The vintage slot machine has lost its popularity due to the highly advanced games that are available today. But vintage slots are still hot sellers in the antique market.
Case in point, one vintage slot machine recently sold for $80,000 at a Las Vegas auction. The auction saw 150 other slot machines sold during a two-day event.
Vintage Slot Machines Mean Big Business
A Caille Bros. Big Six Double Upright Slot Machine was the prize of the recent Vegas auction. This 1904 slot was described as being “an excellent restoration of a rare original machine.”
The Las Vegas Review-Journal reports that the opening bid on the game was $45,000. More bids poured in from the auction house and those motioning the event over the internet.
The auctioneer wasn’t sure who the machine sold to initially. After checking the registration log, he found that the seller wanted to remain anonymous.
It’s common for those involved in large auctions to stay anonymous, because they don’t want others knowing how much they pay for items. This is especially the case when the item is set to be resold.
Red Tape Surrounding Selling Vintage Slot Machines
Nevada laws call on slot machine auctioneers to gain approval from the Gaming Control Board prior to the event. Once approval is received, they’re eligible to auction off cosigned antique gambling devices.
The Silver State is very particular about gambling auction rules, because they don’t want unlicensed people selling slot machines to casinos. Instead, they only allow individuals to auction off vintage products that no longer have utility.
The Control Board and the Nevada Gaming Commission both approved the auction that sold the $80k slot machine unanimously.
From here, it’s unclear where the vintage game will go. This will all depend upon whether the buyer is a collector or reseller.