The market for retro video games is fueled by nostalgic sentiment, rarity, and perception; each of these elements drives unique aspects of the retro gaming market and contributes to the wild price swings between similar products. To effectively determine the current price of retro video games, you need to first understand how each of these factors create value within the retro gaming market and contribute to the differing prices of retro games.
Over the past 10 years, the price of retro video games has risen dramatically. A game that may have originally cost $30 in 1995 could now be worth upwards of $200. However, this represents the average price, while some retro video games can cost thousands of dollars, while others may only cost a few hundred. Furthermore, the price of a full set of retro video games that includes the original packaging and manuals can be several times more expensive than the same game sold loose. For example, a complete SNES game with original box and manual can cost hundreds of dollars. Conversely, a loose cartridge of the same game can be purchased for just a small fraction of that amount. Additionally, the price of the same game can differ significantly based on the platform. Understanding the reasons behind the dramatic price differences of retro video games requires understanding what drives value within the retro gaming community.
The three major drivers of retro video game prices are condition, rarity, and platform.
The most important factor determining the price of a retro video game is its condition. In general, a game in mint condition, including the original packaging and manuals, will cost exponentially more than the same game in loose form. For example, a complete copy of Donkey Kong Country for the N64 could cost around $120 in mint condition, while a loose copy of the same game could cost around $20. In fact, the condition of the game is the sole reason for the price difference. Collectors are willing to pay a premium for preservation, however, if you are not a collector who values the preservation of your games, you can purchase the exact same game experience for a fraction of the price.
Another factor that drives the price of a retro video game is its rarity. The rarity of a game affects the baseline value. Common games from popular consoles such as the NES, cost less than rare games from the same console. Super Mario Bros. for the NES is a very common game and loose copies typically cost between $10-$15. On the other hand, Earthbound for the SNES is a rare game and loose copies can cost as much as $200. Although the game may be the same, the scarcity of the game causes the price to be higher due to supply and demand. As mentioned earlier, the rarity of a game is also partially artificially created. For example, Nintendo manufactured a vast number of copies of Super Mario Bros., whereas only a relatively small number of copies of Earthbound were produced. Therefore, there is a significant difference in the level of genuine scarcity between the two games.
The final factor that significantly impacts the price of a retro video game is the platform it was released on. Although the game itself may be the same, the price of the game can vary greatly depending on the platform it was released on. For example, a game released on both the SNES and Genesis, may cost $100 to complete on the SNES and only $30 to complete on the Genesis, assuming the Genesis version is more common among collectors. Collectors tend to favor certain platforms over others, creating varying levels of demand and therefore impacting pricing.
The final factor that impacts the price of a retro video game is the value of the series. Games from highly valued franchises are more valuable than individual titles. A random role-playing game will cost less than a role-playing game from the Final Fantasy series. Dragon Quest games will generally cost more than obscure RPGs with similar quality, due to collector demand of the franchise. From a purely rational standpoint, the value of the game does not change based on the franchise, however, this is simply how collector markets operate.
The final factor that impacts the price of a retro video game is whether the game was released as a “black label” or “Greatest Hits.” Black label versions of games were released in the retail channel, while Greatest Hits versions were released at a later date as part of a promotion. The actual gameplay of the two versions of the game is identical, however, collectors generally prefer the original black label versions and are willing to pay a premium for them. Again, this is simply a matter of perception as the game plays the same way regardless of the release type. However, it does drive real price differences.
In conclusion, retro video game prices have been skyrocketing in recent years. Some retro video games that originally cost $30 in 1995 can now cost upwards of $200. Additionally, the price of the same game can vary greatly depending on the condition, rarity, and platform of the game. For example, a game that is in mint condition with original packaging and manuals can cost exponentially more than the same game in loose form. Similarly, the price of the same game can vary greatly depending on the platform it was released on. To understand these price variations, it is essential to understand the key factors that impact the price of retro video games.
Average Price of Retro Video Games Based on System
NES:
$5 Loose, Common ($10-$20 Loose, Common)
$20-$100 Complete, Uncommon ($100-$300 Complete, Rare)
$500+ Complete, Extremely Rare
SNES:
$5 Loose, Common ($20-$40 Loose, Common)
$20-$50 Complete, Uncommon ($50-$100 Complete, Rare)
$200-$500 Complete, Extremely Rare
N64:
Generally more expensive than PSX and Sega, but less expensive than Dreamcast.
$20-$100 Loose, Common ($40-$60 Loose, Common)
$50-$150 Complete, Uncommon ($100-$250 Complete, Rare)
$200-$500 Complete, Extremely Rare
PSX:
Generally cheapest of the four systems listed above.
$5 Loose, Common ($10-$20 Loose, Common)
$10-$20 Complete, Uncommon ($20-$50 Complete, Rare)
$50-$100 Complete, Extremely Rare
Dreamcast:
Generally more expensive than PSX and Sega, but less expensive than N64.
