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Vintage video games, like factory-sealed copies of The Legend of Zelda and Super Mario Bros. for the Nintendo Entertainment System, have suddenly started selling for eye-popping prices, and a new video documentary claims potential fraud could be a big part of the reason why. It effectively charges auction houses, game graders, and certain collectors with conspiring to manufacture a retro game bubble and get rich in the process.
In a nearly hour-long video posted on August 23, YouTuber and GoldenEye 007 speedrunner Karl Jobst outlined a series of apparent conflicts of interest between Wata Games, the agency grading rare games, and Heritage Auctions, the company that has recently been selling them for record-breaking prices. Not only does he accuse Heritage Auctions of fraudulent behavior, he also questions the motives of Wata Games, which appears to be a revolving door between graders, collectors, and sellers. “There is a select group of very wealthy, very powerful people pulling the strings behind this recent spike in video game prices and the same people are making money hand over fist,” Jobst argues in his video.
Wata Games did not respond directly to a request for comment. However, Wata’ parent company has engaged the services of a PR firm called Goldin Solutions, which, among other reputation-related services, has provided “crisis communications” for some clients in the past.
Goldin provided Kotaku with the following statement on Wata Games’ behalf:
Wata Games is the trusted leader in collectible video game grading and we’re honored to play a key role in this booming industry that we are incredibly passionate about. We’re humbled by the support of our thousands of customers who trust us to provide accurate and transparent grading. The claims in this video are completely baseless and defamatory and it is unfortunate that Mr. Jobst did not contact us to give us the opportunity to correct him.
Source: Kotaku
