Grinder Finance – Eternal Masters part 2 : The Masters Quandry

ema class of 2016

Ladies and Gentlemen, let’s welcome the Eternal Masters class of 2016.  Otherwise known as the 21 cards currently pre-ordering for at least the cost of an Eternal Masters booster pack (at MSRP).  That’s right guys, of the 53 rares and 15 mythics, only 10 rares and 11 mythics are worth at least the cost of a pack.  But how does this compare to a normal set?  Currently (at retail prices) there are 24 cards in Shadows over Innistrad worth at least the cost of a booster (which for this exercise I assume is $3).  Shadows over Innistrad is a little weird with it’s flip cards but the number of break even cards is roughly the same.  What’s the problem then?  Finding Eternal Masters boosters at MSRP.  It is suggested, after all.

The Masters Quandry

Unfortunately (or fortunately, depending on how you look at it) Wizards of the Coast, a Hasbro subsidiary, can’t reprint expensive cards into oblivion.  It gets brought up often, but, Wizards of the Coast, a non-Hasbro subsidiary, did that exactly once.  Chronicles was a big problem and they are slowly trying to creep toward a middle ground.  This set will be a lot like Modern Masters and kill the price of a few casual cards but otherwise not make a dent in the prices of decks it is supposed to help.

The other issue with Masters sets is the need to “hold things back” for future Masters sets.  Modern Masters 2015 was generally perceived as underwhelming by the majority of people although it was more widely available at MSRP.  Without another round of reprints from the first set it was difficult to find enough new cards to print.  At some point, if they find it too difficult to reduce the over lap in Masters sets we might just get full set reprints (ie Modern Masters released in 2019).

These issues all culminate into a rather complex question: “How do we satisfy everyone?” I’m not sure there is an answer.

The Future of Eternal Masters

Well some of these cards will likely fluctuate up and down but there are some I am sure will see a sharp decline going into the end of the year.

shardless agentbaleful strixmaelstrom wanderer

All three of these cards made their debut in Planechase 2012.  Coincidentally, Planechase Anthology has already been announced to be including the Planechase 2012 decks and all of the planes.  Baleful Strix has already been reprinted in one supplementary product so it’s already not very expensive but Shardless Agent and Maelstrom Wanderer will likely quickly fall from their $10 pre-order price.  In fact, they may already be lower than $10 by the time this article is out.

Commander

The great Commander resource website, EDHrec.com, was able to get me some data about the playability of Eternal Masters cards. Here is a dump of the frequency of cards from Eternal Masters in the decklists they parse.  Unsurprisingly, Swords to Plowshares, Counterspell, and Sensei’s Divining Top are 3 of the most played cards in their study.  They’re all extremely flexible, cheap, and powerful.  I woudn’t be worried about the prices of any of those changing much (although foils might get a little cheaper with more copies).  The biggest loser I can see on this list is Regal Force.  I expect this card’s price to take a bath similar to Adarkar Valkyrie.  Once a nearly $10 card based mostly on rarity the tiny print run has brought Adarkar Valkyrie into basically bulk rare territory.

Commander players tend to be more casual and even though you don’t need to pay for the cards you put on your decklists online, many people leave out prohibitively expensive cards in large numbers.  As a result I believe that we will not see much of a dip in the price of Mana Crypt.  It’s functionally very similar to Sol Ring (the most popular card in Commander – beating the next card, Command Tower, by about 30%) so the appeal to own a copy or five for your Commander decks is pretty high.  As a result, if the price drops any significant amount it will cross a lot of player’s thresholds into “purchasable.”  Mana Crypt started pre-order pricing on StarCity Games for $50.  As of this writing, it’s sold out at $90 which is just $30 less than the original printing.  The original printing is also sold out so it’s unlikely the demand for these can be satisfied this time.  I’m expecting Mana Crypt to follow Tarmogoyf as the chase mythic in all Eternal Masters sets.
spirit_awakening_riley2

Foils

Is it a little misleading that I’ve intentionally ignored the foil slot in calculating cards you can open in a booster pack to pay for it?  Maybe a little.  However, as of this writing, no stores have posted pre-order prices for foils.  It’s possible they don’t know the math exactly on how little they plan to open for pre-orders or they just don’t want to be the first one to blink.  The first store to set the prices of foils will be planting their flag in the ground and seeing if it sticks.  Some of these foils will be uncharted territory and it’s possible they could be leaving a lot of money on the table by being the first to sell out.  Let’s do a little recap on first time foils.

