In ANTIQUE OR GHOST?, you're an antique dealer who is trying to finagle the most valuable collection of goods, both by claiming valuable items and by manipulating the market to increase the value of what you own.

At the start of the game, each player receives a random fate card (the "GHOST" in the title) that indicates one type of artifact that won't be worth anything at game's end. Each player starts with a mystery face-down artifact in their collection as well as a hand of artifact cards and two artifact cards in their window as products that can be acquired. A market card for each of the six types of artifacts is laid out, with the order of these cards determining their value at the end of the game.

On a turn, you refill your hand and refill your window, then you pick a product that someone has displayed in their window. The owner of that product has two choices:

• Let you take that product into your permanent collection, while they use the power on that card, or
• Take the card into their own collection, while you then get to use that card's power.

Each type of artifact has a different power, such as increasing your hand size, changing the order of cards on the market, and locking a card's value on the market.

Once you have five cards in your collection, you receive one of the completion chips and are now out of the game. Once all players have completed their collections, you reveal fate cards to see which items are worthless, then sum the value of your collection based on the antiques' value on the market.