Wata Games have been sued for price gouging on retro rated games

Wata Games is facing a class-action lawsuit from several customers seeking damages for illegal business practices by the company in its sales of older games.

for every Kotaku, the class action suit, filed in Central District Court in California, on behalf of Jacob Knight, Jack Krebs, Jason Dohsey, and other potentially “similar” individuals. According to the lawsuit, Wata Games and its owner, Collectors Universe, allegedly misled their customers about its products, pumped out the old bubble collecting game and carried out a “pattern of extortion activity”. Presumably, these actions led to a rush to buy classic games and inflated prices.

Essentially, customers will submit their toys for evaluation by Wata to determine how they are categorized as collectible, judging rarity and quality. Wata commissioned collectors to speed up the process along with a 2% commission on games worth over $2,500. Now, many game collectors claim that Wata rips them off by inflating the market with its valuations, making their commission bigger, and charging premiums for services but failing to return the games to their owners in time for “urgent” processing.

Although wait times for collectible rating homes have increased significantly during the pandemic, reported delays for Wata appear to be unusually long. While the longest waiting time is estimated at 150 days, one customer reported his version of Fire Emblem: Radiation Pathninth in fire emblem The series, for GameCube, took 18 months to receive. Wata Games has not yet commented on the allegations.

YouTube Karl Jobst made a small documentary on the subject, accusing Wata Games, Heritage Auctions and other collectors of conspiring to increase the value of rare vintage games using methods such as secret bidders, self-grading and record-breaking selling prices. One example is the sale Super Mario Bros. In 2019. In 2017, the highest price for a retro game was $30 thousand for a high-quality sealed copy. In 2019, Wata Games ranked a version of Super Mario Bros. which sold through auction for $100,150. Among the three buyers was the founder of Heritage Auctions, Jim Halperin. Later that year, Wata founder and class president Deniz Khan appeared star pawn He claimed that an exact copy of the game is now worth $300,000. In 2021, Wata branded a copy of the game that claimed to be an extremely rare sealed and sealed copy, that sold for $2 million. sealed cartridge version of Super Mario Bros. It was sold to the Nintendo Entertainment System in April 2021 for $660,000.

After Jobst’s documentary, Cohen, Halperin and others referenced in the documentary denied any wrongdoing. A few months after the event, Wata released demographic reports for various games, a popular request by game collectors. Population reports estimate the number of sealed toys with specific attributes still out there based on past research and sales. These reports aid the collectors in their profession, and provide tremendous transparency into the factors that determine grades. Since the reports were released, there have been no record sales of vintage games at auction.

source: Kotaku

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