Technically first time foils (for completeness sake)

emmessi tome field of souls humble monk idealist giant tortoisephantom monster roots tidal wave wake of vultures

These cards all have original pack printings from Urza’s Saga or earlier.  There were no foil cards in those packs yet.  It’s unlikely any of these cards will light up any price graphs.

Expensive first time foils

ashnod's altar tooth and claw worn powerstoneperegrine drakepyroblasthydroblastbaleful strixcontrol magicgamblemalicious afflictionpyrokinesistoxic delugeunexpectedly absentwinter orb

Originally I had separated these into different groups.  One group of Commander foils, one group of Pauper foils, one group of Vintage and Legacy foils, one group of Cube foils, etc.  But I realized that breaking them down that way implies that there is no overlap and that’s just not true.  These first time foils will be worth some order of magnitude more than than their non-foil counter part.  Despite being an uncommon, I think Pyroblast foils will likely command the highest price tag on this list.

Missing Link

So as I stated earlier, Wizards of the Coast, a Hasbro subsidiary, needs to hold some of the best cards for the next set.  What are the biggest missing cards from this set?  Well one obvious one is damna…

port

As many people have already become well aware, Rishadan Port was left off the reprint list this time.  I don’t often talk about Magic Online but this miss hurts MTGO the most.  Rishadan Port was creeping down to about 150 tickets (1 ticket is about $1) while people feared a reprint but immediately shot up 50 tickets once it was announced to not be in the set.   There is some incentive not to reprint Port again so quickly after it was just announced as a Judge foil but this one stings.  Rishadan Port is part of one of the few Legacy decks that doesn’t use any reserve list cards (Death and Taxes).  This card was likely selected to be held back for another Eternal Masters set in 2 years.

jitte

Umezawa’s Jitte is one of the best equipment ever printed and one of the few cards from Betrayer’s of Kamigawa  worth talking about.  This card is not quite as pricey as a lot of things included in Eternal Masters but it’s a really hard card to reprint in a draftable set.  Jitte is frequently seen as a one-man army type card that would almost assuredly be a mythic these days.  Every time we get a set that can reprint Jitte and is evades another printing there is a possibility the price goes up.  Umezawa’s Jitte has a GP Promo version but this was before full year promos.  As a result only 6 months of Umezawa’s Jitte promos means there are not that many to go around.  It’s only saving grace is you don’t often want more than one of this legendary equipment in your Legacy deck.

flusterstorm

Flusterstorm is a card that was “printed” many times online but only twice in paper.  Currently your choices for Flusterstorms in paper are the original Commander printing or judge foils.  At a minimum of almost $60, it’s fair to say Flusterstorm should be on Wizard’s radar for a reprint.  It’s possible that it still is on track to get reprinted this year.  Conspiracy: Take the Crown is going to be released in two short months and could include some Legacy and Vintage reprints with multiplayer applicability. Flusterstorm’s Storm ability plays nicely with a 4 player game (as it was originally intended as a Commander counter spell).  I’m not saying it’s likely, but its possible we get Flusterstorm in Conspiracy: Take the Crown.

show and tell

Show and Tell is a wonderful card.  It’s wonderfully pricey and part of two Legacy decks that don’t lean heavily on the reserve list (Sneak and Show and Reanimator).  It’s also the card that I am most surprised is missing.  If there is anything they could leave out of Eternal Masters to be in Conspiracy: Take the Crown it’s Show and Tell.  That card is easy to put into a draft set because you can control the worst thing put into play.  It also plays pretty nicely with a multiplayer game.  I just hope if it get’s reprinted they use the Urza’s Saga art.  Nothing against Zack Stella, but this one is so much cuter.

