It’s a tortured title, yes, but the philosophy is sound.
We’ve got a wild situation here with the current Secret Lair pace. Last year, there was a whole series of bangers from the Secret Lair folks, and this year, we’re off to a more tepid start. Several days since it became available, and none of the Teenage Mutant Ninja Turtle lairs are even low stock.
What does this mean for those Lairs, and what does this mean for the SLD genre? Let’s discuss.
First of all, the big thing, the overarching concept, the idea that matters above all else: Card choice is still the most important thing in a Secret Lair. Other factors can help, and we’ll get to those, but really, it comes down to the cards themselves. The folks who are aware of Secret Lair as a website/buying platform are mostly savvy to value and demand, and in this case, we’ve sussed out that the value mostly isn’t there. These are neat, and I certainly got some personal cards to appease my inner twelve-year-old, but highly collectible these are not.
Not all reprints are the same. Master of Ceremonies, Species Specialist are the newest examples and illustrate a concept that makes a lot of sense to you, if you’ve bothered to find and read this article on this site: High price is not the same as high demand, and many SLs highlight this. A lot of cards from Commander sets have a surprising price, but only because you had to get them from a deck or they were mixed in with other tough pulls from Collector Boosters. There’s also a subset of cards whose only foils were from the promo packs, and that is pure scarcity, not power or demand. Life Insurance is one card that’s an example of this, with foils being more than 10x the price of either nonfoil copy.
As far as we can tell, Wizards isn’t making more copies of each Secret Lair. There’s some datamining of the SL website that indicates what quantity of sales triggers a ‘Low Stock’ warning, and that’s the only sort of data we have on the relative numbers of Lairs out there. I’m not convinced on the numbers, but Avatar’s drops and more recent drops all experiencing the same slow trickle of demand has me leaning to think that the quantities are similar.
Related, though, is that I completely believe Wizards cranked the overall quantity up from last year. The line must go up, and Secret Lairs are an easy place to make 5-10% more cards and sell them to consumers, and the margin on these cards is pretty damn disgusting. I’ll be interested to see if these more mediocre Lairs are the new standard, or perhaps they are going to slow down the pace a little.
So what happens if you bought these Lairs and now you’re looking at them while they laugh at you? Well, you can sell them around $40, and depending on your taxes, fees, and shipping, you’re going to lose $10-$20 overall. I’m amazed at people who sell Lairs at that cost, considering what they are losing. I recommend against selling at those prices, and if you’re that desperate for cash, you likely shouldn’t have bought that Lair, or any Lair, in the first place.
Your best bet is its own truism: On a long enough timeline, everything gets profitable. Most Lairs creep upwards in price, as time and collectors take their toll. Chucky, NOT A WOLF, even the Foil Full-Text Lands are up in the $70 range. There’s no guarantee about age, though. A 2020 Women’s Day lair is still just $80, but a Lair from the same year called The Path Not Traveled is selling on TCGPlayer for under $30. Demand, even small demand, adds up over time.
There’s another factor to consider: When Lairs don’t sell out, that means there isn’t a lot of stock online. This can cause singles to go up in price, to the point that the Lair becomes awfully tempting. An excellent example of this is the still-available Dreaming Darkly. The Guardian Project at Dump Week was under $10 but now it’s close to $20. The Archmage is $14 in foil, and the Soulherder gets you over the top. The quantities available are quite low, with under 30 vendors for each card (Project has 13!) and almost no walls of copies to be had.
I’m annoyed that I missed Dump Week on those Projects, as I knew that was the card to watch, but the $40 is still a fine deal.
Currently, 48 out of 96 individual Lairs are currently sold out – perfectly half, though that number is off by a bit because of the Prints of Darkness Lairs that were sold at different price points. There’s a wide range left, from Furby to a couple of Marvel lairs and a scattering of Fallout and D&D Lairs. I expect that sometime soon, Wizards will purge a bunch of the older Lairs from the site, as they do every so often, but they aren’t in a hurry here. All it takes is someone adding an extra Lair here or there to increase their profits just a little more. They don’t need Lairs to sell out immediately, they just need them to sell eventually. They don’t care if sellers on TCGPlayer or eBay undercut them, so long as the originals move, slowly but surely.
Finally, let’s talk about the ones that aren’t sold out which I think are worth it and why.
A Lot to Learn (foil and nonfoil) – As previously stated, the value of Serra Ascendant is high, and this should eventually recover nicely.
Trick or Treat (foil and nonfoil) – Already profitable given the cards inside it, so worth buying.
The Last Ronin (foil and nonfoil) – I wrote about it before, but the Misstep alone will make this worth it over time.
Greet the Dog (foil and nonfoil) – This would be the first cat or dog themed Lair to miss, which seems pretty unlikely to me.
Cliff (@WordOfCommander at Twitter and BlueSky) has been writing for MTGPrice since 2013, and is an eager Commander player, Draft enthusiast, and Cube fanatic. A high school science teacher by day, he’s also the co-host of the MTG Fast Finance podcast. If you’re ever at an event and you see a giant flashing ‘CUBE DRAFT’ sign, go over, say hi, and be ready to draft.

















