Designer Shigeru Miyamoto first dreamt up the character Mario, a mustachioed Italian plumber loosely based on Nintendo’s real-life landlord, in 1981. Clad in bright red overalls and equipped with cheery catchphrases—not to mention startling agility—Mario has since become one of the most iconic video game characters of all time.
As demonstrated last weekend, Nintendo’s beloved mascot also commands high prices. Per a statement, an unopened copy of the 1996 game “Super Mario 64” smashed records on Sunday, becoming the most expensive video game ever sold at auction. An anonymous buyer scored the game for $1.56 million (including a 20 percent buyer’s premium) after 16 bids, reports the New York Times’ Neil Vigdor.
According to Dallas-based Heritage Auctions, the sale marks the first time in history that a video game has sold for more than $1 million. Previously, the record was held by a 1987 copy of “The Legend of Zelda,” which sold for $870,000 earlier this month.
Nintendo released “Super Mario 64” as one of the first games for its Nintendo 64 console in 1996. At the time, the game sold for about $60, per the Times. Nintendo has since sold about 12 million copies of “Super Mario 64,” writes Sanj Atwal for Guinness World Records.
“Super Mario 64” marked a watershed moment for gaming, as Mario’s on-screen world received an immersive upgrade. Previous entries in the franchise featured two-dimensional, side-scrolling displays; “Super Mario 64” was the first Mario game to feature three-dimensional environments, writes Jonathan Edwards for the Washington Post. (In the game, players guide Mario through a quest to rescue the ruler of Mushroom Kingdom, Princess Peach, from his archenemy, Bowser, the king of a tribe of turtles.)
The newly auctioned cartridge stands out for its near-impeccable condition. Protected by a plastic case and still in its factory-sealed, shrink-wrapped packaging, the item received a 9.8, or A++, rating on the Wata Scale—in other words, reports Ethan Gach for Kotaku, the work is “practically undamaged.”
To earn a rating this high, the box and the seal “have to be in perfect condition,” Heritage video games specialist Valarie McLeckie tells Nina Kravinsky of NPR.
“It has to look as pristine as the day it came off the assembly line,” she adds. “And this [cartridge] essentially has no notable imperfections.”
Still, writes Aaron Mak for Slate, the sale baffled some experts. Video game historian Chris Kohler, for instance, noted his surprise on Twitter: “I figured the first million dollar game was imminent, but I didn’t think it was gonna be today ... or this.”
As Kohler tells the Post, he assumed that a more famous game—perhaps the original “Super Mario Bros.” game released in 1985—would be the first to break auction records. (That game marked the first time Mario appeared onscreen with his taller, green-clad brother, Luigi, per the Times.)
Millennials’ nostalgia for the video games of their youth might be driving the sharp upturn in prices, Kohler says. The “Mario” sale arrived on the heels of another record-breaking bid: Last Friday, Heritage sold a 9.0-rated 1987 cartridge of “The Legend of Zelda” for $870,000—then the most money ever paid for a video game. The record lasted just two days.
“To break the world record for the most ever paid for a video game at auction, not once, but twice in our first video games auction exceeded my wildest expectations,” says McLeckie in the statement.
Speaking with the Times, the specialist adds, “I was blindsided, to be quite honest with you. … Never in my wildest dreams did I expect the price that was realized would become a reality.”
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The most expensive video games list appointed a newly crowned king recently. A fact that proves two things:
- The value of retro video games is increasing.
- And the decision to sell off most of my retro game collection (2011-2015) was idiotic:
(And I’m still a little bitter about it).
At the time, my crowning glory was a boxed (and later-graded) Super Mario Bros., which included a sticker seal:
I paid $30ish for it and with it came a broke NES console and a few loose cartridges (this was back in 2001).
By today’s standards, that’s a barn find.
The game sold for $623 in 2013. A similarly graded boxed version sold in 2020 for $1,440:
At this point, my one solace is that the games I sold didn’t end up being worth as much as the ones on this list…
(Those who think the $60 price tag for new video games is expensive, look away now).
CHECK OUT: Xbox vs. PlayStation vs. Nintendo, a simpler way of looking at the (hyperbole) console war.
