The Rarest and Most Valuable Sega Dreamcast Games

The Dreamcast is a perfect example of a console that had relatively low commercial success, but a huge underground following after its death.  These two factors help brew up a strong library of games that have high collectibility among gamers that are just now finding out what was so great about the Dreamcast.

There are two major trends you will notice in the list below.  First of all is the dominance of fighting and shooting games, mostly of the 2D nature.  This is of little surprise to those that know the Dreamcast well as there games are some of the main draws for the system — especially when they don’t get ported to other systems.  The second trend you may notice is that Capcom hold eight of the ten places on the US release list — Treasure and SNK are the only others to break the list.  Capcom was one of the few third party publishers to really support the Dreamcast, but they new put out quite as many copies as Sega did with their first-party releases.  Anyway, lets get on with for rest of the formalities and this highly-anticipated list.

In stark contrast to the Cheapest Games series, this Rare & Valuable series will round up the rarest and most valuable games for a given console or handheld so you’ll know what to look for whether you are buying or selling.

Below you will see two prices beside each title. The first is the average daily selling price, which is typically the going rate for the game by itself. The second price is the highest price in the past three months which is usually the price for the new/sealed game. The list is ordered by the balance of the two prices. Note that some of these games are not rare in the sense that there are not many available, but rare relative to demand, which makes the games expensive.

Limited Edition Collectables

Bangai-O Cover Art Bangai-O: Prize Edition: $500 – $1,200
Rarity = 10

This version of the shooter was given out by Treasure to exactly five people as the top prizes in a Japanese high-score competition. While the game itself is identical to the original Bangai-O, the Prize Edition can be identified by a phone card with the Treasure logo on the case declaring itself as a winner’s trophy. In the past, two of these games have been sold, both very quietly. its unknown the price of the first sale, but the most recent was placed in the inventory of an online store for $500, and at that selling point was quickly snatched.  Now, with the most interested of collectors turned on to its existence, any future sales would likely break $1000.
Border Down Cover Art Border Down LE: $250 – $280
Rarity = 4
After the Dreamcast was already buried by US retailers and the last big name import releases like Shenmue II, Rez, and Ikaruga had been released, a small developer by the name of G.Rev (who worked with Treasure on Ikaruga) took a chance on the Dreamcast and helped start a trend of 2D shooters being released on the “dead” platform.  The production of this Limited Edition of Border Down was halted at 5,000 copies.  Initially, it has the same print run as the standard edition, but the original has since been reprinted at least once, at least doubling its availability and the premium placed on the Limited Edition.
Check for Border Down LE on eBay
Space Channel 5 Part 2 Box Set Space Channel 5 Part 2 LE: $200 – $250
Rarity = 4
Space Channel 5 was one of the best examples of quirky fun that made the Dreamcast special.  The game actually received a sequel, but it never came to the Dreamcast outside of Japan.  As if getting the game wasn’t good enough, Japan also received a special box set that included headphones and a carrying case.
See Pictures of Space Channel 5 Part 2 Box Set
Segagaga Box Set Art SegaGaGa Box Set: $150 – $200
Rarity = 3
Segagaga may well be one of Sega’s best love letters to its fans.  Released in 2001, this “Sega Simulator” lets you run the company and battle its nemesis, which is essentially a disguised Sony.  The game was initially only availible through Sega’s online store in Japan and came in a few different flavors with this box set being the most elaborate.    You can see a picture of all the included goodies in this pack on this recent eBay auction.
See the SegaGaga Box Set on eBay

The Expensive Dreamcast Imports

Border Down Cover Art Border Down: $100 – $130
Rarity = 3
Since releasing a new game on a “dead” platform was seen as a bit of a risk, only 5,000 of this standard edition were initially released (along with 5,000 of the limited edition), but since they sold quickly, another 5,000 were released.  At the beginning of 2008, there was also to be another very small print run, but numbers have not been disclosed.
Check for Border Down on eBay
Under Defeat Cover Art Under Defeat: $76 – $96
Rarity = 3
After an impressive string of shmups being released on the Dreamcast, well into the 21st century, G.Rev added one more to the mix with Under Defeat.  It was initially billed as the “last Dreamcast game ever”, but there was actually a few more shmups on the way from Milestone over the next couple of years.  There is also a Limited Edition that includes a soundtrack that is on the higher end of the price range above, but as you can probably tell, its isn’t that much more “limited” or valuable.
Check for Under Defeat on eBay
Ikaruga Cover Art Ikaruga: $60 – $95
Rarity = 3
If you have read the Rare and Valuable Saturn games list, you’re probably well aware of Radiant Silvergun and its strong following and inflated resale values.  When Ikaruga was announced and rumored to be Radiant Silvergun’s follow-up, collectors thought it was a sure-thing investment for their game collections.  And while it did have some rather high prices for a while, it never reached Radiant Silvergun’s levels for multiple reasons.  Because everyone was expecting it to be a collectors item, many people hoarded them and even left them sealed.  So unlike Radiant Silverun, its very easy to find a mint copy of Ikaruga on eBay.  The other reason for Ikaruga’s recent decline (20% decrease in 10 months) in value was retail release in the US for the Gamecube and then the very affordable XBox Live version that is in infinate supply.
Check for Ikaruga on eBay

