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.
Disclosure: Cliff and James own some of the cards on their pick list.
Segment 3: Metagame Week in Review
At GP Columbus and Prague, Legacy was the format in the spotlight this week. Infect took down Columbus, while Storm was the winner in Europe. Jace, Vryn’s Prodigy made a notable appearance in the Top 8 Reanimator deck from Columbus as a 2-of. Ten of the top 128 decks were various flavors of Eldrazi.
Segment 4: Topic of the Week
Eternal Masters inventory seemed to be significantly less than expected by many observers. Singles inventory already low for many key cards given that the set was just released, and looks likely to stay that way. Buyouts on key cards like Force of Will have already started.
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.
You know the feeling – you’ve been eyeing a card for a while, saving resources and trying to find the right condition at the right price. The card’s price stable for years, showing only modest growth. Then it happens.
When the spike happens on a card you were eyeing, you develop a terrible feeling in the pit of your stomach. “Why didn’t I just buy the copy when I had the chance?” you may wonder. For me, this most notably occurred about 5 years ago, when I had funds for an MP UnlimitedBlack Lotus for the first time in my Magic career. But instead of grabbing that copy from Star City Games I hesitated – we all know how that story turned out.
Why do these trends happen? Why do we have these emotional reactions when cards spike – even cards that weren’t necessarily on our radar? What should we do from here? This week I’ll break down the psychology of the classic card buyout and try to explain when you know you’re too late to chase.
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Once in a while, I like to give in to my wild-eyed dreams and enjoy some pure, unproven speculation. Today I want to tell you about a few cards that I’m thinking about right now, which have the potential to do very well if something goes right.
Earthcraft (currently $33): This is a Reserved List card that does some absolutely bonker things. It’s so good, in fact, that it’s banned in Legacy.
What needs to happen: It gets unbanned in Legacy. Worldgorger Dragon had this happen, and the resulting spike was amazing.
Wizards said at the time that it was a combo card that needed restricting. Well, yes, you can do some busted things with it but are they worse than the Dragon/Animate Dead loop? Or Splinter Twin?
I think this comes off the list eventually. No idea when it happens, but at that time, I think you’ll see this card double up immediately and then settle down at $50. A lot of the supply on this has been soaked up by Commander, and I’m not sure how many of those players would cash in a spiking card that will never be reprinted.
Eye of Ugin: (currently $10,$13 for nonfoils, and $20, $40, $80 for foil versions)
So this was hot hot HOT when ‘Eldrazi Winter’ started, and the Expeditions were near $200. This has three printings and the pack foil is twice the price of the Modern Masters version, due to the rarity shift.
Eye is too good for Modern. It is amazing early and late, and that was the criteria used to ban Deathrite Shaman.
What needs to happen: Legacy Eldrazi needs to prove itself as a consistent player.
Legacy has four lands that could produce two colorless for Eldrazi: Eye, Temple, City of Traitors, and Ancient Tomb. The broken starts in Modern could be a more regular occurrence and Eye is the only one that powers stuff out early and then searches up more to do if a late game is reached.
If that happens, the Expedition versions will pop. Not to their previous heights, but $140 is in range.
I’m not sure at what point people who bought at more than $150 will give in and cash out, but there’s a chance that those collectors/investors just wait it out and that might keep some copies out of circulation. Berserk (about $100 for Unlimited or FtV, $150 for Beta and $350 for Alpha)
There was a not-small amount of surprise for me. I had thought this was a Reserved List card, but no, it’s legal. They could put it in Standard tomorrow.
They have come close, though. Cards can grant advantage but there’s nothing this good this cheap. Temur Battle Rage can do some sick things but Berserk is the best pump spell ever, beating out Wildsize.
What needs to happen: Old School (93/94, if you’re feeling sassy) needs to grow even more.
Old School Magic is a fun format, and if it continues to grow, Berserk is only one of the cards that’s going to go up significantly. It’s also a fantastic Cube card and the potential for fun is there in Commander. Double up damage on someone else’s creature and then it’s no longer a problem.
But for the card to take off, and not just creep upward, it’s got to gain traction in a larger way. Lots of people like it, but this needs to be long term and consistent. It’s not in major events yet but if side events at GPs and such become more commonplace, then the sky is the limit.
Well, not the sky, really, more like $150 for the Unlimited and the From the Vault versions. I know some people are hellbent on no white borders but the biggest growth is found when you have a lower buy-in.