5. Super Mario Bros. 3 Nintendo Prototype (NES) – $31,200
In September 2020, Heritage Auctions sold what looked like a broken unboxed copy of Kid Icarus on the NES. It wasn’t:
Instead, it was a Nintendo-produced prototype for Super Mario Bros. 3. Built from a Kid Icarus cartridge.
(Talk about unique).
For Heritage Auctions it was the first Mario prototype they had sold, with its label torn, cartridge cut, and EPROM chips on show. It even had a hand-written ‘Super 3’ scrawled on the front.
It looks a mess but clearly has significant value. The big question is, does this prototype have any unique gameplay different from the final retail edition?
(This is a question we don’t yet have an answer to).
4. Air Raid (Atari 2600) – $33,433.30
Air Raid is the Atari 2600’s Holy Grail:
(Despite many saying that Gamma Attack is).
Sadly, no one knows the true value of Gamma Attack as the one copy that went to auction never sold because its owner set a $500,000 price target. It currently has an estimated value of $20,000 to $50,000.
On the flip-side, we know the value of Air Raid:
- April 2010, the game and box sold for $31,600.
- October 2011, the cartridge was sold on eBay for $3,575.
- October 2012, the game, box, and instructions sold for $33,433.30.
The reason it is so in demand:
- Only 12 copies were ever made.
- It has an odd light blue cartridge with a T-shaped handle.
TIP: Explore the attics of friends and family. You never know what gem might be hidden up there (maybe even a copy of Air Raid or Gamma Attack).
3. Stadium Events (NES) – $41,300
Did you know that Bandai beat Nintendo to market with a fitness gaming experience? They did so with the Family Fun Fitness Control Mat and this Stadium Events game.
The game was released in 1987 and by 1988 Nintendo had picked up the rights to the game and the mat. Re-releasing them both as WordClass Track Meet and the Power Pad Controller:
Upon the re-release, Nintendo pulled Stadium Events from the market and allegedly destroyed all copies.
However, 200-copies had already been sold. Only 20 are estimated to still be in existence:
This rarity makes it super expensive. A box by itself is worth $10,000! A copy of the game was sold on eBay for $41,300 back in February 2010.
2. Super Mario Bros. (NES) – $100,150
Back in February 2019, the most expensive video games list was topped by an unopened, test-market copy of Super Mario Bros.
What’s amazing about Super Mario Bros. collectability is that it was one of the most mass-produced games of the 80s:
TIP: Don’t instantly think every boxed Super Mario Bros. is worth big money. You can buy an original boxed version from eBay for $10-$20 because of how widely produced it was. Look for unique elements like a seal, stickers, manuals, etc.
For example, this incredibly-expensive copy of Super Mario Bros. had the trifecta of collectible traits:
- Unopened = Money.
- Rare test market printing = Ridiculous money.
- A glossy Nintendo sticker seal = Ridiculous money doubled.
For more than a year it was considered the Holy Grail of video game finds. Until:
1. Super Mario Bros. 3 (NES) – $156,000
That’s not a typo. It really did sell at auction for $156,000 – as recently as November 20, 2020.
This unopened NES mega-hit was one of the most popular games on the platform when it hit the U.S. market in 1990. The game earned Nintendo $500 million in just North America.
The opening auction bid was a whopping $62,500:
The real appeal behind this copy of the game, beyond its immaculate unopened condition is its rare cover art.
Instead of ‘Bros.’ being on the right, it’s on the left, making it a unique collectible (see below).
CHECK OUT: SCUF Controllers – An Acceptable Form Of Cheating.
In Conclusion
Super Mario Bros. 3 proves that collectors see value where others see a glitch:
TIP: Therefore any budding collector should keep a lookout for one-of-a-kind production changes. As you just don’t know what will be valuable in two-to-three decades.
However, the big consideration should be: can you buy and NOT use it?
If you can, rare and collectible video games will likely only increase in value:
(Yet, like vinyl records, if you have them, it is almost criminal not to play them).
So, if you’re like me and have to unbox, play, and fondle. Video game collecting is challenging as each time you touch the box you’re likely losing a grading point (and ultimately its value).