Treasured Standard USA Releases

Project Justice Cover Art Project Justice: $60 – $400
Rarity = 4
Rival Schools 2, known as Project Justice in the US, obvisouly built on the original and remains as one of Capcom’s most popular (with a rather nice following) 3D fighters.  Like its predecessor, Project Justice has a lot of quirky characters that cater to the anime crowd and is just a real pleasure to play.  It isn’t especially rare, but Capcom released it in May 2001, several months after the Dreamcast was discontinued by Sega.  Finding a sealed copy of this Dreamcast exclusive is very tricky and has sold for a few hundred dollars.
Check for Project Justice on eBay
Marvel vs. Capcom 2 Cover Art Marvel vs. Capcom 2: $50 – $100
Rarity = 2
If you want the biggest mashup of characters in your fighting games, Marvel vs Capcom 2 is the place to be.  It may not be the most balanced game for tournaments, but its one of the hottest mainstream 2D fighters out there.  Most gamers may flock to the PS2 version, but the Dreamcast release still commands strong collectability.
Check for Marvel vs Capcom 2 on eBay
Cannon Spike Cover Art Cannon Spike: $31 – $180
Rarity = 3
Cannon Spike is very similar to the overhead shooting Smash TV OR Commando and has a heavy focus on boss battles. The shooter also features playable characters and cameos from other Capcom franchises like Mega Man,Ghosts ‘n Goblins, Darkstalkers and Street Fighter. Cannon Spike was released during the Dreamcast’s final Christmas and did not receive much promotion or word-of-mouth until it was long gone from stores.
Check for Cannon Spike on eBay
Power Stone 2 Cover Art Power Stone 2: $31 – $175
Rarity = 3
Capcom may not have had much success with 3D fighting games, but it really got it right with the Powerstone series.  Both games are fun-filled arena fighters that allow full 3D movement and interactive environments.  Powerstone 2 added 4-player support and is significantly harder to find than its predecessor.  It’s also very surprising that the series hasn’t been brought to any other platforms besides the PSP.
Check for Power Stone 2 on eBay
Street Fighter III Third Strike Street Fighter III Third Strike: $35 – $105
Rarity = 3
While it did not get the attention of Street Fighter 2 and the Alpha series, Street Fighter 3: Third Strike is one of the best installments in the series, especially when it comes to finely-tuned tournament players.  Its combination of smooth animation, great characters, and a new parrying system keep fighting enthusiasts coming back for more.  Even though the game was included on the Street Fighter Anniversary Collection for the PS2 and XBox, the Dreamcast version is still in strong demand.
Check for Street Fighter 3: Third Strike on eBay
Bangai-O Cover Art Bangai-O: $45 – $90
Rarity = 4
Treasure is known for quirky action games, and Bangai-O is definitely on the higher part of that spectrum.  This multi-directional shooter is all about explosions, chaos, and fun.  Like most Treasure games, it’s a cult classic and is the Dreamcast version is the only English version of the game so far.  (It had a small release in Japan for the N64).
Check for Bangai-O on eBay
Fatal Fury Mark of the Wolves Cover Art Fatal Fury Mark of the Wolves: $48 – $69
Rarity = 3
Mark of the Wolves was ported from the Neo-Geo and served as the last game in the Fatal Fury series.  It is essentially SNK’s answer to SF3: Third Strike as it shares many of the same types of advancements, but it has its own unique fighting elements and showed off SNK’s strength in character design. The Dreamcast version ended up on store shelves more than six months after the Dreamcast’s demise and quickly ended up on clearance shelves
Check for Fatal Fury: Mark of the Wolves on eBay
Mars Martix Cover Art Mars Matrix – Hypersolid Shooting: $40 – $77
Rarity = 3
As one of the most popular vertical shooters released in the US, Mars Matrix still commands a respectable price from collectors.  And with the high likelihood of it remaining as a Dreamcast console exclusive, that value should hold up for a while longer as shmup fans build up their Dreamcast collections.
Check for Mars Matrix on eBay
Marvel Vs Capcom Cover Art Marvel Vs Capcom: $23 – $167
Rarity = 2
Even though Marvel vs Capcom 2 has more character and flashier visuals, there is still a strong following for the original Marvel vs Capcom.  Personally, I prefer it to the sequel as it is seems to be a bit more balanced and slightly less chaotic.  It is also the only console version of the game that accurately replicates the arcade game (the PS1 version is very crippled)
Check for Marvel vs Capcom on eBay
Tech Romancer Cover Art Tech Romancer: $25 – $100
Rarity = 3
Tech Romancer is a 3D fighting game fought on a 2D plane. In this hidden gem, you fight as Mechs (designed by established anime creators, Studio Nue) and release power-ups by destroying the environment around you. The Dreamcast version also includes an unlockable version of the Tech Romancer anime.
Check for Tech Romancer on eBay

