You are probably aware that retro gaming has become a massive trend recently. Part of that trend is gamers playing their favorite old video games using virtual consoles, mini classic consoles, and other systems and methods. But another motivation is fueling the growth of the retro gaming market—and that is collecting retro video games and hardware for profit.
Why People are Collecting Retro Video Games and Hardware
The Athletic reports, “Retro video game collectors have been around a long time, and while rare games have quietly sold at Ivy League tuition prices over the past couple of years, it was this summer when factory-sealed and graded vintage video games got wider notice as a craze for deep-pocketed investors. It’s unclear how many buyers are actual collectors versus speculators.”
The site goes on to mention a copy of the 1985 Super Mario Bros. original Nintendo game that was sealed and unopened. On August 3rd, that game sold for $2 million. This is actually not the first copy of this game to make headlines after selling for big bucks. We reported six months ago on another copy that received an offer for $660,000 through Heritage Auctions.
How Can You Capitalize on This Hot New Trend?
There are a number of ways that one could potentially profit from the soaring market in retro video games. One idea is to go through your own video game collection to see if you have any copies of old games that might be worth a lot of money. For all you know, you are sitting on a fortune and do not even realize it.
Another idea is to go bargain hunting, buying and collecting games to sell now or in the future. As an example, Fox News reported on a couple that found a wealth of video games at an estate sale. Together, the old games they were able to get their hands on were worth $20,000.
While you can try to hunt down super valuable games worth thousands of dollars, a more consistent approach to making bank with retro games is to buy games worth $20-30 for a few bucks at used game stores or thrift stores. Obviously that is a strategy that involves a lot of ongoing legwork, but it can bring in some substantial cash.
Speaking of which, one other idea for profiting off of this trend might be to facilitate the buying, selling, and trading of video games yourself. You could open a used video game store. Or, if you already have one, this might be the time to revisit your marketing campaign and spruce up your shop. Using neon logos is a great way to bring more attention to your store.
One more thing some gamers are doing is collecting physical copies of new games and keeping them unopened. Their hope is that they will be worth a lot decades from now. But that is a highly speculative thing to do. And it does create unnecessary market scarcity for those who want to buy and play those games now. So, we would suggest you instead focus on games that are already part of the retro market, not on those that will be in the distant future.
Where to Sell Your Old Games and Consoles
Looking for more advice on where to sell video games and gaming consoles outside of auction? Take a look at our detailed guide on this topic. We don’t know how long the trend inflating the prices of retro video games will last. So, this is the time to take advantage of it. Who knows? Maybe you will be lucky enough to find a game or platform that you can sell for thousands of dollars.