counterbalance lotus petal

These last two are not terribly expensive, yet.  I would have expected them to get a reprint to help ease the price while it’s not high.  Wizards has shown reluctance to reprint very expensive cards close to their original rarity especially if they can be detrimental to a draft format.  I’m guessing when we see a Lotus Petal reprint it won’t be at common.

aether vial chalice of the void damnationSnapcaster

Some cards are notably missing from Eternal Masters but I would never expect them to print in an Eternal set.  Aether Vial, Chalice of the Void, Damnation, and Snapcaster Mage are all Modern cards first and foremost.  If we get those in a Masters set, it will be Modern Masters not Eternal Masters.  I know every set goes by and people wonder if we’ll ever get Damnation again.  I’m sure it will come eventually and it will be in a Modern Masters set.

Back to your regularly scheduled programming

Eldritch Moon

We just got the full spoiler for Eternal Masters and we’re about to hit the ground running with Eldritch Moon spoilers.  Generally for Standard sets, spoilers last for two weeks and end the week before the pre-release.  Based on this, Eldritch Moon spoilers should start in about 3 weeks, on June 27th. Eternal Masters will have been released for 17 days before spoilers for the next set start.  I’m expecting some Magic fatigue in the worst kind of way.

Shadows over Innistrad logo

Have you been paying attention to the card prices for Shadows over Innistrad?  They’re reaching near time lows.  When the spoilers start for Eldritch Moon people will begin to buy more as they get re-excited for Standard.  If you’ve been waiting for some prices to go down before they rise again you’re nearing the best times until the late summer.

PROTRADER: Price Trajectory for Key EMA Reprints

The full spoiler for Eternal Masters is out and the moment of truth is upon us.  There’s one thing and one thing only on my mind regarding this set: how will it impact prices?  Whether or not this is a balanced set, a good draft format, good EV, or fun to play is irrelevant to me.  As an MTG finance person first and player second, my natural response to the set is one of financial analysis.

There are two analyses that can be conducted now that the full set is spoiled: an intra-set analysis and an extra-set analysis.  That is, what will cards in the set do price-wise and what will cards outside the set do price-wise.  These are two very different perspectives that each merit their own dedicated column.  This week I’m going to focus on the intra-set analysis.

Basis for Prediction

Before I begin assessing individual cards, first I want to briefly summarize my approach.  First and foremost I need to assume a print run – given the lack of Grand Prix to celebrate the release of Eternal Masters, I don’t believe the print run will be as large as Modern Masters 2015.  But based on the fact that prices didn’t tank after MMA and MM2015, I speculate that Wizards of the Coast would want to err on printing more packs than less simply because it will generate more sales.  Therefore, I’m going to assume a print run of MM2015 and use MM2015 pricing to predict magnitude of price change.  If nothing else, the MM2015 assumption will allow for a “worst case” prediction.

Next, I’m going to leverage MM2015 reprints as a way to predict the direction of EMA prices.  The closer a parallel exists, the easier it will be to predict price movement.  A card’s utility in different formats will most certainly carry heavy weight in this comparison.  A strictly casual card must be compared with another strictly casual card in as many cases as possible.  This is especially true when considering the ubiquity of a card in a respective format as well as the quantity of copies played in decks that use said card.  All of this will become clear once I begin my analysis so rather than dribble on here, let’s jump in!

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MTG Fast Finance: Episode 17

by Travis Allen (@wizardbumpin) & James Chillcott (@mtgcritic)

MTG Fast Finance is a weekly podcast that tries to break down the flurry of financial activity in the world of Magic: The Gathering into a fast, fun and useful thirty minute format. Follow along with our seasoned hosts as they walk you through this week’s big price movements, their picks of the week, metagame analysis and a rotating weekly topic.

