Retro Game Collecting Market Experiences Correction After Pandemic Boom

Retro Game Collecting Market Experiences Correction After Pandemic Boom In recent years, the retro video game collecting scene has witnessed unprecedented highs—and a subsequent cooldown.

Prompted in no small part by the global COVID-19 pandemic, video game collectors and enthusiasts saw a surge in demand for classic hardware and software, marked by skyrocketing prices and a flood of new entrants into the space.

Yet, as the world emerges from lockdown, industry experts report that the high-end market for graded video games is now experiencing a significant pullback, particularly among the most sought-after and professionally graded titles. According to Shawn Surmick, a collectibles consultant and owner of the Reserved Investments YouTube channel, the pandemic fundamentally altered the retro gaming market.

Speaking to ABC News Australia, Surmick described how “the market saw a pronounced boom as collectors and investors, propelled by nostalgia and the availability of online marketplaces like eBay, began driving up prices for classic titles and hardware.” The launch of new hardware cycles by major companies like Nintendo and the subsequent obsolescence of previous generations spurred renewed interest among both longtime fans and newer collectors.

For instance, a milestone was reached in 2019 when a WATA-graded copy of Super Mario Bros for the Nintendo Entertainment System (NES) fetched an unprecedented $100,000 at auction. Surmick explained that this surge was intensified when pandemic restrictions kept people indoors.

"Collecting became an accessible outlet," he said, emphasizing that increased disposable income and renewed interest in vintage gaming fed the upward trend.

However, Surmick also noted that "as economic conditions normalized, prices for top-tier graded items experienced a sharp correction." This is most apparent with high-profile, graded games and hardware, which no longer command the same speculative premiums witnessed at the height of the pandemic. Despite this pullback, Surmick clarified that the retro gaming market remains robust at its core.

While prices for elite, graded collectibles have cooled, there is continued enthusiasm for loose carts and ungraded items.

"The market simply became overheated," he observed.

"Now high-end graded collectables are seeing a recalibration, but the community's passion for retro games endures." Platforms like eBay and grading services such as WATA continue to play a major role in shaping the value of retro games.

Meanwhile, major developers like Nintendo retain an enduring legacy, ensuring that collector interest in classic franchises such as Super Mario Bros, The Legend of Zelda, and Metroid remains high.

As the dust settles from the post-COVID surge, industry watchers expect the retro gaming economy to stabilize, with prices reflecting a more sustainable level of demand. This ongoing evolution of the collector’s market is a testament to the staying power of vintage video games.

As Surmick and many in the industry suggest, while the speculative frenzy may have waned, a dedicated base of fans and collectors ensures that retro game collecting will remain an integral part of video game culture for years to come.