Karl Jobst is a popular YouTuber known for providing video essays on speedrunning. Recently the YouTuber did an extensive investigation report with multiple video game collectors to expose a bubble that is growing within the retro video game market. With select individuals attempting to artificially increase the price of retro video games using insidious tactics.
Jobst goes into detail about a bubble that is forming within the retro video game market. Retro titles in pristine condition do fetch a high price but recently have skyrocketed such as a copy of Super Mario 64 selling for over 1.5 million USD. According to Jobst certain individuals are responsible for this and are seeking to do the same with more games. Purchasing retro titles, artificially increasing the price using a grading company, and selling them off using a connected auction company.
Jobst explains how the grading company called WATA Games and the co-founder of Heritage Auctions, which sells high valued collectables along with video games, Jim Halperin are increasing the prices of these games by manipulating the market through the media. With WATA Games formation and link to Jim Halperin who serves as an advisor.
Jobst goes into great detail about his findings and provides extensive evidence to complement his findings. This along with multiple video game collectors such Pat the NES Punk, Reserved Investments, and Comic Book Investments.
Jobst's report is well-crafted and sound, providing a large amount of evidence connecting the dots. This coupled with the recent surge in price for retro video games and the argument has a lot of weight behind it. With retro video game prices surging eventually it will fall and when that happens it won't be pretty.
UPDATE 8/26/2021 9:32 AM EST:
Both Karl Jobst and WATA Games have issued statements on the matter. WATA Games contacted me with the following statement:
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.
I did attempt to contact Jobst afterward. Jobst was contacted by several people about the matter and issued his own statements on Twitter:
We have conducted an investigation (and in record time!) and find ourselves to be innocent. https://t.co/BjjflXjTp4
— Karl Jobst (@karljobstgaming) August 24, 2021
Yeeeepppp. I 100% know who was on the other end of this conversation (not me, and there’s no reason to reveal their identity), but Karl absolutely tried to reach out to Deniz while he was making this. https://t.co/mhckgrRgm0
— Tim Walker (@DaddyMulk) August 25, 2021
For the record, I have nothing against video game grading. I am not looking to 'end' any of these companies. In fact I'd love to own a graded game eventually. My goal is to try and stop market manipulation and to bring in transparency and ethics.
— Karl Jobst (@karljobstgaming) August 25, 2021
Wata is claiming that my claims are baseless, which is interesting because I provided mountains of articles, videos, screenshots, SEC filings and testimony (and I have more). I am always happy to set the record straight if I get anything wrong, just let me know. pic.twitter.com/3o2iFW8AZi
— Karl Jobst (@karljobstgaming) August 25, 2021
I have been contacted by quite a few people with more information. This will all need to be investigated by the higher authorities, and I will do my best to ensure that happens. If anyone feels they have useful information please reach out.
— Karl Jobst (@karljobstgaming) August 26, 2021
It's clear this is not over and we'll keep everyone updated on the matter as it evolves.
Adam Siddiqui,
Managing Editor, NoobFeed
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