Show Notes: Feb 26th

Segment 1: Top Movers of the Week

Mesmeric Orb">Mesmeric Orb (Mirrodin)
Start: $7.00
Finish: $11.50
Gain: +$4.50 (+65%)

Golgari Grave-Troll">Golgari Grave-Troll (Ravnica)
Start: $5.00
Finish: $9.00
Gain: +$4.00 (+80%)

Champion of the Parish">Champion of the Parish Foil (Innistrad)
Start: $5.00
Finish: $10.00
Gain: +$5.00 (+100%)

Elvish Champion Foil (7th Edition)
Start: $15.00
Finish: $30.00
Gain: +$15.00 (+100%)

Grafdigger’s Cage">Grafdigger’s Cage (Dark Ascension)
Start: $4.50
Finish: $10.00
Gain: +$5.50 (+125%)

Thousand-Year Elixir">Thousand-Year Elixir Foil (Lorwyn)
Start: $22.00
Finish: $15.00
Gain: +$12.00 (+400%)

Shelldock Isle">Shelldock Isle (Lorwyn)
Start: $3.00
Finish: $9.00
Gain: +$6.00 (+200%)

Dreadbore">Dreadbore (Return to Ravnica)
Start: $4.00
Finish: $14.00
Gain: +$10.00 (+250%)

Steamflogger Boss Foil (Future Sight)
Start: $.75
Finish: $5.00
Gain: +$4.25 (+566%)

Belbe’s Portal Foil (Nemesis)
Start: $4.00
Finish: $30.00
Gain: +$26.00 (+650%)

Segment 2: Cards to Watch

James Picks:

  1. Dragon Arch">Dragon ArchApocalypse, Confidence Level 7: $1.75 to $6+ (+250%, 0-6 months)
  2. Oath of Nissa, Foil, Oath of the Gatewatch, Confidence Level 7: $6 to $12+ (+100%, 6-12 months)
  3. Master of Waves">Master of WavesTheros, Confidence Level 8: $4 to $10 (150%, 6-12 months)

Travis Picks:

  1. Gavony Township">Gavony Township, Innistrad, Confidence Level 6: $5 to $12 (+140%, 3-6 months)
  2. Void Winnower">Void Winnower, Battle for Zendikar, Confidence Level 7: $2 to $8 (+300%, 6-12+ months)
  3. Chord of Calling">Chord of Calling, Magic 2015, Confidence Level 8: $10 to $20 (+100%, 12+ months)

Disclosure: Travis and James may own speculative copies of the above cards.

Segment 3: Metagame Week in Review

Last weekend, players jammed thousands of games of Modern across two simultaneous GPs in Charlotte and Los Angeles. What showed up and what didn’t? Are there financial opportunities to be found?

Segment 4: Topic of the Week – Eternal Masters Spoilers

Eternal Masters spoilers wrapped up Friday morning, and Magic players worldwide are excited for cards that have been reprinted for the first time in over a decade. What didn’t show up is just as important as what did though. Travis and James talk sealed boxes, singles, what we’re missing, future reprints, and more.

James Chillcott is the CEO of ShelfLife.net, The Future of Collecting, Senior Partner at Advoca, a designer, adventurer, toy fanatic and an avid Magic player and collector since 1994.

PROTRADER: EMA Winners and Losers

So we are still waiting on some spoilers to roll in, and I’m sure that there will be a few more winners and losers worth discussing once we have the full 249 revealed. I’m confident that we have enough so far that I can make a full length article out of it, and that makes me very very very very very very very very very very very very very very very very very very very very very *checks word count* very very very very very very… very happy.

