Episode 53: Top 5 and Other Craziness with Steve Johnson

TL;DR

Veteran collector Steve Johnson discusses 14 years of pinball acquisition, restoration, and market price evolution.

Summary

Key Claims

• Steve paid approximately $2,500 for Tales of the Arabian Nights in 2007 after trading an arcade game

  high confidence · Steve recounts purchasing Tales of the Arabian Nights for like $2,500 after everything was said and done in 2007

• Steve purchased a Wizard of Oz from Jersey Jack Pinball in May 2014 after discovering it at the 1-Up arcade with his family

  high confidence · This was...May of 2014. So I found a guy, and he's like, yeah, my spot is going to become available probably within the next month

• Steve has owned as many as 35-36 pinball machines in his basement collection before downsizing

  high confidence · I think at one point I had 35 or 36 pinball machines in my basement

• Pinball machine prices have increased substantially; games like Raven that cost ~$500 two years ago now sell for $1,500-$1,700

  high confidence · what was it, two years ago? It was like $500, you know, hopefully get it out of your house...now it doesn't matter. And $1,500, $1,600 is that bottom price

• A Batman Data East Steve purchased has stealth clear coat that is flaking off the artwork

  high confidence · I brought Batman in expecting to clean it up and took the sling off and the paint just started flaking off...the stealth clear coat on it, and the stealth, I think, stands for non-existent

• Steve's most-played games are Metallica, Tron, Pirates of the Caribbean, The Wizard of Oz, and Guardians of the Galaxy

  high confidence · the games that I play the most are probably Metallica, Tron, Pirates of the Caribbean, and The Wizard of Oz. And Guardians of the Galaxy is up there as well

• Stern's Jurassic Park Premium Edition features a moving T-Rex head that is superior to the Pro version

  high confidence · I played the Premium Edition, and the moving T-Rex head just is phenomenal...If you're going to own one, though, I think the Premium Edition is the way to go on that

• Monster Bash was priced at $4,500 at a local pinball show around 2006, which Steve considered expensive at the time

Notable Quotes

• “For about the last month and a half, it's been kind of sad. Well, I've been playing some pinball, been buying a couple machines, been homeschooling my kids, which is a blast, and trying to watch my eight-month-old daughter as well.”

  Steve Johnson @ ~5:00 — Sets context for Steve's life circumstances and pinball hobby integration with family responsibilities

• “I think at one point I had 35 or 36 pinball machines in my basement...the family decided they wanted to put the pool table back up, and so I had to drop the collection down”

  Steve Johnson @ ~45:00 — Demonstrates the scale of Steve's collecting hobby and the compromise required with family dynamics

• “I bought it from JJ at Game Exchange...I think we ended up buying Tales of the Arabian Nights in 2007 for like $2,500 after everything was said and done”

  Steve Johnson @ ~50:00 — Marks the origin of Steve's serious pinball collecting journey and establishes historical pricing baseline

• “The Wizard of Oz pinball machine is just absolutely incredible...Why don't you find one and buy it for yourself?”

  Steve Johnson (wife) @ ~55:00 — Catalyzes Steve's expansion into premium Jersey Jack machines and demonstrates spousal support for the hobby

• “For $20 worth of parts, I got it working, and then I completely overhauled or serviced it, put LEDs in it, and showed her, and she's like, okay, if you want to do this as a hobby, you can, because you can fix it.”

  Steve Johnson @ ~60:00 — Describes the pivotal moment that launched Steve's restoration and collecting hobby through demonstrating technical capability

• “I used to listen to the guys who've been in it since the 90s complaining in the early 2011, 2012 about what the prices were...and now, you know, seven, eight years later, I'm going, well, that game shouldn't cost that much.”

  Steve Johnson @ ~75:00 — Reflects on evolving perspective on pricing as a long-term collector and generational comparison

• “You just can't get anything that's working anymore for less than $1,500...it's bottom of the barrel pricing”

Entities

Signals

• ?

  collector_signal: Steve's documented collecting trajectory shows evolution from casual player (2007) to serious collector (2014 onward) with peak inventory of 35-36 machines before downsizing for family space needs

  high · Started with Tales of the Arabian Nights and Revenge from Mars, expanded aggressively post-2014 Wizard of Oz acquisition, maintained detailed Excel spreadsheet tracking expenses with spousal oversight

• $

  market_signal: Secondary market pricing floor for solid-state machines has risen dramatically; games previously $500-1,000 now command $1,500-1,700 minimum; Monster Bash ($4,500 in 2006) would be proportionally cheaper today

  high · Raven: $500 two years ago → $1,600-1,700 now; Axl Rose: $2,500-3,200 range; non-working Meteor: $1,500; Steve notes 'you just can't get anything that's working anymore for less than $1,500'

• ?

  product_concern: Batman Data East machines experiencing clear coat degradation and paint flaking; described as 'stealth' clear coat with minimal protection

  high · Steve's recently acquired Batman Data East: 'took the sling off and the paint just started flaking off...the stealth clear coat on it, and the stealth, I think, stands for non-existent'

• ?

  community_signal: Secondary market dealer behavior pattern: low-cost acquisition + minimal maintenance + inflated listing prices; established collectors recognize and avoid unreliable sellers

  high · Drew and Steve discuss dealers who 'buy games, they won't do anything...and then they'll list them for top dollar'; noting overstated condition claims ('completely rebuilt or restored' meaning functional, not restored)

• ?