Back to the Future VHS Sells For $108,000, Breaks Auction Record
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Do any of you folks still have any of the old VHS tapes of your favourite movies just lying around the house? If they're just sitting in your cabinets gathering dust and you're thinking of throwing them away, we're here to tell you that you might be sitting on a gold mine!
As it turns out, there are some avid collectors out there who are willing to spend over a hundred thousand dollars just to get their hands on some of these items.
Last week, a sealed VHS tape of the hit science fiction movie 'Back to the Future', which was released in 1986, was recently purchased at an auction for an astounding sum of $108,000 AUD, which established a new record price for a videotape.
Nearly 260 unopened VHS tapes, most of which were first-edition copies of films from the 1970s and 1980s, were up for bid at the auction which was managed by a Texas-based auction house.
Tom Wilson's VHS tape of "Back to the Future" from 1986. Credit: CNN.
If you're wondering why someone would shell out more than a hundred thousand dollars for a sealed VHS copy of the movie, it appears that it was previously owned by the actor Tom Wilson, who played Biff Tannen in the smash-hit sci-fi flick series.
Tom Wilson's initial intention was to merely sell the VHS tape over the internet so he listed the collector's item for sale on eBay. However, to his surprise, he received such an overwhelming number of responses that he was compelled to remove the listing from the website.
He then contacted Heritage Auctions in Dallas to arrange for a proper sale.
Other VHS tapes and Back to the Future memorabilia, including the actor's collection of graded and sealed VHS tapes of Back to the Future II, Back to the Future III, and the 1990 Back to the Future trilogy boxed set, were also reported to be up for sale.
The fact that Wilson offered to write a note to accompany each tape and sign each shipment was another thing that set this collection apart as something truly unique.
Now we're wondering how much money he'll make after his entire collection is taken off his hands...
Collectors are becoming more interested in VHS tapes again. Credit: Gusztav Hegyi/Getty Images.
A New York-based collector reportedly prevailed in the bidding war for the Back to the Future VHS copy, according to Heritage Auctions. They also mentioned that the $108,000 was the "highest price ever paid at auction for a sealed, graded VHS tape".
VHS tapes are experiencing a revival among collectors, with films such as The Goonies, Ghostbusters, and Jaws fetching high prices at the auction house.
Joe Maddalena, executive vice president of Heritage Auctions, told CNN, "We had no idea what was going to happen – no one's done this before and to see the success, it's amazing."
Maddalena also expressed his hope that the sale will rekindle interest in VHS tapes and encourage more celebrities to part with their collections.
But are regular, unsealed VHS tapes (that also weren’t previously owned by celebrities) really worth anything? Is it as simple as putting your old movies on eBay and waiting for the money to roll in?
As it turns out, there are a few tapes that could net you a tidy sum. However, not any old VHS tape can be considered valuable. In fact, online collectors covet a very specific set of films.
According to JT, an avid VHS collector who regularly attends swap meets, something mass-produced like Jaws or Home Alone probably wouldn't be worth much.
But a rare VHS copy of the cult horror classic Sleepaway Camp from the 1980s that she discovered in a warehouse recently sold for $300 to a collector in the US.
"There is potential for thousands and thousands. It really comes down to that collector," she said.
A Star Wars fan is putting up his collection of VHS tapes for sale online. Credit: eBay.
Here are some more movies that are said to be extremely valuable to collectors and the price they can fetch, provided they’re in excellent condition and the right version:
Credit: The Auction Professor.
What a price to pay to reminisce, eh?
What are your thoughts, members? Are you also willing to pay this much money for a VHS tape?
As it turns out, there are some avid collectors out there who are willing to spend over a hundred thousand dollars just to get their hands on some of these items.
Last week, a sealed VHS tape of the hit science fiction movie 'Back to the Future', which was released in 1986, was recently purchased at an auction for an astounding sum of $108,000 AUD, which established a new record price for a videotape.
Nearly 260 unopened VHS tapes, most of which were first-edition copies of films from the 1970s and 1980s, were up for bid at the auction which was managed by a Texas-based auction house.
Tom Wilson's VHS tape of "Back to the Future" from 1986. Credit: CNN.
If you're wondering why someone would shell out more than a hundred thousand dollars for a sealed VHS copy of the movie, it appears that it was previously owned by the actor Tom Wilson, who played Biff Tannen in the smash-hit sci-fi flick series.
Tom Wilson's initial intention was to merely sell the VHS tape over the internet so he listed the collector's item for sale on eBay. However, to his surprise, he received such an overwhelming number of responses that he was compelled to remove the listing from the website.
He then contacted Heritage Auctions in Dallas to arrange for a proper sale.
Other VHS tapes and Back to the Future memorabilia, including the actor's collection of graded and sealed VHS tapes of Back to the Future II, Back to the Future III, and the 1990 Back to the Future trilogy boxed set, were also reported to be up for sale.
The fact that Wilson offered to write a note to accompany each tape and sign each shipment was another thing that set this collection apart as something truly unique.
Now we're wondering how much money he'll make after his entire collection is taken off his hands...
Collectors are becoming more interested in VHS tapes again. Credit: Gusztav Hegyi/Getty Images.
A New York-based collector reportedly prevailed in the bidding war for the Back to the Future VHS copy, according to Heritage Auctions. They also mentioned that the $108,000 was the "highest price ever paid at auction for a sealed, graded VHS tape".
VHS tapes are experiencing a revival among collectors, with films such as The Goonies, Ghostbusters, and Jaws fetching high prices at the auction house.
Joe Maddalena, executive vice president of Heritage Auctions, told CNN, "We had no idea what was going to happen – no one's done this before and to see the success, it's amazing."
Maddalena also expressed his hope that the sale will rekindle interest in VHS tapes and encourage more celebrities to part with their collections.
But are regular, unsealed VHS tapes (that also weren’t previously owned by celebrities) really worth anything? Is it as simple as putting your old movies on eBay and waiting for the money to roll in?
As it turns out, there are a few tapes that could net you a tidy sum. However, not any old VHS tape can be considered valuable. In fact, online collectors covet a very specific set of films.
According to JT, an avid VHS collector who regularly attends swap meets, something mass-produced like Jaws or Home Alone probably wouldn't be worth much.
But a rare VHS copy of the cult horror classic Sleepaway Camp from the 1980s that she discovered in a warehouse recently sold for $300 to a collector in the US.
"There is potential for thousands and thousands. It really comes down to that collector," she said.
A Star Wars fan is putting up his collection of VHS tapes for sale online. Credit: eBay.
Here are some more movies that are said to be extremely valuable to collectors and the price they can fetch, provided they’re in excellent condition and the right version:
- Beauty and the Beast (1991) - $17,000
- Aladdin (1993) Black Diamond copy - $10,000
- Cinderella (1950) - $5,000
- Dumbo (1941) - $2,800
- The Jungle Book (1967) - $1,000
Credit: The Auction Professor.
What a price to pay to reminisce, eh?
What are your thoughts, members? Are you also willing to pay this much money for a VHS tape?
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