Old VHS tapes could be worth a small fortune: 'Rarity and nostalgia'
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June 7 is National VCR Day.
Yes, you read that right. Videocassette recorders are still around and there are enough of them to justify a spot on the National Day Calendar — the national day marketing calendar under digital media company Zoovio, Inc.
While most people have retired their VCRs, not everyone has gotten rid of these devices or the VHS tapes that worked with these physical video players.
Some might even be holding onto the retro gadgets after seeing that a sealed, mint-condition "Star Wars" VHS tape from 1977 sold for $57,600 in New Jersey by Goldin Auctions, a collectibles auctioneer, in December 2021.
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If you have a collection of a limited-edition or unopened VHS tapes, you could be in ownership of a small fortune.
"Most VHS tapes aren't worth that much money and will sell for only a few dollars," Baruch Labunski, the CEO at Rank Secure, a Toronto-based digital analytics firm, told FOX Business.
"Rarity and nostalgia are what makes some VHS tapes valuable," Labunski continued.
"An original ‘Star Wars’ tape can fetch $3,500 if it's in a sealed package. A three-piece ‘Halloween’ movie set can bring in $500. A lot has been made of the Walt Disney Home Video releases from 1981. The Black Diamond editions bring in the most money, with most ranging between $50 and $300."
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Labunski added that opened and used VHS tapes tend to have their value "dramatically" lowered.