I don’t think that 93/94 is going to go the way of Tiny Leaders, but it does need to be bigger than Duel Commander. In favor of it, is that the people who care put a lot of time and energy and piles of money into this endeavor. Someone who works that hard for a format is not going to abandon it easily, and that’s the spirit we want in order to have a format grow and prosper.
Hi! For those of you who are new, and hopefully that’s at least a few of you, I’m Ross. If we think of Magic columnists as being niches like “EDH people” or “vendor folk”, then I’m probably… Abe Simpson?
Typically this column is for ProTraders only, but I like to do some broader pieces every now and then as sort of a way to grow the collective understanding of the finance community. Magic is currently comprised of a large pool of relatively new players1, and I think that the market operates more efficiently if all of the actors are well-informed. Also, if I knock this one out of the park, I figure that James might invite me to co-host an episode of Fast Finance with him while Travis is out roaming wild and free across the European countryside.
All that being said, today’s article is about some of the explicit and implicit guide-rails of Magic design and development. While you don’t have to be a good Magic player to succeed in the finance realm, you will really benefit from understanding the directions that the game is growing in (and simultaneously what is being phased out!), as it gives you a better understanding of future growth potential. These elements can be derived from both trends in design and development (color pie definition in the case of the former, “knob-turning” in the case of the latter), as well as modifications to Magic’s brand. The first two are probably things you’ve either heard before (or have subliminally inferred, especially if you read/listen to Mark Rosewater a lot), so most of our time will end up being spent on that last topic. So let’s do like I did in high school and just speed our way through all this D&D talk.
DESIGN: Of the three pillars we are going to discuss today (Design, Development, and Brand), this is probably the least important, at least as far as finance is concerned. Design is constantly pushing outward into new creative space, and is the source of cards and mechanics that have never been seen before (albeit informed by both Development and Brand choices). Once you’ve endured a spoiler season (and we’ve got one coming up!), you’ll understand why speculating purely on new design is a risky (and often disappointing) mode of operation. However, Magic design is not governed by naïve whim and folly2, and there are a lot of elements at work that guide set construction (really trying to not bleed into development here, but you see why I said that was more important).
The color pie is one of Magic’s most valuable assets, and having it be well-defined is an excellent baseline for future expectations. For example, Red is currently the color of “Fast Mana” or Ritual effects- therefore, it is foolish to anticipate White getting it’s own form of Rite of Flame any time soon. Now, while this may seem obvious, apply it one step further- blue is just about as unlikely not to get its own Rite of Flame, but there are serious implications in eternal formats. This buoys the value of a card like High Tide (which is the closest to a Blue ritual that we will ever get), which in turn reinforces the cards that are dependent on High Tide being the best available option. If [THEORETICAL BLUE RITUAL] were to become a real card, it means that cards like Turnabout suffer by association. Now, High Tide and Turnabout may not be traditional “spec targets”, and cards like Time Spiral are probably really good either way, the core concept remains that a card’s value (both monetary and in a more performance-based sense) are dependent on several associated cards. Knowing what the color pie does or does not allow enables you to make more informed decisions about what is likely to come.
An important part of Magic Finance is learning that cards are largely contingent on other cards.
DEVELOPMENT: I love development, and I think that it gets under-discussed relative to design3. Ultimately, Development is a huge factor in Magic finance, in the sense that it helps define and reinforce the (relatively abstract) concept of playability. Whereas designers come up with concepts and ideas for cards, it’s developers who cost and tweak those cards to fit within existing environments- and their choices can have major impact.
Development uses a concept called “knobs”, which refer to values or characteristics on a card that can be changed in their stage of the process (common examples are mana cost or power/toughness). If the team working on a new set feels that they want a card to be more aggressive, these knobs give them different means of finding that proper feel (by either making it cheaper or easier to cast, or by giving it higher stats than comparable cards at a higher cost).
It is important to point out, if you haven’t noticed before, that most Magic sets (and certainly all them since R&D got their act together4) follow a similar recipe. Every large set is going to have certain key elements (these are, not coincidentally, also tentpoles of the various color philosophies), and the importance of Limited play has helped to solidify the role of this skeletal structure. For example, every set is going to have some form of mass removal spell (a la Wrath of God), enchantment and artifact removal at common, as well as more brand-centric things like iconic creature types (a rare Dragon in every set!). Where it is Design’s job to compose new variations on these themes, it is Development’s to make sure that those are fit to print, and in the longer term, shape the baselines for future versions.
