+nanochess Posted June 6, 2014 Share Posted June 6, 2014 Michael Thomasson (gooddealgames.com) has put all of his collection (11,000 games non-duplicated) for bidding in Gamegavel.com http://www.gamegavel.com/item.cgi?show_item=958029 The auction started from $1 dollar! I'm wondering how many trucks will be needed to translate the collection! 1 Quote Link to comment Share on other sites More sharing options...
Chris++ Posted June 6, 2014 Share Posted June 6, 2014 I wonder why he decided to sell. "...family needs that need to be addressed..." I hope this doesn't mean that he met a woman who's told him that he needs to "grow up" and get rid of the games, or make more room (in his own house) for her stuff. Nah...Mike would be intelligent enough to tell a dope like that to get lost. Since it's on Game Gavel, wouldn't it be cool if Mike, Mike and Scott combined their resources and bought the collection? Quote Link to comment Share on other sites More sharing options...
Troy_Whelan Posted June 6, 2014 Share Posted June 6, 2014 Sadly it looks like the auction is being derailed as 2 guys with no history have run it up over $50,000. I doubt those 2 bidders will buy his collection for that regardless of what it is worth. 1 Quote Link to comment Share on other sites More sharing options...
Shawn Posted June 6, 2014 Share Posted June 6, 2014 Sadly it looks like the auction is being derailed as 2 guys with no history have run it up over $50,000. I doubt those 2 bidders will buy his collection for that regardless of what it is worth. I see what you mean. Here is hoping it's pre-aproved bidders so the auction does get to end with a sale. Quote Link to comment Share on other sites More sharing options...
Cobra Commander Posted June 6, 2014 Share Posted June 6, 2014 Those are some big numbers! Quote Link to comment Share on other sites More sharing options...
Ransom Posted June 6, 2014 Share Posted June 6, 2014 I can't imagine owning that many games. I sure would like to go through it and take what I want, but then I'd feel awful about breaking up the collection. Quote Link to comment Share on other sites More sharing options...
+DZ-Jay Posted June 8, 2014 Share Posted June 8, 2014 Sadly it looks like the auction is being derailed as 2 guys with no history have run it up over $50,000. I doubt those 2 bidders will buy his collection for that regardless of what it is worth. I think you're right! It went up to over two hundred thousand dollars, and now it is back down to $90k. Quote Link to comment Share on other sites More sharing options...
Troy_Whelan Posted June 8, 2014 Share Posted June 8, 2014 I think you're right! It went up to over two hundred thousand dollars, and now it is back down to $90k. Notice the reserve is not met, it seems someone ran it up to see where the reserve price point was then backed out. That being said the reserve must be close to $900,000! I wish him the best of luck, but it seems this would be easier sold in chunks, perhaps broken apart by console. Quote Link to comment Share on other sites More sharing options...
Cobra Commander Posted June 8, 2014 Share Posted June 8, 2014 He'd be better off trying a warehouse fire insurance scam Goodfellas style. Sneaking the uber-rare good stuff out the back of course. Quote Link to comment Share on other sites More sharing options...
Atari_Bill Posted June 8, 2014 Share Posted June 8, 2014 Wow, I saw this story in the press and assumed his collection was all CIB at minimum. Sounds like only a fraction of the overall collection is. I find it hard to believe that it's worth what 'experts' are appraising it at based upon that. Quote Link to comment Share on other sites More sharing options...
ianoid Posted June 9, 2014 Share Posted June 9, 2014 The tough thing about large lot sales is that there are just so few people who are in the market to spend over a hundred thou in one pop and how many of them want to get a collection that haven't already? If only there was an easy out to getting rid of a large collection without taking time or losing money. I'll be surprised if it sells if there is a reserve. It takes serious effort to get your cash out of this hobby, even if you pay $5 per item. That 1% of stuff worth a ton won't make up for the bulk rate prices of the rest. Quote Link to comment Share on other sites More sharing options...
CPUWIZ Posted June 9, 2014 Share Posted June 9, 2014 I am saddened by this, if I had to take a guess, I'd say "Hitched". Same thing happened to someone else here, just slower. If it is just a gamble, to see what would happen, hats off. You never frigging know, maybe some hedge fund freak decides that he wants to hold the record. Quote Link to comment Share on other sites More sharing options...
Bill Loguidice Posted June 9, 2014 Share Posted June 9, 2014 I am saddened by this, if I had to take a guess, I'd say "Hitched". Same thing happened to someone else here, just slower. If it is just a gamble, to see what would happen, hats off. You never frigging know, maybe some hedge fund freak decides that he wants to hold the record. He's been married (with a kid) for quite some time. It has nothing to do with that. He'll likely buy it all back over time. He's done it before. I also have an obnoxious collection (440+ videogame and computer systems, many thousands of boxes software titles, countless materials, etc.) that I would certainly sell if I could get a fraction of its value (say, $50,000+), but I've never known any of these things to legitimately work out. Like I mentioned, though, he's sold his collection once before before making a successful run at the Guinness record, so it can be done, and certainly the unprecedented promotion this has been receiving is going to help him, it's just a question of whether there's a wealthy hardcore collector (or institution) out there that can fork over many hundreds of thousands of dollars. I don't think such a mythical beast exists who has not already amassed a massive collection of their own, though. Nevertheless, I'll be keeping any eye on this for future reference. Quote Link to comment Share on other sites More sharing options...
