To be very clear, we obviously aren’t talking about just another copy of Super Mario 64. No, we’re talking about a sealed copy of the game that received a truly remarkable 9.8 A++ grade from respected retro video game grading service, Wata Games. Wata Games CEO Deniz Kahn even said that this is likely the most pristine copy of Super Mario 64 in existence. That also means that it’s the most pristine copy of one of the most popular, influential, and beloved games ever made. Needless to say, that makes it quite valuable.
Even still, the exact amount of this winning bid is raising some eyebrows. As Kotaku notes, a 9.4 A++ graded copy of Super Mario 64 sold for “only” $28,000 at this same auction. While the difference between those grades is certainly substantial in the world of high-end video game collecting, even hardcore graders and collectors are having a hard time explaining the shocking difference between those two price points.
So what is the explanation? Well, some are already wondering if this whole thing is actually part of a money-laundering operation. That theory may be little more than pure speculation at this time, but it certainly wouldn’t be unheard of for auctions and high-value collector’s items to be unwilling parts of money laundering schemes.
However, the most likely explanation in this instance may also be the simplest: a few whale investors who really want to own the rarest copy of Super Mario 64 decided to drive up the price because they clearly have way too much money.
See, while this is a rare copy of Super Mario 64, it’s worth noting that Super Mario 64 is not inherently a rare game. It is, in fact, the best-selling N64 game ever by a pretty respectable margin. It was even included in quite a few N64 console bundles sold during that system’s run. A lot of people owned Super Mario 64, and a lot of people fondly remember their time with the game just as they now recognize its historical significance.
That does seem to be the point here. While you can’t rule out the possibility that there’s something malicious at play (even if it’s just market inflation), it’s highly likely that Super Mario 64‘s popularity drove up its price in a market where you may suspect that inherently rare games would be more valuable. As we’ve seen with the rise in Pokémon TCG sales, though, pristine copies of incredibly popular pop culture items can sometimes fetch way more on the open market than obscure items that most people don’t have any nostalgia for.