Additional Sega Dreamcast Games of Value

These games aren’t especially rare, but are quite collectible; resulting in a high resale value, especially for sealed copies.

Limited Editions

  • Love Hina LE $100 – $150
  • Nakoruru LE – $90 – $100
  • Castle of Shikigami 2 LE (Japan) – $83 – $89
  • Sonic Adventure Limited Edition (USA) – $43 – $50

USA Releases

  • Resident Evil 2: $22 – $85
  • Giga Wing 2: $32 – $48
  • D2: $21 – $98
  • JoJo’s Bizarre Adventure: $25 – $75
  • Stupid Invaders: $21 – $60
  • Skies of Arcadia: $21 – $70
  • Last Blade 2 Heart of the Samurai: $20 – $80


  • Eldorado Gate Box Set (includes multiple games): $180 – $200
  • Shenmue II (PAL):  $59 – $93
  • Trigger Heart Excellica: $80 – $85
  • Cosmic Smash: $74 – $85
  • Zero Gunner 2: $69 – $75
  • Twinkle Star Sprites: $65 – $75
  • Trizeal: $53 – $70

Also, if you’re a Sega Dreamcast owner, be sure to check out the Sega Dreamcast VGA cable in the Racketboy Store


Eric says:

I have Project Justice, my rarest game. The most I’ve seen a DC game go for was over $200 and that was Shenmue 2 sealed. O and BTW great site I come here quite often to re-live the DC experience.

Paperghost says:

I have some pics of the Space Channel 5 boxset here, along with a lot of other Space Channel 5 stuff.

racketboy says:

Very nice! Thanks for sharing!
And thanks everyone for sharing additional titles and prices. I’ll be updating this later on!

czarlie says:

I’ve got 1 of the 5 Bangai-O prized edition collectable.
Not sure which one though? Reading this article/story has motivated me to put it on Ebay instead of just posting pics of it on Google… Yah I’m gonna do it! Look for it next month, for sure by 09/09/09, it’s gonna be its Anniversary this year. Just in case anyone was wondering what the scores where back in the day, here they are:

HAISUKOARANKINGU Tournament Final Results! !
Place Scores Names IDs
1st 60199689 sabin-like AAA51
2nd 45031129 TOM-like AABD0
3rd 41608889 From presbyopia AACFE
4th 32407070 I like it AAB0F
5th 32289300 ponpon like AAB1B

RowdyRodimus says:

Sorry to rez the dead but I happened to find a pristine (but opened) copy of Ikaruga and Bangai-O for five bucks at a store today. I asked how much they were and they said all Dreamcast games were 4.95 and buy one get one free.

It only took 30 years for me to have a bit of luck so I hope they last me for another 30.

racketboy says:

Wow — that’s incredible! Congrats on the awesome find!

James says:

I managed to snag Mars Matrix and Giga Wing, USA versions, for…. about 25 dollars each, complete and brand new condition. They aren’t that rare, to be honest. I see MM quite frequently around here in pawn shops, and have even spotted it in goodwill a couple years back. However, I believe Record of Lodoss War is less common than either of the previously mentioned games, as I had a harder time snagging it in decent condition. And I have not seen it around here either.

Someone mentioned Chaos Field. It’s a pain to find for the DC, but not Gamecube. Just throwing that out there.

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