I've priced myself out of the AES market. I had a decent AES collection back in the day and I had to sell it when I needed the cash. I've rebuilt my collection back with MVS games because I loved the games and I can't justify spending $10-$20K to get all the games I play in AES format.
At the end of the day rare AES carts are the same as rare comic books, records or any other type of collectible. A person pays $2000 for an AES cart (like Slug 1) because that is what the market can bear. That person wants that original home cart because it is an original home cart, being a gamer or collector is irrelevant. Like AES vs. MVS, a $2000 Pink Floyd record from 1967 and an iTunes MP3 may have the same music but owning that $2000 record is a unique experience and possession to that buyer. That record separates you from other Pink Floyd listeners.
Yes, some say AES has an air of elitism but it's also Economics 101. If you got into AES on the ground floor in the 90's and kept your collection, it's now considered rare and worth big bucks. I would love an original Picasso, but I don't have $10 million to spend on one, I will just have to settle for a $99 print. If something is rare, it will be expensive, regardless of hobby.
Speaking of Picasso and art, I think European bootlegs and conversions are also driving up AES prices. The Neo Geo market has evolved to the point that authenticity is now coming into question and buyers are demanding provenance on their purchases and are willing to pay a premium for genuine carts. Just like artwork, one must be aware of forgeries. AES collecting is not for the faint of heart now...
