The Most Expensive Video Games Ever Auctioned: From Six Figures to Seven-Figure Records

The COVID-19 pandemic transformed the landscape of collectibles in unexpected ways. Beyond classic automobiles and sports memorabilia, a surprising new category emerged: vintage video games. The most sought-after titles experienced unprecedented price appreciation, with values multiplying 20-fold in a single year. What was once considered nostalgic memorabilia has evolved into a legitimate investment asset, with sealed cartridges commanding eye-watering sums that rival fine art and rare coins.

The Pandemic Sparked a Collecting Boom

When lockdowns forced people indoors, demand for entertainment and nostalgia-driven collectibles surged dramatically. This period marked the genesis of video gaming as a serious collecting category. Compared to established collectible markets, gaming represented fresh territory for investors seeking emerging opportunities. The convergence of Generation X nostalgia and portfolio diversification created perfect conditions for market growth.

Early gaming console releases from the mid-1980s onward became the focal point for collectors. Two beloved Italian video game characters—protagonists of Nintendo’s flagship franchises—dominated the marketplace. Their enduring cultural significance, combined with the rarity of unopened copies, positioned these titles as prime investment vehicles.

July 2020: The Six-Figure Barrier Falls

The watershed moment arrived in summer 2020 when Heritage Auctions facilitated the sale of a sealed Super Mario Bros. cartridge for $114,000. This transaction shattered previous records and signaled the emergence of a new investment class. According to Heritage, the cartridge’s value stemmed from its production variant—it featured the scarce cardboard hangtab packaging used during Nintendo’s transition from sticker seals to plastic shrink-wrap in the mid-1980s.

Collectors understood that production details mattered immensely. A copy that had remained sealed for decades in its original packaging commanded exponentially higher prices than played versions. This $114,000 sale represented a watershed: video games had entered six-figure territory. Few anticipated what would follow within the next twelve months.

The Summer 2021 Record-Breaking Sprint

The market accelerated dramatically in mid-2021. Within a compressed timeframe spanning just months, multiple price records tumbled.

The Legend of Zelda’s Historic Achievement ($870,000)

In early July 2021, an unopened copy of The Legend of Zelda achieved $870,000 at auction, establishing itself as one of gaming’s most valuable titles. Released in 1986, the game had launched an entire fantasy universe—including the hero Link, the antagonist Ganon, and the kingdom of Hyrule—into popular consciousness. Its early production status enhanced its collectibility substantially. The cartridge’s designation as part of a limited initial manufacturing run elevated its rarity quotient even further.

Super Mario 64 Breaches Seven Figures ($1.56 Million)

A mere 48 hours later, another Nintendo classic rewrote the record books. A first-edition sealed copy of Super Mario 64, released in 1996 for the Nintendo 64 console, achieved $1.56 million. This represented a watershed achievement: the first video game ever to command seven figures at auction. As one of that era’s bestselling titles and the inaugural game to popularize 3D gameplay, Super Mario 64 carried both historical significance and collector demand.

The Ultimate Price Point: Super Mario Bros. Reaches $2 Million

By August 2021, the trajectory reached its apex. The New York Times reported that an anonymous collector invested a staggering $2 million in a sealed original Super Mario Bros. cartridge from the 1985 Nintendo Entertainment System launch.

This represented an extraordinary acceleration from the same cartridge series’s $114,000 sale just one year prior—a 20-fold increase in value over twelve months. The transaction demonstrated how scarcity and condition could drive valuations to unprecedented levels. Notably, Rally, an investment platform specializing in collectible fractionalization, facilitated this sale by purchasing shares to multiple investors and coordinating the transaction. Rally had acquired the cartridge itself for just $140,000 roughly one year before the resale.

Another Sealed Super Mario Bros. Achieves $660,000

Before the $2 million record fell, another variant of the original Super Mario Bros. had established its own milestone. In April 2021, Heritage Auctions oversaw the sale of a different sealed copy for $660,000. The auction house documented this as “the finest known copy of the oldest sealed hangtab” and “the finest copy known to have been professionally graded for auction.”

This particular cartridge’s journey illustrated how unexpected discoveries enhance collectible value. The original purchaser had received it as a Christmas gift in 1986 but forgotten it in a desk drawer for 35 years. Rather than displaying the cartridge prominently, its accidental preservation in mint condition became its greatest asset. It represented one of Nintendo’s initial shrink-wrapped variants, preceding the standardized packaging used in subsequent production runs.

What Drives Video Game Valuations to Millions?

Several factors coalesce to create these astronomical price tags. Condition ranks paramount—sealed, unopened cartridges in original packaging command multiples of their played counterparts. Production variants matter significantly; early production runs with specific packaging features or manufacturing details carry premium valuations. The game’s cultural impact and enduring popularity establish baseline demand among collectors and investors.

Rarity represents perhaps the most critical variable. Video games, unlike many collectibles, were consumed products designed for play rather than preservation. Most cartridges were opened, played extensively, and eventually discarded. The survival of sealed examples from the mid-1980s remains statistically exceptional, rendering them increasingly scarce with each passing year.

The Investment Landscape Today

The video game collectibles market has matured considerably since those record-setting sales. What began as nostalgic collecting among Generation X enthusiasts has evolved into a structured investment category. Platforms like Rally democratize access by enabling multiple investors to own fractional shares of premium pieces.

The emergence of these million-dollar video games reflects broader collectibles market trends. Like fine art, rare automobiles, and vintage wines, gaming has transitioned from hobby to asset class. The combination of scarcity, cultural significance, and demonstrated price appreciation attracts institutional and individual investors alike.

The most expensive video games ever sold tell a story beyond mere transactions. They represent a cultural inflection point where entertainment products transformed into legacy assets. As long as collectors value these pieces of computing history and production-run variations remain scarce, sealed cartridges from gaming’s golden era will continue commanding investment premiums that would have seemed unimaginable just a few years earlier.