The cartridge, still in its original packaging, sold to an anonymous bidder.
And the US auctioneer said demand "was extremely high", partly because this particular packaging had been used for a short while only.
The previous record for an auctioned game was $100,000 - for a different copy of Super Mario.
"If any lot in the sale could hit a number like that, it was going to be that one," Heritage Auctions video games director Valarie McLeckie said.
"We knew this would be a strong live session.