What is a Pinball Machine Worth?
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1 Prices
The value of a pinball machine is a highly subjective topic. A totally restored Medieval Madness might sell to a serious collector for well in excess of $10,000. A pinball dealer might offer $5000 for the same machine a week later. A tire-kicker might offer $3000 because the machine is "not original" and so on.
Pinball price is dependent on a variety of factors, such as desirability, availability, location and condition. Guides are available that track the price on an annual basis and sites like Pinpedia list past auction prices. Unfortunately 'shilling' and other nefarious practices can happen on online auction sites, so take the results with a pinch of salt. Just because a machine has a 'Buy it now' for $3k doesn't mean it will sell for $3k.
A dirty machine, without serious damage, can take 40 hours to clean up and $400 in plastics, rubbers, lamps and materials. Add another $200 for legs, door and trim. Playfield swaps add another 40 hours and $600 - $900 for the playfield. And cabinet decals are another 20 hours plus $300 for the decals.
Unfortunately, too often it seems people will 'discover' an old beat up machine in the back of their garage and assume as they just saw an Addams Family on eBay with a 'Buy it now' of $6k, then their pinball machine is worth at least at much. It can be hard trying to explain to people like this the reality of the situation.
Rarity does not necessarily mean a higher price. Pinball machines were built to be put on location and make money. If a game was popular with the public, they put more money in them, meaning the operators bought more machines. If a table wasn't popular, not many were bought by the operators and thus not many were made.
This is self evident with 'Addams Family', a well regarded table and the highest production run of the modern pinball era. This machine can still command a high price even though there were 21,000 of them, whereas a similar machine of the same era like Hurricane with only a few thousand made can be found quite cheaply in comparison.
There are exceptions to this rule, including prototype machines and limited runs like Big Bang Bar and LOTR:Limited Edition (Gold Trim)
Broadly speaking, pinball machines price out into several groups. Each group has a high and low section. This list is only an example, as mentioned above there are many factors that can affect the price.
The high dollar machines tend to be modern solid-state machines with DMD displays. These machines have very broad appeal. Also, their parts are worth almost $1000 (electronics + display + transformer + mechanisms), which sets a floor for the value. Older machines appeal to a narrower audience, and so the price tends to be lower. However, there are still high dollar EM machines.
1.1 '90s and newer
Here are some broad categories of '90s and newer games. Note that these prices are still somewhat arbitrary. A Judge Dredd, retail, delivered, with warranty, and all original, might still be $4000. Or, a really rough Addams Family can be found for $3000 -- maybe.
1.1.1 Exceptions
Pinball machines that can exceed $10,000.
- Big Bang Bar
- Medieval Madness (premium restoration)
- Cactus Canyon
1.1.2 The "A" List
$4000 and up
1.1.3 The "B" List
$3000 - $4000
- Attack from Mars
- Circus Voltaire
- Safecracker
- Lord of the Rings
- Spider-Man
- Theatre of Magic
- The Simpsons' Pinball Party
- Indiana Jones: The Pinball Adventure (Williams version, not Stern)
- Twilight Zone
1.1.4 The "C" List
$2000 - $3000
1.1.5 The "D" List
Under $2,000
1.2 '70s and '80s solid state
Most '70s games can be had for less than $1000. Most '80s games are less than $2000. There are many exceptions.
'70s and '80s games haven't held up as well as '90s games. Games that get full restorations, perhaps including playfield swaps, can easily be over $2000 or perhaps higher.
Relatively expensive titles include Black Knight, Black Knight 2000, Eight Ball Deluxe, Fathom, Firepower, High Speed.
Relatively cheaper titles include Frontier, Meteor.
Gottlieb and Stern titles can be less. Of course, they are more difficult to repair.
1.3 EM games
As a rule, single-player EMs are more desirable. Multi-player EMs are less desirable. Almost all are less than $1000.
Some games, like Fireball, can be fairly expensive.
Most EMs prior to the '70s had fairly short runs. A lot of ads will claim, "Only 600 made!" But 600 was a pretty respectable run for many games in the '50s. For an add-a-ball in the '70s, 600 can still be a respectable run.
2 Location
If you're in California, games cost a little more. If you're in Chicago or the midwest U.S., games cost a little less.
3 Resale value
In general, if the machine is well looked after you tend not to lose money when the time comes to sell it on. They can take a while to sell, depending on what price you set and current market conditions.
4 Aftermarket Modifications
Some people prefer completely original machines, while others like to fit various modifications to the table. These can vastly affect the price depending on which mods have been fitted, some people pay more for original unmolested tables, whereas others will pay extra for a table that has been fitted with after market modifications.