WINNER: MERFOLK! Merfolk was actually the first big winner with this set, because the first two cards spoiled (Force of Will and Wasteland) are THE financial gatekeepers to playing this deck in Legacy. Merfolk is not the best deck in Legacy, but only because there isn’t a best deck in Legacy. Merfolk is a strong, linear archetype that doesn’t require Alpha duals, is able to win large tournaments, and largely comprised of Modern cards. The difference between ‘optimized’ and ‘budget’ lists has always been the inclusion of Wasteland and Force of Will (moreso the latter than the former due to the need for UU consistently), but any permutation seems to have its advocates. Merfolk was one of the more popular decks at the beginning of the Legacy boom a few years back, and it has only gotten better tools since (Master of the Pearl Trident is much better than Coralhelm Commander). Daze is another big piece for the deck, although Wasteland, Mutavault AND Cavern of Souls probably encourage shaving copies down. Fish just won a Modern GP, so its possible that there are people scrambling to build this for that lesser format, but know that this is a known player in Legacy, and probably one of the strongest decks that is not difficult to cobble together. I expect representation to be high for the next year or so, or however long it takes for EMA to totally dry up.

Legacy events will be like Jimmy Buffett concerts- fins to the left, fins to the right.
Legacy events will be like Jimmy Buffett concerts- fins to the left, fins to the right.

LOSERS: THE PEOPLE GETTING HYMNED IN EMA LIMITED! Oof, good luck. There’s a reason why people still stand by the old adage of “Hymn, Hymn, I win”. And now it looks like they have Sinkhole to back it up! EMA block constructed looks like one of the most fun formats, maybe that should be the new Legacy? I’m in if y’all are.

WINNER: DREDGE! So Dredge itself is not an archetype in EMA, but Ichorid, Cabal Therapy, and some lesser/formerly played pieces (Chrome Mox, Entomb) are all getting reprinted. Expect Golgari Grave-Troll to continue disappearing off shelves (as we discussed here previously!) and keep your eyes peeled for that Izzet v Golgari box.

LOSERS: EVERYONE BUT DREDGE! Look, I am the biggest supporter of Life From the Loam that there is, but I’m not going to call myself a fan of the Dredge deck. I don’t think we will ever see this archetype hit quite the same saturation numbers as Merfolk (because it is harder to play and easier to hate), but I do worry that on those weekends where it’s Dredge’s tournament to lose that we will see more than the one player that ran hot to get to Top 8. If there is ever a Legacy Top 8 with three or more Dredge lists, the world will become a foul and miserable place.

"But Loam's freedom came at a price - him."
“But Loam’s freedom came at a price – him.”

WINNERS: POPULAR CARDS WITH LOW SUPPLY: A lot of the cards that we are getting reprinted come from Magic’s very distant past, and are therefore bound by the scarcity issues that come with wanting something that hasn’t been made in nearly twenty years. This also includes more recent, but otherwise limited release cards such as Shardless Agent. Having new life entering the market is going to allow people more opportunity to snag what they want, while simultaneously buoying price on high demand in the short term. It is still possible that many of these cards increase in price when all is said and done, which I think we now all know as the “Tarmogoyf Principle”. The interesting thing is going to see how it plays out across rarity and format (Legacy vs Vintage). Sinkhole is a popular card in the Mono Black decks that lots of new Legacy players gravitate towards. Even though the card was originally a COMMON, it has since been (perhaps rightly) upgraded to rare. The more Sinkholes there are, the more people will sleeve up Dark Rituals, Hymns, and whatever the 2016 version of Phyrexian Negator is. Water finds its level.

Prices on cards you and everybody else like will be in outer space in two years. Buy now!
Prices on cards you and everybody else like will be in outer space in two years. Buy now!

LOSERS: NARROW CARDS WITH LOW SUPPLY! Mana Crypt at Mythic means that we won’t see so many that supply skyrockets, but this is a card only played as a 1x in Vintage (and possibly in Commander? Is it banned there also?)- how much demand is there? Mana Crypt and an Island is still a turn 1 Tinker, which is a good opening turn in Vintage, but how many people will willingly start to play without Power? Water finds its level, and I think that cards like Crypt that have been high because there are so few of them will drop when supply tiptoes past demand. Say we (the royal ‘we’) get 10,000 new Mana Crypts (a number that I totally made up)- are 10,000 people one Mana Crypt away from playing Vintage? Maybe a few are, but the rest of those are going to get sloshed around vendor tables for a while.

