A 1985 Super Mario Bros. video game created by Nintendo and kept in its original packaging, sold for $ 2 millionbreaking the most expensive video game sales record set just a few weeks ago, collectibles company Rally announced.
Rob Petrozzo, one of the founders of the company, commented that it is a rarity of old video games, given its original state of preservation and that it was acquired by a person who asked to be kept anonymous, published The New York Times.
According to the publication the demand for collectibles increased considerably during the pandemicalong with many other forms of investment, as people in lockdown look for ways to spend their money.
The sale of various collectibles has skyrocketed in the last year, from sports cards, vintage cars, to internet memes and pieces of digital art, known as non-fungible tokens.
But video games are still a nascent market, Petrozzo said. Interest in acquiring old games has grown, but many of them have been opened and played, which has caused them to lose some of their value.
The Rally partner notes that investors are often intimidated into entering an industry they are unfamiliar with. However, recently, there have been a couple of media sales.
One was for a 1987 Legend of Zelda cartridge, which sold for $ 870,000 in early July, which was considered a record at the time, until a game of 1996’s Super Mario 64 sold for $ 1.56 million, A few days later.
Rally buys collectibles and invites people to invest in them like stocks. When someone makes an offer to buy a product, Rally notifies the proposal to investors, who are the ones who ultimately decide whether to accept or reject the economic proposal.
Rally bought the Super Mario Bros. game for $ 140,000 in April 2020. Investors rejected a proposal for $ 300,000 last year.
But when the anonymous buyer’s $ 2 million offer was put on the table, three-quarters of investors approved the sale of the item, Petrozzo said.
Ed Converse, a graduate student from Green Bay, Wisconsin, invested $ 100 in the game last year and made $ 950 after the sale“It’s crazy to think that I made an investment in it out of nostalgia for playing the video game as a kid and now it sells for $ 2 million.”
For Petrozzo these auctions can be a great start for those who are collectors and lovers of video games.
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Eddie is an Australian news reporter with over 9 years in the industry and has published on Forbes and tech crunch.