The Rarest & Most Valuable Sega Master System Games

Rare and Valuable Sega Master System Games

About this series: 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.

Since Sega’s first console wasn’t a bit hit in the United States and it doesn’t have as much of a collector’s following as some newer systems, it can be a challenge to find a lot of price information on the rarer Master System games.  However, after a lot of research on eBay, forums, and rarity guides online, I think I’ve compiled a fairly accurate listing of the Master System libary.  It’s also worth noting that with a quick search on eBay, you may find that some prices for games may vary for certain games.  Often in those cases, it may be due to a more common region variation of the game being sold without being specified (often a common PAL version instead of the US version)

Sonic the Hedgehog Master System Cover Sonic the Hedgehog: $300 – $500

Now, don’t get confused on this one (or some of the others to follow).  If you look on eBay for a Sonic the Hedgehog for the Master System, you will indeed find some inexpensive games that will play on the North American Sega Master System, but most likely, it is actually just the more common European version.   The only way to tell the European versions from the North American counterparts is that US releases have a sticker barcode on the back (and the code often begins with “01008” as opposed to the PAL’s “49743”)  Because of this, you need a complete game (not just the cart) to have much value.
Shop for Sonic the Hedgehog on eBay

James Buster Douglas Master System Cover James Buster Douglas Knockout Boxing: $150 – $400

This games is just hard to find all-around.  After the real US Sonic release, this is the next in line in terms of rarirty.  It is also the most sought-after loose cartridge (you don’t have to worry about the more-common European version).
Shop for James Buster Douglas Knockout Boxing on eBay

Golden Axe Warrior Master System Cover Golden Axe Warrior: $65 – $200

This one is a mix of rarity and demand for a solid exclusive title.  Warrior is a real challenge to find at an affordable price and it’s also Zelda-like spinoff of Sega’s classic Golden Axe franchise.  If you’re looking to build a top-notch Master System collection, this is a solid entry that will command respect in more ways than one.
Shop for Golden Axe Warrior on eBay

Out Run Master System Cover Out Run (Blue Label) 1990 Re-Release: $50 – $100

It isn’t hard to find Out Run for the Master System, but there are a handful of games that saw a late re-release with a simple packaging change.  This 1990 release has a blue label on the cartridge instead of the original red one.  That’s the only difference.
Shop for Out Run (Blue Label) on eBay

Power Strike II Master System Cover Power Strike II: $60 – $85

Like Golden Axe Warrior, Power Strike II is both hard to find and an excellent Master System exclusive.  If you like 2D shooters then you owe it to yourself to try this game out (at least on an emulator). This is easily one of the best 8 bit shmups and can even hold its own against many 16-bit shooters.
Shop for Power Strike II on eBay

Phantasy Star Master System Cover Phantasy Star: $23 – $60

While it isn’t super common, Phantasy Star’s value rides more on the fact that it’s the first installment of Sega’s classic RPG series.  It is still regarded as one of the best 8-bit RPGs and other than a few releases in compilations many years down the line, it also remained an exclusive to the Master System
Shop for Phantasy Star on eBay

Out Run 3D Master System Cover Out Run 3D: $40 – $80

Here’s Out Run again!  This time it’s the version that makes use of the Master System’s ahead-of-its-time 3D glasses.  There were a handful of games that utilized the 3D, but Out Run is one of the harder games to find and also one of the most in-demand.  It’s a cool little collectible if you can scoop it up.
Shop for Out Run 3D on eBay

Spiderman Master System Cover Spiderman: $45 – $70

This is another rare North American release that can be easily found in other regions.
Shop for Spiderman on eBay

Moonwalker Master System Cover Michael Jackson’s Moonwalker: $30 – $50

Yes, another rare North American release.  The passing of the King of Pop also helped drive the value of this release up.  Both the Master System and the Genesis version saw a huge spike in value after MJ’s death, but it’s calmed down since then.
Shop for Michael Jackson’s Moonwalker on eBay

Alex Kidd in Shinobi World Master System Cover Alex Kidd in Shinobi World: $30 – $50

This treasured platformer can be a bit hard to find, but the love of the classic Alex Kidd franchise also keeps the value of this gem up.  If you shop around, you can find it cheaper, but most of the time on eBay it will cost you.
Shop for Alex Kidd in Shinobi World on eBay

Valuable Brazil (Tec-Toy) Releases

Sonic Blast Tec Toy Master System Cover Tec-Toy released a large selection of Master System games in Brazil (where the Master System thrived quite a bit).  Many of them were actually simple ports of Game Gear games.  There are many Tec-Toy releases that are rather hard to find and can bring in some good money, but here are some of the most valuable.