Take, as a popular example, Wrath of God. Originally printed in Alpha, it is considered the iconic mass removal spell. When Wrath was first printed, the understanding of Magic gameplay theory was literally nonexistent- Garfield and friends were just hoping their new game would sell! Since Alpha, however, WotC has refined the understanding of how games function (shifting primary interaction from the stack to the battlefield, for example), and this has resulted in some long-term changes. Wrath of God is no longer printable into a new Standard format, because the baseline for a mass removal spell is somewhere higher than [4]5. Likewise, new iterations of Birds of Paradise are extremely unlikely to cost [1], as that ability has moved to a baseline of [2]- or in the case of Honored Hierarch, something that at least can’t generate mana on turn 2.
The safe money here, as was the case with the design portion, is largely in where Development ISN’T going. In constructed formats with large card pools (Modern, Legacy), there is significant value in prioritizing converted mana cost, even at the expense of the actual ability. Therefore, cards like Wrath of God and Noble Hierarch are going to have additional equity built-in to the fact that they are now above a bar that cannot be applied retroactively (unlike Hearthstone, you can’t patch Magic cards!). While this means that cards like Wrath and Hierarch are unlikely to be replaced by something new and better, it also limits severely their reprint options- the best way to increase supply of an old card is to get it into a Standard legal set, because it will be printed for a year and opened in tremendous quantities compared to any other product. When this window is shut completely, you are more likely to reprints resulting in either buoying or increased prices due to inability to meet demand. Alternatively, by understanding what the development guidelines are for certain effects, you can identify future Standard role players early in their life cycle (as was the case with Languish when it was easily found at around $2).
BRAND: Of the three topics, this is the one I’ve previously delved into the least. This isn’t to say that it is unimportant, only that my understanding of how it shapes Magic was incomplete. The thing that helped it click for me (and was the impetus for this article) was me reaching the following conclusion:
WotC is NOT reprinting Liliana of the Veil in Eldritch Moon.
This is one of those things that is really difficult to explain to people who don’t have a broad understanding of how the game functions from a marketing perspective. While Liliana of the Veil (henceforth ‘LotV’) would certainly be cool in the new set (and reprinting a $100 card would be very considerate for those who want copies but can’t afford them), it doesn’t help Wizards define Eldritch Moon or Liliana as unique moments in Magic’s canon. The new Liliana is going to be reflective of Innistrad’s current condition (BAD!) and the conflict with Emrakul, and anything less than evocative on that matter is a negative on the card’s design. In the case of LotV, her “ultimate” ability was actually very representative of what was happening in the story- she forced Thalia to choose between saving the Helvault or her people (represented by the two card piles in LotV’s ability!), which resulted in the freeing of Griselbrand (and Avacyn). Now, you don’t need to know that little bit of trivia to appreciate how strong LotV is (heck, I didn’t even know it until a couple weeks ago), but because it serves a clear and specific purpose, it is a serious consideration.
Also, of course they aren’t reprinting LotV, that card is legitimately busted.
Branding displays itself in other ways also- things like iconic creatures (dragons, elves, goblins, etc.) help push the identity of the game while simultaneously engaging enfranchised players with new additions to their favorite tribes. I also expect that the long-term impact of e-sports and streaming will have a significant impact on the way Magic brands its product and play experiences going forward; more emphasis placed on Standard and Limited (the money makers!) and less on Legacy and Modern. This is not to say that Modern and Legacy aren’t interesting or fun, only that player increases only make it harder to provide those forms of engagement, and brand growth relies heavily on immediate and consistent engagement. We are slowly getting some information about the recent summit WotC held with some of their broadcasting staff, so more on that as it gets trickled out.
Have any questions about any of these topics? Leave them in the comments! Hope you enjoyed today’s article, and that you learned something, too (even if it was just that LotV trivia).
Best,
Ross
1Okay, if you REALLY haven’t read anything that I’ve written before, check out these articles on the Zendikar Boom, and why player population is the single biggest driver in Magic Finance. The numbers have scaled up, but the foundation is the same.
2Well, at least not anymore. Basically, this is why some of the early sets (HOMELANDS) were so bad. Legends was also horrible, but it gets (undue) credit for having a few incredibly busted cards.
3I think this is because most people, especially if Magic captivates them when they are young, attempt to make their own cards/set.
4Again I point a judgmental finger at the Homelands team.
5Obviously this is a sliding scale, and the “correct” number is probably something between 4 and 5, but the fact is that modern-day versions need to either be costed higher (Planar Outburst), conditional (Languish), or multicolor (Supreme Verdict). Keep in mind that internally WotC considers an additional color in a spell to be roughly equivalent to 1.5 or 2 generic mana.
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