Fake inflation of Neo game value: The art of Buy It Now "auctions"

[Ramad]

I'm sure that you all have seen it. VERY few Neo games on auction sites are actually auctions. They're set at a high buy it now price, and you take it or leave it. When they ARE sold in an auction form, they almost always sell for less than what the same game would sell in a Buy It Now listing.

Again, this isn't always the case. Folks will always be hunting down the Metal Slug games, and they're pretty sure to go for a lot of money. Same with Shooters like Blazing Star.

But games like Cyber Lip, Fatal Fury 3, and ASO 2 go for a lot less than what folks post them at.

Neo Forum forever.

 

[ChuChu Flamingo]

This isn't unique to Neo Geo, its pretty much how all things on Egay are. Gone are the days of actually auctioning shit off, just let stupid buy it now relist constantly with "trending" bullshit since you don't have to pay out the ass for fees like the good old days. After that just wait for the inevitable big ol dumb fish to bite since our pond is now the entire world fucking it up for the ones who have patience.

 

[Tanooki]

Last I read online maybe 3 years ago from the NintendardAge website people someone had written that ebay auctions have dropped to where it was like 80-85% BIN only, the rest are auction or auction w/BIN slapped on it. All things video games have had it happen to them, but thanks to stuff like those storage locker shows, picker programs and the rest the cancer has spread to anything more or less 'interesting' made from like the 1980s and before. It wasn't too many years back that getting a box with a game was part of the price, not in addition to (same with manuals+maps, dust jackets, and asinine enough even little plastic baggies.) Things have just degraded horribly and the arcade stuff such as Neo-Geo which is more like in setup a console anyway gets the game shitty treatment. Loose MVS/AES carts, throw in a manual/mini marquee+art pack, retail aes box/cardboard box with bubble bag and you're asking for an exponential price increase.

I used to be all about having manuals, I enjoy the dated materials as much as the useful information within them intended by the developers to help drive the story but also keep the secrets while spoiling nothing (unlike a faq) but I just don't bother anymore unless I can get it cheap enough to excuse it or it's included by a good person. For the 20 odd MVS games I have, only 20% of them I have the marquee for, and just 1 is a complete kit (neo turf masters) because the price was the same as getting the loose cart alone if not lower. My latest pick up was $78 shipped for 8Man with the Mini Marquee and I was thrilled as the game on the usual ebay troll BIN goes for $100 and a bit over.

Just to put it out there I do not list stuff as BIN on ebay only I find it distasteful but I also don't want to let some flipper garbage use me as a mark either. I research quality for quality the average price an item sells for, and I'll set it probably 10-15% lower but then slap the minimum 30% required BIN value on it as well. When people don't just ignorantly ignore my stuff (which I see using sold auctions) like idiots to pay higher my stuff moves pretty decently.

 

[NeoBlaze]

Also worth noting is that Neo Geo games, and mostly aes titles, usually get more views and bids when they are auctioned than when they are put with a BIN price w/best offers. Some of the higher end titles sit for days and weeks before getting sold at BIN prices. Atleast thats an indication that buyers are aware that those titles are getting marked up ridiculously.

 

[Tanooki]

Agreed. I've only been buying the stuff since May but I've noticed that a LOT when it comes to MVS. I don't sort for AES using the -aes term when I look to remove results but it wouldn't surprise me if it was even more so since they get more expensive. It's harder to con a knowledgeable market like those who have NG stuff unlike the hipster patsies being pilfered for so called 'cheap' Nintendo games where you have a sucker born every minute.

 

[Voultar]

This is essentially how the secondary markets becomes inflated. Unfortunately, E-Bay has become the reference point for secondary market prices. It ruins it for everyone.

 

[Xian Xi]

It creates a double standard. People when selling their games love the high prices but when they are on the buyers end they think the prices are unrealistic. This is why I always say that ebay is a horrible basis for a price guide even if you average it out.

 

[sylvie]

whats the point in bidding on something that also has a buy it now? i never understood.

 

[Tacitus]

whats the point in bidding on something that also has a buy it now? i never understood.

BIN disappears when you bid.

 

[ChopstickSamurai]

I remember buying stacks of NES games for a buck a pop years ago. I bought them mostly because I loved the NES, but I also couldn't afford a PSX at the time. Getting into NES collecting now seems like an impossibility. Everdrives FTW. Whoever thought NES collecting would become a rich man's hobby?

Neo games on the other hand has always been expensive. Plus there is no where as many in circulation as NES games. If the demand ever spikes the supply is going to dry up.

 

[Tanooki]

It creates a double standard. People when selling their games love the high prices but when they are on the buyers end they think the prices are unrealistic. This is why I always say that ebay is a horrible basis for a price guide even if you average it out.

Agreed but it's the problem of what else can you do? If you price it where the realistic pre-hype machine price was and where it should be maybe with some inflation it will get bought within seconds, then just put right back up on ebay. You end up being someones stupid mark to take advantage of you, so they can then take advantage of someone else so no deal ever gets passed down. So yes it maybe a double standard, but it's a forced one. I think that's clearly why people on sites like this and others with community selling boards try and encourage internal deals to be more 'community based' and friendly with the proviso of if you're found to be buying to throw shit on ebay you'll be banned from the market if not the site which seems reasonable.

Sadly the only way I found to help anyone would be to charge around 15-20% under the normal average paid value on ebay. That way mostly it ends up in the hands of a new owner for still a little bit off, but also discourages flippers because they can't make enough on it after ebay fees (both ways buying and selling) to bother with the hassle. Sure I'd rather sell copies of SMB3 all day for $10, but they'd just go back up there for $25 so why help predators you know?

I miss just 5 years ago when you could take a $20 bill to a flea market out west and get upwards of 9-10 games (nes, snes or gameboy/color) out of it. Now you're lucky to get commons for that price, even the garbage has gone up in many cases.