  • Sonic Blast: $80 – $230
  • Legend of Illusion: $100 – $150
  • Virtua Fighter Animation: $80 – $150
  • Mickey’s Ultimate Challenge: $100 – $150
  • X-Men Mojo World: $40 – $130

Shop for Tec Toy Releases on eBay

Valuable Japanese Releases

Great Ice Hockey: $120 – $200

How does a common US game go from being worth $5 to $200+?  The Japanese version was only released through a magazine contest that coupled the title in with a Sega Sports Pad giveaway (before the Sega Sports Pad’s official release in Japan).  No box was ever made for it (we just included a picture.
Shop for Bomber Raid on eBay

Bomber Raid Master System Cover Bomber Raid: $100 – $150

This vertical 2D shooter was the very last Master System game released in Japan.  It was also released in Europe and North America, but this seems to be the most valuable Japanese release.
Shop for Bomber Raid on eBay

Valuable European/PAL Releases

Les Schtroumpfs Autour du Monde: $50 – $80
Masters of Combat: $60 – $80
Buggy Run: $60 – $80

Other US Releases of Value

  • Alf : $30 – $50
  • Strider: $40 – $60
  • Ghouls ‘n Ghosts: $20 – $47
  • Asterix and the Great Rescue: $30 – $50
  • Montezuma’s Revenge Featuring Panama Joe: $35 – $45
  • Ninja Gaiden: $32 – $45
  • Aerial Assault: $20 – $45
  • Ultima Quest of the Avatar: $29 – $42
  • Power Strike: $30  – $40

Other Hard-to-Find US Releases

  • King’s Quest: Quest for the Crown
  • Castle of Illusion (starring Mickey Mouse)
  • Slap Shot
  • Dick Tracy
  • Wonder Boy III: The Dragon’s Trap
  • Super Monaco GP
  • Blade Eagle 3D
  • Paperboy
  • Space Harrier 3D

Other Hard-to-Find Brazil Releases

  • Ariel The Little Mermaid
  • Ecco: The Tides of Time
  • Cyborg Hunter
  • Dynamite Headdy
  • Fire & Ice
  • Buggy Run
  • American Pro Football
  • Asterix and the Secret Mission
  • Alien Storm
  • Battletoads Battlemaniacs

Other Hard-to-Find Japanese Releases

  • Great Ice Hockey
  • The Castle
  • Comical Machine Gun Joe
  • Loretta no Shouzou
  • Undead Line
  • Alex Kidd: BMX Trial
  • Cyborg Hunter
  • Hokuto no Ken
  • Super Racing

Other Hard to Find European Releases

  • Championship Hockey
  • Great Soccer [card]
  • Home Alone
  • T2: The Arcade Game
  • Assault City (Light Phaser Version)
  • Asterix and the Great Rescue
  • Daffy Duck in Hollywood
  • Dr. Robotnik’s Mean Bean Machine
  • Dragon: The Bruce Lee Story
  • The Incredible Hulk
  • Power Strike II
  • Sonic Spinball
  • Ultimate Soccer

32 Comments

Martin says:

Wher is The Smurfs Travel The World also Known As the Smurfs 2 ( Les Schtroumpfs Autour Du Monde) ? its not on list why not??

Sega Lover says:

Actually there are some other blue label re-releases that are even more rare than Out Run. As far as I know Rambo is the rarest and Ghostbusters is also extremely rare. I basically never see these on eBay. Loose cartridges count for collecting since you know it’s the re-release without having the box or manual with it (unlike the games where you need the box with the UPC sticker on the back). Some other blue label re-releases are very common and I see them all the time, such as Reggie Jackson Baseball and California Games.

Bert Page says:

what would be the value of the following:

After Burner
Hang On & Safari Hunt
Choplifter
Great Basketball
Walter Payton Football
Great Football
Great Baseball

Bert Page says:

These games were my son’s he bought years ago and time to let go of them.

Androyd says:

How on Earth do you not include “Quest for the Shaven Yak?!” It was a Brazil-only title and worth $200, all while being extremely rare for the Master System. I was finally able to get a copy of it.

racketboy says:

Thanks for the heads-up! I will keep this one in mind when I update this guide in the future.

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