Video game collecting is not just a hobby for completionist dorks any longer. More and more gamers are starting to see their favorite pastime as a potential investment, as the popularity of old games means that certain titles are in less and less supply. The older and more obscure a gaming system, the better chance that its more sought-after titles will fetch a high price on Ebay or other auction sites. Older systems like the Sega Dreamcast, Neo Geo and 3DO are favorites for hardcore collectors. Even more common consoles like the trusty old NES have their collectible gems. Last year, an ultra-rare copy of the 1990 Nintendo World Championship cartridge went for $21,000 at auction.
So, what makes a game collectible? A number of factors go in to determining how quickly an old game will increase in value, but probably the most important factor is its rarity. Extremely rare titles, no matter how playable, always fetch astronomical prices. If the number of copies in existence can be counted on one hand, be assured that the title will soon command monacle-popping prices. While ultra-rare games like Nintendo World Championship are out of reach for most collectors, there are other factors at play as well. Anyone who has ever tried to score an old copy of Metal Slug or King of Fighters for the Neo Geo knows this well: Games with huge cult followings and long-term playability always command higher-than-average prices in the used market. Rare import RPGs, arcade shooters, and platformers are among the titles that often fall into this category. Finally, games that are underappreciated standout titles on their respective systems are always near the top of the heap. Alien vs. Predator for the Atari Jaguar was not the rarest game on that system, but it was one of the standouts and therefore commands a higher price than other titles.
Here are 10 games for the PSP that we believe have a high chance of becoming collectors items (if they are not already):
Salamander Portable: A Japanese shmup that saw a paltry release in North America, this game has major collectible potential. Typically side-scrolling shooters like this do well in the long term, because of their dedicated core audience and low initial distribution numbers.

Breath of Fire 3: This game is actually a remake of a very popular Japanese RPG from the original Playstation era. Its gorgeous graphics, innovative gameplay and endearing characters make it one of the best RPGs available on the handheld. The fact that it has so far only been released in European countries ads to its rarity and value.
Innocent Life: A Futuristic Harvest Moon: With less than 100,000 copies in existence and a strong fan base behind the franchise, this PSP exclusive could have serious legs as a collectible. The game broke from earlier Harvest moon titles by providing an actual plot and various challenges in addition to the core agricultural gameplay. Its competent design and futuristic setting make it a standout title on the system.

Metal Slug Anthology: This PSP port will never command the same extreme prices as the arcade originals, but SNK did a fantastic job with the handheld conversion, making this Metal Slug release one of the best compilations available on a modern console. Fans are already paying in excess of $40 for used copies of this title.
Tenchu Time of the Assassins: The Tenchu series is a ninja stealth game from Japan that is beginning to gain worldwide popularity. This PSP version was developed exclusively for the handheld, and suffers from some flaws such as mediocre controls and graphics. However, its exclusivity and high rarity outside of Japan means that new copies regularly fetch more than $50.

Death Jr. Limited Edition: What makes this title special is not only the artificial rarity of its “limited Edition” status. Death Jr. is also one of the most interesting exclusive games available for the PSP, making it a standout example for collectors. The limited Edition set came with a special foil cover case and short graphic comic book.
Aedis Elcipse: Generation of Chaos: This is a very rare JRPG published in North America by NIS. Small boutique publishers like NIS and Atlus are known for both the quality of their games and the limited availability of their titles outside of Japan. Generation of Chaos is no exception, and barring a reprint, this game is likely to remain very rare.
B-Boy: This promising but quirky urban dance simulator gained a small following in Europe and Australia, but barely sold in North America. Its poor sales and extreme rarity could contribute to collectible status down the road.

Metal Gear Solid: Digital Graphic Novel – Before Portable Ops arrived, fans were hungry for any game with the Metal Gear name attached to it. The Digital Graphic Novel was an early attempt to cash in on the popularity of the franchise during this game vacuum. The title did well in Japan, but sold much fewer numbers here in North America. Because of its rarity and connection to a major gaming franchise, this UMD could rapidly become a collector’s item.
MotoGP: We never did get the promised Gran Turismo on PSP, even though the Polyphony Digital team keeps promising... something. As a result, the realistic driving simulation genre has been underserved on the PSP. In 2006 Namco Bandai stepped into the fray with their two-wheeled racing simulator, MotoGP. Despite being a very competent title, the game didn’t sell very well in North America or Europe, and was printed in very limited numbers. Unless Namco issues a re-print of this title, expect it to be one of the rarest of PSP racing games. New copies regularly go for $80 on Ebay.

[Update: Thanks to several readers who pointed out that MotoGP is actually a Namco game and that Polyphony digital has so far produced NOTHING on the PSP. Maybe that elusive Gran Turismo prototype UMD will end up being the holy grail of PSP collectibles?]
[Update #2: Somebody asked a geat question, which is "What region is best for collecting games that have been released in different countries?" Our answer is that it depends, but usually the region with the fewest number of copies in existence is a sure bet. Japanese games that have been issued in North America but sold poorly are among the best titles to collect. All of the titles listed in the above article are rare in North America, but might be readily available in other places.]
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