WINNERS: ART LOVERS! This may be the most aesthetically pleasing set in Magic’s history. WotC commissioned a very high percentage of new pieces for this set (partially, I assume, because they had lost the rights to many older artworks1), and they are all stunning. The new Winter Orb is probably my personal favorite, just because it captures the eerieness that the card has always had, while simultaneously looking like an album cover for some sort of sweet symphonic metal band.

"WINTER ORB", the new album by MYTHRIL PROPHECY.
“WINTER ORB”, the new album by MYTHRIL PROPHECY.

LOSERS: ANYONE WHO OPENS A BRAGO! I can handle a lot, and I didn’t mind that a lot of cards got rarity upshifts due to Limited, but seeing THIS card in THIS set really irked me. Blue White blink could be the best draft deck in the format, and I’m still going to be miserable taking this card. It’s a good thing he’s already dead, because I’d kill him myself.

WINNER: ANYONE WHO DRAFTS BLACK! Windmill slam that Braids, even if the foil is good. This color is insanely deep at the middle rarities, and has some pretty strong commons also.

LOSER: ME, FOR CALLING BERSERK! Wow, this was a real shocker. I thought Berserk was as good as in, and it looks like its not. This just makes the call for Fish decks look even better, as trying to respect an optimal Infect list requires some resource commitment, and now they don’t have to do as much. Buy your Lords of Atlantis!

WINNERS: PAUPER PLAYERS! Now, Pauper players are already awesome, super-smart, and overall great people, but they got some major rewards with EMA. There are going to be some commons in this set with extremely high foil multipliers (I’m looking at you, Man-O-War!), even though they aren’t “traditional” staples. Let’s close out today with a list of foil targets, prioritizing high multipliers and low visibility.

  • Yavimaya Enchantress: First time at common, basically an archetype unto herself (and GW Enchantments is already kind of a thing in Pauper!)
  • Nimble Mongoose: Sweet art, foils are currently insane- this is going to be respectably expensive.
  • Emperor Crocodile: Once a rare, now a common. This is more of a foil spec, but definitely a long-shot. Maybe one of the green stompy decks wants this?
  • Duplicant: Okay, not a common, but Duplicant has only had (compared to today’s standard) low printings, so foils always garner a high margin. This art is not the worst that the card has had, and the original is not necessarily iconic. I don’t this printing will cause foils or non-foils to bottom out, but they will briefly be cheaper.
  • Mistral Charger/Elite Vanguard: There are a lot of people excited about these? I don’t know how good either one is, but I wanted to pass the word along.
  • Rally the Peasants: This was an uncommon before, right? Makes the WR decks a lot better if it was.
  • Swords to Plowshares: Not too many opportunities to get this card in foil, so always take the chance when you can.
  • Peregrine Drake: Cloud of Faeries was banned in Pauper, and I think this was only ever an uncommon, so maybe it makes that deck better? Tough call, because the curve was much lower originally.
  • Man-O’-War: Still played in a large percentage of cubes, never previously available in foil. Make up a price, and someone will probably pay it.
  • Innocent Blood: Second time this card has been available in foil, and it’s a VERY popular card.
  • Night’s Whisper: First time that this art has been available in foil, and it’s also the first time the card has been printed at common.
  • Prowling Pangolin: Originally an uncommon, this could sneak its way into some of the black pauper decks.
  • Baleful Strix: Has this card ever been available in foil? I don’t think it has.
  • Beetleback Chief: I know this card was never available in foil, because I would own 100 of them.
  • Crater Hellion: Never before available in foil.

That’s it for now, have fun poring through EMA, and I’ll see you next week!

Best,

Ross

1This sounds like a job for VorthosMike!