Original unopened Super Mario 64 cartridge sells for $1.5 million at Heritage Auctions in Dallas
(gamingheartscollection.net)
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Right these can't be that rare, surely. They millions of these.
Yep. You can buy the thing sealed in mint condition on eBay for less than 5000$ and it's not particularly rare.
So either: A) Some rich dude has decided a fancy box protector is worth over one million dollars.
B) This is Money Laundering
C) This is WATA and Heritage Auctions shifting items between themselves in an attempt to drive Interest, prestige and Prices for their goofy rating system.
I think it's A. Because it's been "professionally graded", it supposedly is more valuable.
I'm pretty convinced it's C. But I really don't have any evidence...