I just had a friend IM'n me about some Master System stuff, seems the Nintendo effect this year is finally hitting it too because of games that have overlap like Ghouls n Ghosts has gone up to like $70-100 for a CIB package when it was like $35-40 a year plus ago. It's rapidly shooting up and spreading out from there which is sad. We who have been in it for years/decades for the cheap fun exploration are pretty much dead when you're now getting into 2nd and 3rd tier stuff getting annoying. Once the Game Gear and Gameboy level stuff gets(if it does being handheld) pilfered it's over.

 

[LegoSlug]

This old news. I dont count buy it nows with best offer options, because they sell for less than actually advertised almost all the time.

Only auction listings should be used to determine a going price. Buy it nows are inline with a 'Liquid Snake Price Guide' typically.

 

[Lukejaywalker23]

I love how people quote you a price based on the other BIN items listed on eBay instead of looking at the prices that they have sold for in the past. There is a reason most the shit is still listed.

 

[LegoSlug]

I miss just 5 years ago when you could take a $20 bill to a flea market out west and get upwards of 9-10 games (nes, snes or gameboy/color) out of it. Now you're lucky to get commons for that price, even the garbage has gone up in many cases.

Its been at least 10 years for me. The good prices ended as soon as people got smart phones. Even grandmas can quickly figure out a price by quickly going on ebay (not even looking at completed listings) and see what the game is listed for. Then, if the price is ridiculously high enough, I usually explain that ebay has a money back guarantee plus the game is delivered to my door stop, whereas I just took the time to drive out to a flea market or garage sale and will likely never see the person again and have no guarantee it will work. Then they usually say you can come back if it doesn't work. Then I am certain they missed the point entirely and walk away.

 

[Tanooki]

I love how people quote you a price based on the other BIN items listed on eBay instead of looking at the prices that they have sold for in the past. There is a reason most the shit is still listed.

Could do one worse, anyone using the video game price charting site setup by JJ, you know of JJGames.com who sells 1000s of used old 80s/90s video games (conflict much?) His algorithm he admits is flawed and unfixable because it can only tell you CIB and other than that it falls to loose. It could be everything but the box, it's still 'loose' cart only nor does it factor in on any of it (even new/sealed) the condition. It averages out higher than what people tend to really pay on stuff so those using that place end up having stuff sit even longer, at least that's my experience over a few states at local retail.

 

[oliverclaude]

BIN's are only appetizers, they usually demand an offer for an off-site deal. That is, if the seller's serious. Lately I often get the feeling that it's more about attention whoring, social media exhibitionism or simple advertising.

But OP's statement is worth underlining: some games will always sell high, some never will. This canon gets bigger and bigger though. If you can't get the "holy grail", create a new one which you can.

 

[Tanooki]

I agree and you know I have been thinking the last few years and I bet it would be a fun thing to debate let alone see happen -- ebay stops the 50 free a month stuff across the board (private people and ebay stores.) If someone has to put up the old fee just to 'advertise' and shove a joke of a high price waiting months for a sucker would they still do it? If they still would do it, how long? I think it would make a pretty big impact if you try and get say $50 out of a $35 (open auction) game if you have to put up 30 cents (up to 9.99 I think it was, then up from there) to post repeatedly as it just chips away at the profit. Things really started to go bad when it became free to throw whatever sticks up there to just ride it out as it pretty much killed off all open auctions where people would start stuff at a dollar.

If you had to throw away like $10 each time to post a $1000 game to have it sit for months when $800 would be around it on open auction I think it would stop.

 

[city41]

BIN's should be priced higher than auctions, that's by design. With an auction, you run the risk of not getting the item. With a BIN, you are guaranteed the item, and that guarantee comes with a price premium.

 

[DigitlSamurai]

I haven't really had a very hard time finding games for a good price. I don't have any incredibly rare games either though.

 

[Caliburn89]

Every auction I've posted has gone for maybe like 5-10% less than BIN.

The -only- one that I've posted that didn't meet BIN was a Final Fantasy Mystic Quest that went for 2.50, but that's about how much that game is really worth.

 

[Xian Xi]

whats the point in bidding on something that also has a buy it now? i never understood.

I fucking hated when vwlunatic would bid on auctions that had great BIN prices. He would do that to just basically lowball and see if he could get it cheaper.

 

[city41]

Heh. I recently sold something on ebay where the BIN was set to $200. It ended up going to auction and selling for over $700.

 

[Fakk2]

I remember buying stacks of NES games for a buck a pop years ago. I bought them mostly because I loved the NES, but I also couldn't afford a PSX at the time. Getting into NES collecting now seems like an impossibility. Everdrives FTW. Whoever thought NES collecting would become a rich man's hobby?

Neo games on the other hand has always been expensive. Plus there is no where as many in circulation as NES games. If the demand ever spikes the supply is going to dry up.

My thoughts exactly!

 

[[OCEAN]]

Totally agree... people tend to set the value of a game based on what people are asking for it on eBay and not for what it's really selling for, which is usually much less in auction form. The problem is when someone does "buy it now" and sets a precedent: if someone sold this game for that price, why should I sell it for less?

I wonder if sometime along the line "buy it now collectors" will start realizing that the value of their game is actually much lower than what they paid for, or if demand will continue growing and the super inflated price will, in the end, become the standards.

It sucks that game collecting has come to this point, but I think it does not only apply to retro gaming. Just look at the recent amiibo or Nes mini craziness: prices are inflating just because there are people willing to pay more for a product which just went into production, because it's "sold out"...

 

[oliverclaude]

...if someone sold this game for that price, why should I sell it for less?

Sometimes it's because of time. This factor is of course less common with BINs.