Shawn Posted June 10, 2014 Share Posted June 10, 2014 A reseller or a couple resellers willing to go in and invest together would be the most likely bet to get even a wholesale price in a single lot. That or a rich SOB like CPU suggested. Quote Link to comment Share on other sites More sharing options...
+cvga Posted June 10, 2014 Share Posted June 10, 2014 What's the tax status of a sale like that? Will he have to pay based on the sale amount? Did he keep track of his cost basis? If he sells for a loss, can he net that against his income? Quote Link to comment Share on other sites More sharing options...
Shawn Posted June 10, 2014 Share Posted June 10, 2014 What's the tax status of a sale like that? Will he have to pay based on the sale amount? Did he keep track of his cost basis? If he sells for a loss, can he net that against his income? If cooked the right way I think he could work it like that if that was something he's into. Quote Link to comment Share on other sites More sharing options...
bear57401 Posted June 11, 2014 Share Posted June 11, 2014 https://www.yahoo.com/tech/worlds-largest-video-game-collection-is-up-for-sale-88373680764.html Quote Link to comment Share on other sites More sharing options...
chrisbid Posted June 13, 2014 Share Posted June 13, 2014 I talked to Michael a couple of weeks ago at CORGScon, he has to sell the collection for medical bills for a family member. I'm glad this thread is positive. The threads on Digital Press, Nintendoage, and Reddit about this auction are cesspools :/ Quote Link to comment Share on other sites More sharing options...
oldjd Posted June 13, 2014 Share Posted June 13, 2014 3/4 million?Wow! Quote Link to comment Share on other sites More sharing options...
Shawn Posted June 13, 2014 Share Posted June 13, 2014 3/4 million?Wow! For this amount of money there should be some type of proof you can pay before the bid is even allowed. I really hope Micheal doesn't get fucked over by some non-paying douche. That's a ton of cash he needs for a very important reason and the internet is full of jerks that think it's funny to go all bid crazy with no intentions to pay. Again, I seriously hope the folks at gamegavel are taking great care to insure this is a successfully completed transaction. 1 Quote Link to comment Share on other sites More sharing options...
Atari_Bill Posted June 14, 2014 Share Posted June 14, 2014 Ok, so I'm not that familiar with Gamegavel's rating system, but it looks like the top bidders have no feedback whatsoever. Is there any verification of these bidders by the owners of the site? Going back through the bidding history the last person with ANY feedback on this had bid 90k+ Seems to me that Gamegavel will get a bit of a black eye here if this ends up going to bidders that never intended to pay. 1 Quote Link to comment Share on other sites More sharing options...
Shawn Posted June 14, 2014 Share Posted June 14, 2014 Ok, so I'm not that familiar with Gamegavel's rating system, but it looks like the top bidders have no feedback whatsoever. Is there any verification of these bidders by the owners of the site? Going back through the bidding history the last person with ANY feedback on this had bid 90k+ Seems to me that Gamegavel will get a bit of a black eye here if this ends up going to bidders that never intended to pay. I think it would satisfy a lot of curiosity if Mike from GG chimed in on this thread. I'm sure he's seen it. Quote Link to comment Share on other sites More sharing options...
Parrothead Posted June 16, 2014 Share Posted June 16, 2014 I think it would satisfy a lot of curiosity if Mike from GG chimed in on this thread. I'm sure he's seen it. Hey Guys! Yes, we have verified the two highest bidders are in fact, real people. But that really is all I can do, as I can't determine their actual financial means. They did register with correct info and a valid phone #. If you have been watching since the auction started, you would have noticed that some bids were cancelled straight away due to the fact the bidder registered with obviously bogus information. At this point we still don't know if the high bidder will follow through or not. We do have a few other bidders who we know have the means to make a fair offer on this should the sale fall through. I hope for Michael's sake we can use the awareness of this auction to ultimately sell his collection. 1 Quote Link to comment Share on other sites More sharing options...
Uzumaki Posted June 16, 2014 Share Posted June 16, 2014 If it is paid up and goes through, would that mean the new owner is also the new record holder? Especially if the new owner has some unique games not in the auction. Quote Link to comment Share on other sites More sharing options...
Shawn Posted June 16, 2014 Share Posted June 16, 2014 If it is paid up and goes through, would that mean the new owner is also the new record holder? Especially if the new owner has some unique games not in the auction. In the eyes of the folks at Guiness, yes that new owner would be the new record holder. Quote Link to comment Share on other sites More sharing options...
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