$20-$100 Loose, Common ($40-$60 Loose, Common)
$50-$150 Complete, Uncommon ($100-$250 Complete, Rare)
$200-$500 Complete, Extremely Rare
Retro Video Game Price Trends
Retro video game prices have grown rapidly over the past decade. While some of this growth is due to true scarcity of retro video games (as original cartridges age and fail), much of it is speculative. Many people buy retro video games with the expectation that prices will grow in the future and thus act as an investment vehicle. This artificial demand contributes to prices being greater than what the true scarcity of retro video games would dictate.
Historical Transparency of Prices
Prior to online marketplaces, prices of retro video games varied greatly based upon the physical location of the buyer and seller. With the advent of online marketplaces, prices have become more transparent. It is easier now to see what games are currently selling for, and thus many sellers adjust their prices to match the historical sales data. This has contributed to prices growing faster than they would have otherwise, as previously underpriced items have come into line with historically accurate prices.
Grading Services Impact
Professional grading services have impacted the retro video game market in a significant way. Not only do professional grading services provide documentation of the authenticity and condition of a retro video game, but they also provide a way for collectors to obtain a verifiable, collectible version of a retro video game. These graded versions of retro video games often carry a price premium of 2-3 times over an ungraded version in the same condition. While the grading service provides no additional value to the functionality of the game, it does add perceived value by providing proof of condition.
Celebrities Influence Price
When celebrities mention retro video games in their streaming content or social media posts, prices of those games tend to increase. When movies or TV shows reference classic video games, collector interest tends to grow. As gaming continues to move further into the mainstream, new collectors enter the marketplace, driving up prices for desired games.
What You Can Actually Buy for the Money
If you plan to buy loose cartridges to play retro video games, expect to spend anywhere from $10 to $100 per game, depending on the age of the system and how common the game is. If you’re patient and shop locally, you can often find great deals on retro video games. Local selling options and Facebook Marketplace often have better prices than eBay because local sellers are looking to sell and often do not attempt to maximize the collector price of their item.
If you’re buying a complete collection of retro video games as a collector, expect to spend $50-$300+ per game, depending on the system and the rarity of the game. Some rare retro video games can cost upwards of $1,000. When collecting, you’re essentially paying for the preservation and completion of the game. Whether or not that’s worth the money depends on whether you collect or play.
Collectors are willing to pay a premium for complete, preserved retro video games, while players are looking for the best possible deal for a game that still works. There is little to no overlap in the price of retro video games for collectors and players, making comparison of prices somewhat difficult.
Playing Retro Games Cheaply
There are ways to enjoy retro video games without spending a fortune. If you want to play retro video games without breaking the bank, consider using emulation software or purchasing the original game through the Nintendo Switch Online service. Both options allow you to experience the same game, but at a fraction of the cost of buying the original hardware. Emulation software and digital releases are the least expensive ways to access retro video games, while physical collecting is the most expensive.
The Market Has Diverged into Two Groups
The market for retro video games has divided into two groups: collectors and players. Collectors are willing to pay a premium for perfectly preserved retro video games, while players are interested in the least expensive option possible. The prices of retro video games are determined by the needs of the collector or player. While both are valid perspectives, they have become so divergent that comparing prices for retro video games is meaningless without identifying which group the prices pertain to.
Predicting Future Price Trends
As long as collector demand grows for systems that are still gaining popularity, it is reasonable to predict that the prices of these systems will continue to rise. As mentioned earlier, Nintendo-based systems are consistently the highest priced systems due to the high demand from collectors. As more people begin to view older systems as retro, the prices for these systems will likely continue to rise.
Conversely, systems that have peaked in popularity and are beginning to decline in demand may experience a decrease in price. Most notably, PlayStation, Dreamcast, and N64 experienced a rapid inflation in price, followed by stabilization. Eventually, even speculative bubbles burst, resulting in decreased prices for overvalued retro video games.
As newer systems become retro, the demand will shift to include the systems that have recently aged out of the current market. Examples of systems that are beginning to gain collector attention are the GameCube and original Xbox, which are becoming increasingly collectible. It is likely that the Wii will follow as collectors discover how rare these games are. Finally, as time passes and fewer collectors seek out older systems, the prices for these systems should stabilize, and potentially drop.
Hardware Failure Will Drive Prices Higher
As the original NES, SNES, and Genesis consoles continue to age and fail, the functional hardware will become increasingly scarce. As the number of functional units of each system dwindles, the price of the console will increase, thereby affecting the price of games played on that system. Collectors seeking to preserve their collections of retro consoles will face increasingly high prices for the original hardware necessary to run their games.
Practical Reality of Buying/Selling Retro Video Games
In summary, retro video game prices are high because of collector demand and scarcity. If you wish to enjoy retro video games without spending a fortune, the best option is to buy loose cartridges locally or emulate the games. If you are a collector of retro video games, be prepared to spend a premium to obtain a complete and well-preserved game. Collecting retro video games is an expensive hobby, but for those who enjoy playing retro video games, it is inexpensive.
Ultimately, understanding which perspective you represent (collector or player) will help guide your expectations of what you can reasonably spend on retro video games.
Timothy discovered retro gaming at forty and never looked back. A construction foreman by day and collector by night, he writes from a fresh, nostalgia-free angle—exploring classic games with adult curiosity, honest takes, and zero childhood bias.
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