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Some believe Wata’s value comes in the fact they are one of the few graders who have become experts in the authenticity of seals - whether wrapping of a game is natively authentic or was post wrapped. As the category grew, Heritage moved video game sales from the back pages of its comic book auctions to its own separate sales.
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In April of this year, a Super Mario Bros. sealed and graded a 9.4 on a 10 point scale sold at Heritage for $114,000. In July of last year, a Super Mario Bros. Soon, graded games - notably the Super Mario Bros. Wata helped the auction house understand values, which in turn informed the marketplace. The company has never released financials nor population reports, but from eBay auctions alone its apparent that the company has graded thousands and thousands of games.Īdoption by collectors was helped along by Dallas-based Heritage Auctions auctioning off video games beginning in 2019. The business got more sophisticated in the fall of 2019, when Ryan Sabga, whose company Canyon Drive built the cases, signed on as CEO. Not only does Wata bet on the nostalgia of kids who played particularly Atari and Nintendo games, who are now 35 to 50, but the adoption of video game collecting as an asset class took flight thanks to its impressive thick cases that securely allow a collector to display the game standing up on a desk. In 2018, Wata was grading a handful of games. Wata was founded in 2017 by 25-year-old Deniz Kahn, who started collecting old video games and noticed the need for a company to grade the cartridges, boxes and seals in the event they were never open.