4 ms·

There has been a lot of people calling out the role of game-graders and auction-houses in artificially raising the prices of video-games. For example this expo

There has been a lot of people calling out the role of game-graders and auction-houses in artificially raising the prices of video-games. For example this expose: https://www.youtube.com/watch?v=rvLFEh7V18A https://www.youtube.com/watch?v=rvLFEh7V18A But I think it's fair to say that the people who are paying these prices are not interested in gaming per se, instead seeing their purchases as investments - after all the prices keep going up, and their grades are "the best". What could go wrong? (Ignoring the fact that millions of cartridges exist, of course.)

Waterluvian 4y ago
I don’t think “investment” is the right word. I think it’s closer to “collecting.” They may say “investment” to make their expensive hobby seem more acceptable to the judgmental parts of society. Though perhaps it is like Beanie Babies: people are truly fooled into thinking they’re making an investment.
- stevekemp 4y ago
  I'm talking about the people buying the carts for $1,000,000+ they're very different from the "real gamers", for want of a better term.
  - dfxm12 4y ago
    Collectors, gamers and investors are 3 different groups (with some overlap, of course). Gamers buy the games to play them. Collectors buy with the intent of holding on to the collectable forever. Investors buy games with the intent of reselling them later (hopefully at a higher value). I think at a certain price, collectors and investors wouldn't play the game though - it could reduce the value to either of them. Gamers also don't necessarily care about the condition of games (scratches on the label), having the box and manual, etc. The price difference between loose carts and CIB games, games with matching serials to the box (if applicable) reflects this. Hell, I've seen just a Super Grafx BOX go for a few hundred - but that is a worthwhile investment if you're trying to resell your SUper Grafx, and some collectors need it to completed their collection.
    - chongli 4y ago
      Investors is too generous of a word. These people are speculators, nothing more. They're trying to cash in on an asset bubble in the making. Same story with crypto. A few of them will time the market perfectly and come away rich. The rest will be caught holding the bag.
      - overtonwhy 4y ago
        Speculators and manipulators like Wata/Heritage. An auction house that allows anonymous bids and sales? Hello wash trading.
- astura 4y ago
  At least some people are being conned into thinking this is an investment - fractional shares exist to own a product you'll never see. https://www.wired.com/story/video-game-stocks-vintage-games-mario-pokemon/ https://www.wired.com/story/video-game-stocks-vintage-games-...
- joncrocks 4y ago
  There was an amusing SNL sketch on this point not very long ago. Someone announcing his pending retirement at a dinner party, and how he was now going to live off his 'investments'. A display cabinet of beanie babies.
  - at-fates-hands 4y ago
    Good article on the Beanie Baby bubble that occurred in the late 90's: https://www.wbur.org/hereandnow/2015/03/02/beanie-baby-bubble https://www.wbur.org/hereandnow/2015/03/02/beanie-baby-bubbl...
  - dmix 4y ago
    I always find Christies auctions amusing, take these $150k Harry Potter 1st edition collection, the first paragraph highlights spelling errors, right after authors signature. Clearly valuing that very highly: > with the ‘wand’ error on p. 53 and the misspelling of ‘Philosopher’s’ on the lower board. https://www.christies.com/en/lot/lot-rowling-j-k-b-1965-6382805/ https://www.christies.com/en/lot/lot-rowling-j-k-b-1965-6382...
    - thaumasiotes 4y ago
      You might be interested in synthetic gemstones, often available at 99.9 - 99.99% discounts to "natural" stones due to their much higher quality.
Ekaros 4y ago
The most insane or sad is that there is some market for fractional ownership... Of collectibles in general, but also games... That alone should prove that it really isn't fully about owning it or nostalgia... At least in any sense I understand.
- vanattab 4y ago
  Just because it exists does mean it's common though. I doubt very many collectors participate in fractional ownership.

Waterluvian 4y ago

I don’t think “investment” is the right word. I think it’s closer to “collecting.” They may say “investment” to make their expensive hobby seem more acceptable to the judgmental parts of society. Though perhaps it is like Beanie Babies: people are truly fooled into thinking they’re making an investment.

stevekemp 4y ago
I'm talking about the people buying the carts for $1,000,000+ they're very different from the "real gamers", for want of a better term.
- dfxm12 4y ago
  Collectors, gamers and investors are 3 different groups (with some overlap, of course). Gamers buy the games to play them. Collectors buy with the intent of holding on to the collectable forever. Investors buy games with the intent of reselling them later (hopefully at a higher value). I think at a certain price, collectors and investors wouldn't play the game though - it could reduce the value to either of them. Gamers also don't necessarily care about the condition of games (scratches on the label), having the box and manual, etc. The price difference between loose carts and CIB games, games with matching serials to the box (if applicable) reflects this. Hell, I've seen just a Super Grafx BOX go for a few hundred - but that is a worthwhile investment if you're trying to resell your SUper Grafx, and some collectors need it to completed their collection.
  - chongli 4y ago
    Investors is too generous of a word. These people are speculators, nothing more. They're trying to cash in on an asset bubble in the making. Same story with crypto. A few of them will time the market perfectly and come away rich. The rest will be caught holding the bag.
    - overtonwhy 4y ago
      Speculators and manipulators like Wata/Heritage. An auction house that allows anonymous bids and sales? Hello wash trading.
astura 4y ago
At least some people are being conned into thinking this is an investment - fractional shares exist to own a product you'll never see. https://www.wired.com/story/video-game-stocks-vintage-games-mario-pokemon/ https://www.wired.com/story/video-game-stocks-vintage-games-...
joncrocks 4y ago
There was an amusing SNL sketch on this point not very long ago. Someone announcing his pending retirement at a dinner party, and how he was now going to live off his 'investments'. A display cabinet of beanie babies.
- at-fates-hands 4y ago
  Good article on the Beanie Baby bubble that occurred in the late 90's: https://www.wbur.org/hereandnow/2015/03/02/beanie-baby-bubble https://www.wbur.org/hereandnow/2015/03/02/beanie-baby-bubbl...
- dmix 4y ago
  I always find Christies auctions amusing, take these $150k Harry Potter 1st edition collection, the first paragraph highlights spelling errors, right after authors signature. Clearly valuing that very highly: > with the ‘wand’ error on p. 53 and the misspelling of ‘Philosopher’s’ on the lower board. https://www.christies.com/en/lot/lot-rowling-j-k-b-1965-6382805/ https://www.christies.com/en/lot/lot-rowling-j-k-b-1965-6382...
  - thaumasiotes 4y ago
    You might be interested in synthetic gemstones, often available at 99.9 - 99.99% discounts to "natural" stones due to their much higher quality.

Ekaros 4y ago

The most insane or sad is that there is some market for fractional ownership... Of collectibles in general, but also games... That alone should prove that it really isn't fully about owning it or nostalgia... At least in any sense I understand.

vanattab 4y ago
Just because it exists does mean it's common though. I doubt very many collectors participate in fractional ownership.