“How can you have money,” demanded Ford, “if none of you actually produces anything? It doesn’t grow on trees you know.” “If you would allow me to continue.. .” Ford nodded dejectedly. “Thank you. Since we decided a few weeks ago to adopt the leaf as legal tender, we have, of course, all become immensely rich.” Ford stared in disbelief at the crowd who were murmuring appreciatively at this and greedily fingering the wads of leaves with which their track suits were stuffed. “But we have also,” continued the management consultant, “run into a small inflation problem on account of the high level of leaf availability, which means that, I gather, the current going rate has something like three deciduous forests buying one ship’s peanut.” Murmurs of alarm came from the crowd. The management consultant waved them down. “So in order to obviate this problem,” he continued, “and effectively revalue the leaf, we are about to embark on a massive defoliation campaign, and. . .er, burn down all the forests. I think you’ll all agree that’s a sensible move under the circumstances.” The crowd seemed a little uncertain about this for a second or two until someone pointed out how much this would increase the value of the leaves in their pockets whereupon they let out whoops of delight and gave the management consultant a standing ovation. The accountants among them looked forward to a profitable autumn aloft and it got an appreciative round from the crowd.”
Douglas Adams, The Restaurant at the End of the Universe
Ask any frustrated retro-gamer, and they’ll tell you the past couple of years have seen a fake market bubble to jack up game prices. What appear to be credible allegations of fraud and collusion have surfaced between grading companies and auction houses, such as WATA Games and Heritage Auctions, which hopefully will mean fair prices will start to return to a hobby that was previously only frequented by hardcore nerds, rather than investors. But along with this fake gaming bubble came another new phenomenon: fake, high dollar “premium” Nintendo collections. One particular peeve of mine is the introduction of fake “test market” NES sets appearing on auction sites. A “test market” system is a reference to the first hundred thousand units sold as part of a limited release in 1985, before Nintendo knew whether the consoles would be viable. Nobody wanted to carry video games after Atari crashed the market in 1983, and so Nintendo USA, without telling their Japanese parent company, promised retail stores a refund for any unsold systems and a 90 day line of credit. They ended up selling nearly 62 million consoles. Those first 100,000 trial market systems are now considered by collectors to be the Holy Grail.
They’re also fraught with fraud, due to the prices they can fetch, especially if you find one graded. Many fraudulent test market systems include a few genuine components from the original box, but were either missing parts or pieced together. Because they came with the full caboodle – the Zapper, R.O.B., controllers, and two games – a lot of pieces can get lost or broken over time. The replacement parts included at auction often include retail parts from after Nintendo’s worldwide release, severely diminishing their value. Any test market system today could easily include post-release cartridges, light guns, robots, controllers, manuals, boxes, or even circuit boards; buyers and sellers generally believe there’s no way to tell the difference. All too often, someone will buy an empty test market box and throw something together with junk from eBay, selling a $200 system for thousands. In some extreme cases, even the original NES main board would be swapped out for a release board, leaving the only authentic parts the plastic shell! Such fraud can happen with individual games too. These shenanigans ruin the legitimacy and the value of the asset. Fakes have always existed, but with the inflated prices sellers think they can get these days, hobbyists and collectors stand to lose a lot more money than ever thought. Up until recently, test market systems have been considered “a real treat” when found in great condition, but thanks to a manufactured gaming bubble, they’re now fetching big money – and with that comes a lot of people looking to rip you off.