Ever wonder why people pay insane amounts of money for tech that’s way past its prime? We are talking thousands, even millions of dollars, for things like vintage computers, game consoles, or cell phones that are decades old and not even relevant anymore!
It turns out there are some legit reasons why retro electronics and tech gadgets can fetch a pretty penny.
1. Social Status
When someone drops six or seven figures on a vintage piece of technology, it’s partly because owning something so exclusive conveys prestige and shows they have deep pockets.
For example, in 2014, an original Apple 1 computer from 1976 sold at auction for $905,000. At the time of writing, an Apple 1 lists for about $1,500,000 oneBay(though I would express some skepticism about the listing!). The tech specs are utterly dismal compared to modern machines, but owningone of the earliest Apple computersever built brings serious bragging rights among collectors. It basically shouts, “I’m rich and can afford anything!”
Similarly, old game consoles like the Nintendo PlayStation prototype fetch astronomical sums because they give owners gamer cred. In March 2020, an unreleased console sold for $360,000 onHeritage Auctions, setting a record for the most expensive video game item ever auctioned. Only 200 were ever built. So, being one of the very few owners gives a next-level nerd clout.
In short, outdated tech auctions are filled with people trying to solidify their social status and signal they’re part of an elite club. The exclusivity and bragging rights of owning rare vintage tech are a huge part of its appeal and value.
Part of what makes something rare is having few units manufactured in the first place. Early prototypes and first-generation releases are often rare simply because the technology was so new and production was limited.
But rarity can also come down to how many original units have survived over the decades. If a device was commercially unsuccessful or unpopular when it came out, people likely threw their copies away. Fast forward a few decades and very few working units remain, instantly making them more valuable to collectors.
Rarity also often goes hand-in-hand with being old and unused. If the item sat in storage for years without being powered on or handled, it will be in much better shape compared to well-loved tech that saw daily use. Mint condition boosts value even further.
A prime example is the ultra-rare, still factory-sealedoriginal iPhone from 2007that fetched over $190,000 at an auction in 2023. Apple discontinued the 4GB model just months after its release, making it incredibly scarce today. Out of the millions of first-generation iPhones sold, barely any unused 4GB models remain. This supreme rarity made it a “holy grail” for collectors, driving the price to over 300 times its original $599 tag.
Something doesn’t have to be vintage to be valuable if it’s exceptionally hard to find.
3. Nostalgia
Nostalgia for beloved old tech and entertainment makes people pay irrational auction sums. Collectors want to recapture a piece of their childhood—and will shell out whatever it takes.
The Super Mario 64 cartridge sold for $1.56 millionis one nostalgic piece of retro gaming. Mario games are not rare, so its astronomical price was purely driven by nostalgia. The buyer was likely flooded with warm memories of playing the 3D Mario classic as a kid and would pay anything to recapture that nostalgic feeling.
This effect applies across the board. Old VHS tapes are commanding insane auction prices, not because they’re scarce, but because people long to re-experience watching favorite films on tape like they did growing up. A Back To The Future VHS sold for $75,000 onHeritage Auctionsin June 2022, simply because the bidders wanted to relive seeing it on VHS as a kid.
Even relatively modern tech is skyrocketing in value if it’s nostalgic. A Bill Gates TRS-80 laptop went for $25,000 at auction houseRR Auctionbecause it reminded bidders of computing’s early days.
Any tech gadget sparking nostalgia becomes coveted.
4. Historical Significance
Regardless of practical use, collectors pay premiums for devices that marked transitions in tech’s evolution. Their value stems from historical importance rather than specs or features.
For example, a vintage Leica camera auctioned for $15 million in June 2022 was one of the first commercially produced 35mm cameras, completely changing photography forever.
As pioneers of 35mm photography, they marked a pivotal evolution from bulky cameras to portable, lighter devices. Despite being useless today, their historical role in popularizing compact cameras makes them coveted.
The rare Nintendo PlayStation prototype we earlier mentioned that sold for $360,000 also owes its value to being a seminal relic. It marked the pivotal collapse of Sony and Nintendo’s partnership, paving the way for the PlayStation. As an artifact of that fateful split, it’s historically priceless.
Even more mundane tech can become coveted if it has historical significance. A regular Toshiba laptop sold for $61,931 atan RRAuctionin 2014 simply because Bill Clinton used it to send the first presidential email to outer space in 1998. Despite not being rare in terms of production numbers, its role in White House tech history gave it great value.
Even failed tech can sell big based on its historical symbolism. Take the Apple Newton PDA from 1993.It was one of Apple’s biggest failures, with dismal sales. The handwriting recognition software was so bad it became a laughing stock.
But as one of a major tech company’s first attempts at a mass-market PDA, a working unit of the first Newton models was sold for over $800 in 2022 onRR Auction. Despite being a notorious failure, it still marked an important step in the evolution of mobile tech.
5. Resell Potential
Collectors and investors see the long-term profit potential in retro gadgets. They pay crazy sums now on the bet that nostalgia and scarcity will drive resale values up over time.
Of course, it’s a gamble—you never know what tech will take off and be in demand. But some folks have a knack for spotting the gadgets and gizmos that end up being major cultural touchstones. And they’re investing in tech antiques, almost like trading stocks.
So, given the pace of technological change, nearly any gadget can become a coveted antique if you hold onto it long enough.
Your Old Tech Could Fund Your Future Dream
At the end of the day, people are willing to shell out big bucks for old gadgets at auction because vintage tech lets them own a cool piece of history, make a shrewd investment for the future, or satisfy their inner collector.
So next time you come across your old electronics, handle them with care–one day, that ancient answering machine or brick cell phone could pay for a very nice vacation if you cash it in at the right vintage tech auction!
