Long relegated to an obscure corner of the collectors’ market, VHS tapes have fetched stunning prices at auction in recent months, fueled by nostalgia and an appetite for new investment opportunities.
At a Heritage Auctions auction in June, a Back to the Future videocassette sold for $75,000, while copies of The Goonies and Jaws sold for $50,000 and $32,500, respectively.
Videocassette collectors have been around since the late 1970s, when the format was first introduced, but these days most “VHS cassettes are worth next to nothing,” according to John of Newmarket, Canada, who claims to have sold around 3,000 of them span of more than 20 years.
“You’re lucky to get $5 a piece,” says this active eBay user, who declined to give his last name.
Until recently, only some films not released online or on any other medium, as well as little-known horror films, could fetch higher prices, sometimes over $1,000.
However, this new trend is mostly focused on blockbuster titles, especially from the early 80s. To be considered valuable, a tape must meet certain criteria, with a premium being placed on first editions and sealed copies. A limited edition, such as a larger boxed version of “Star Wars”, would also arouse interest.
George Lucas’ cult-classic sci-fi is widely regarded as a must-have and multiple copies have sold for over $10,000.
The Holy Trinity could be first season films released in the US market in 1977 namely “MASH”, “Patton” and “The Sound of Music” by a financially troubled 20th Century Fox with Magnetic Video.
Jay Carlson, VHS Consignment Director at Heritage Auctions, said these could “get into six figures, maybe seven”.
– Nostalgia meets investment opportunity –
Many long-time collectors are puzzled by the sudden surge, 16 years after the last release of a film in this format (“A History of Violence”). The last VCRs were made in 2016.
“I think a lot of it is nostalgia and the compulsion to collect,” says Philip Baker, who runs the website www.videocollector.co.uk. “One of the things that makes VHS different from other formats is that it was the first accessible way to watch a movie at home.”
Pat Contri, host of the Completely Unnecessary podcast, has a different take and draws a parallel between the current VHS trend and video games. He said both markets are flooded with “people who have just decided to get in. They said to themselves, ‘I have money, let’s invest in it.’”
Over the past decade, several of these cultural staples have become collectible asset classes, from sneakers to skateboards, thanks to a new generation of investors, many of whom grew up with them.
An entire industry is coming together, as evidenced by the growing number of dedicated Facebook groups, appraisal services evaluating authenticity and condition, and auction houses willing to add VHS to their sales.
Contri criticized the process as “rather than allowing a relatively new collecting hobby to develop naturally for the masses, you’re trying to lure people with +FOMO+ fear” as fear of missing out on a lucrative investment.
“There are people who are just open-box types, and they’re very skeptical about sealed types and what they mean for their own collecting,” Carlson said. “But I just think it’s a good thing. It’s just a difference in the way you collect.”
Carlson sees even more potential in VHS tapes than in video games, which posted two sales last year that each exceeded a million dollars.
“I know a lot of people who don’t care about video games and don’t play video games, but I don’t know very many people who don’t have a favorite movie.”
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