They are depreciating assets for the most part. Once people lower their expectations pins will move.
I think that goes against basically everything we have seen over the last 10+ years. Outside of a small gap around 1999 to 2007, almost every desirable Williams pinball machine has gone up in value, and in some cases dramatically. IJ, TZ, TAF, etc. were all games that sold for under $3K new, and today they are worth multiples of that.
So no, in most cases they are not depreciating assets. A depreciating asset is a vehicle. You buy it, it loses value, and eventually it trends toward zero. That is not what has happened with pinball. Good titles from established manufacturers have historically held value or appreciated. The exceptions are usually speculative purchases, unproven companies, or odd platforms that never really caught on.
What we are seeing right now is a market correction after a huge boom. There are more games available, more people selling, and some expectations are probably unrealistic. Eventually the market will sort out what is a desirable title and what is not. Good games will hold up, weaker games will move down.
Also, I think using the Canadian market as the benchmark for the entire pinball market is not accurate. Canada is currently dealing with economic pressure, a weak currency, and we are a very small portion of the overall market. Most games are made and sold in the US. Our local transactions are a tiny sample size and do not really represent the broader market.
A good title will always find a buyer, especially an all times classic like this, there will always be a buyer. Last, we are not isolated from the rest of the market. If something is desirable and priced correctly, it will move, whether that buyer is here or across the border, which is most cases, is very close to us.