I'd only call not legit because of how much higher it went than real value, but I wouldn't be too surprised if it went for $700 or so.
I'd price it at around $300. eBay sales vary heaps though with this stuff. An item can sell for $20 one day and $50 the next.
1. People are fan boys of stupid games and think they'd be cool collectables.
Example you could previously pick up Earthbound for $50, now its $300 unboxed. A few other games like this, however this is the most recent one to become popular. Earthbound is a great game, but it's certainly not worth that much in comparison to the fact it was not that limited.
Boxed is here for those interested @ $500 with 7 days left.
http://www.ebay.com/itm/EarthBound-...6872?pt=Video_Games_Games&hash=item337ba81bf8
2. People have no idea of true value and just buy because they want to replay the game from their childhood.
Example: You can see copies of N64 games like Zelda being sold for $30(true value) - $100 because people just want to play them.
I think stores like Gametraders have a lot to do with this. I know someone that owned a Gametraders and they were selling copies of games such as Windwaker (collector's edition - which really isn't any rarer) for $250 just because people wanted to play the game again, whereas you can pick one up for around $50 if you wait. The games would only take a month or so to turnover as well. Other series such as Final Fantasy had this boom too.
It's a good time to sell. I doubt the market for this stuff will go up much more and these prices probably aren't sustainable. Unless of course you've got some holy grails in which case hang onto them.
The same has happened to gaming collectables. Lucky I got in before the crowd I say.
