There's a retro video game bubble inflating. Some copy of Stadium Events sold for an obscene sum. FFVII is the 2nd best selling game on the PS1. It can only be called rare with sarcasm, no matter what the label on it. The only video games that sold more than FFVII are two dozen or so games. I know there's an absurd market around Chrono Trigger, but at least it's a less common game than FFVII (RPGs being more niche back in 1995), still not rare enough to justify the prices people ask for it.
This bubble is inflating and one day it will pop. The same thing happened to comic books. FFVII is Superman #75 (the black polybagged issue where Superman was "killed" by Doomsday). The bubble pops and drives prices down. The advantage video games have over comics is comics made during the speculators era were produced in huge volumes, meaning they're now worth less than cover price even then now (meaning factoring in inflation they're worth even less), just like baseball cards made in that time, whereas these video games were made in finite numbers that weren't driven by speculation (though the infamous ET on Atari, for it to be
made in greater numbers than there were Atari consoles, meant they thought it would be a collectible), so they will see their value reduced after the bubble pops, but it will follow a track similar to Gold/Silver/Bronze Age comics, which have a base value (late 80s- mid 90s comics had a very low base value due to production runs and the hype masked that til the bubble popped).
What does this mean? If you want to sell a game at a higher cost, now's the time to sell. If you're buying, be savvy, be shrewd, a lot of stuff is overpriced and subject to hype. The word rare gets slapped on everything but really only belongs on a small number of games... and Donkey Kong Country games and a few others (though that's a different kind of Rare). Final Fantasy VII is a bit more rare than sliced bread, but that's about it.
On topics like this, I have to do a public service announcement. Gyromite is a game people like to destroy looking for the coveted but elusive Famicom converters. While Gyromites are common now, they are a finite resource and if we go on destroying Gyromites, there will be none left and little R.O.B. will have to play with himself. There is a tried and true way of telling whether that Gyromite cart has a converter or not-
http://www.classicplastic.net/dvgi/editorials-davidnesconvert.html Remember, only you can
prevent forest fires save a Gyromite.