graded. Do research.
Ian you look old brother, LIKE WAY WAY OLD THAÑ YOU ARE MY MAN. LOOSE THE BEARD BRO!!!