Why are Retro Game Prices Going Up?
Retro game prices are going up due to a combination of factors, including natural scarcity, increased demand, and nostalgia inflation, which drive up the prices of rare and collectible games over time. The aging of retro game consoles and hardware also contributes to the increasing prices, as surviving items become more valuable and sought after by collectors and enthusiasts.
Factors Contributing to Rising Retro Game Prices
Scarcity and Demand
The natural scarcity of retro games, caused by the cessation of production by game publishers, leads to a limited supply of old game cartridges and discs, which in turn drives up prices. As older units begin to age and fall apart, the demand for surviving items increases, making them more valuable.
Nostalgia Inflation
Nostalgia inflation also plays a significant role in the increasing prices of retro games, as collectors and enthusiasts are willing to pay more for rare and collectible games that evoke memories of their childhood.
Aging of Retro Game Consoles and Hardware
The aging of retro game consoles and hardware is another factor contributing to the rising prices of retro games, as surviving items become more valuable and sought after by collectors and enthusiasts.
Frequently Asked Questions
FAQ 1: Why are retro games getting expensive?
Retro games are getting expensive due to natural scarcity, increased demand, and nostalgia inflation, which drive up the prices of rare and collectible games over time.
FAQ 2: Why are game prices increasing?
Game prices are increasing due to inflation, complexity, and increased costs associated with creating elaborately detailed games, as well as rising salaries for programmers and creatives.
FAQ 3: Why are PS5 games $70?
PS5 games are $70 due to inflation and ballooning costs associated with creating increasingly complex and elaborately detailed games.
FAQ 4: Why are video games so expensive in 2023?
Video games are expensive in 2023 due to rising inflation, heavy investment, and rising costs of game development, which have led to an increase in game prices.
FAQ 5: Who started $70 games?
Take-Two was the first to break the $60 price ceiling in 2020, selling the PS5 and Xbox Series X editions of NBA2K21 for $70.
FAQ 6: Will old video games go up in value?
Yes, old video games can go up in value due to nostalgia inflation, demand, and rarity, making them collectible and valuable.
FAQ 7: What game costs $2000?
The indie title The Hidden and Unknown was purposefully made shorter than two hours so that players could easily ask for a refund, but some rare games can cost up to $2000.
FAQ 8: Why are old games still $60?
Old games are still $60 due to consumer expectation, as game publishers are wary of increasing prices above $60, fearing that it may deter sales.
FAQ 9: Why is every video game $60?
Every video game is not always $60, but AAA publishers often set their game prices at $60 as a guaranteed method of leveling the playing field for game sales.
FAQ 10: Will games go down in price?
Yes, games can go down in price over time, with permanent price drops often occurring after a year or so, and sales and discounts available shortly after release.
FAQ 11: Have video games gotten cheaper?
Yes, video games have gotten cheaper over time, with $60 in 2018 equivalent to $70.88 today, and some old games being ludicrously cheaper than they were years ago.
FAQ 12: How long until video game prices drop?
Video game prices can start dropping a few weeks after release, with price drops ranging from 3% to 6% during this time.
FAQ 13: Are retro games making a comeback?
Yes, retro games are making a comeback, with many older games being released on modern platforms, and nostalgia driving demand for classic games.
FAQ 14: Why do people still play retro games?
People still play retro games due to nostalgia, simpler gameplay, and the fun and challenge they provide, which can be lacking in modern games.
FAQ 15: Why aren’t old games free?
Old games are not free because someone still owns the rights to those games, and licenses to distribute them may have expired, making it costly to re-release them, even for free.