MTGFinance: What We’re Buying/Selling This Week (May 31/15)

By James Chillcott (@MTGCritic)

One of the most common misconceptions about folks involved in MTGFinance is that we are constantly manipulating the market and feeding players misinformation to help fuel achievement of our personal goals.

It has occurred to us at MTGPrice that though we dole out a good deal of advice, most of you ultimately have very little insight into when our writing team actually puts our money where our collective mouths are pointing. As such we’ve decided to run a weekly series breaking down what we’ve been buying and selling each week and why. These lists are meant to be both complete and transparent, leaving off only cards we bought without hope of profit, where appropriate. We’ll also try to provide some insight into our thinking behind the specs, and whether we are aiming for a short (<1 month), mid (1-12 month), or long (1 year+) term flip. Here’s what we were up to this week:

Buying Period: May 24th – May 31st, 2015

Note: All cards NM unless otherwise noted. All sell prices are net of fees unless noted.

James Chillcott (@MTGCritic)

BOUGHT

  • 3x Modern Masters 2015 Booster Box @ $205/per
  • 1x Lilianna of the Veil: $66
  • 2x Keranos, God of Storms @ $7/per
  • 1x Reveillark @ $2
  • 1x Kiln Fiend (Japanese Foil) @ $6.50
  • 1x Humble Defector (Japanese Foil) @ $3.25
  • 2x Nylea, God of the Hunt @ $3/per
  • 4 x Master of Waves @ $3/per
  • 1x Nykthos, Shrine to Nyx (foil) @ $10
  • 4x Scavenging Ooze (Russian Foil Promo) @ $7.50/per
  • 1x Leyline of Sanctity (Japanese Foil) @ $40
  • 1x Fulminator Mage (Japanese Foil) @ $53
  • 1x Noble Hierarch (foil) @ $53
  • 1x Chandra, Pyromaster (foil) @ $10
  • 2x Sphinx’s Revelation @ $5.75/per
  • 2x Splinter Twin @ $11.00/per
  • 3x Woodland Cemetary @ $3.00/per
  • 2x Chalice of the Void @ $13/per
  • 2x Erebos, God of the Dead (Japanese) @ $3.50
  • 2x Temple Garden (foil) @ $18.00
  • 5x Swans of Brynn Argoll @ $3.00/per
  • 5x Kolaghan’s Command (foil) @ $6.75/per

SOLD (Pucatrade):

  • 1x Duress (IDW Promo) @ $22.75 ($4 cost)
  • 1x Chalice of the Void (Mirrodin) @ $17.48 ($5 cost)

My purchases were pretty scattered this week, with the common element being the pursuit of cards that I consider undervalued, or solid mid to long term holds. This included a few early snags on some MM2015 foils with great rebound potential.

Just a couple of Pucatrade items this week, but both with very solid returns. I’ll be slowing my Puca activity now, with over $1200 USD in points built up, as I try to find a trading partner to help me trade up into Power 9, dual lands or Judge foils. If you have anything like that you want to send my way let me know 😉

Sidenote: Of my earlier MM2015 box deals, two of the larger deals fell through as the overseas vendors failed to produce product on time. As it turns out, this is to my benefit, because I had enough product to fulfill earlier local orders, but now have a chance to get in on boxes at $205-210 as dealers gain access to three more cases this week direct from WOTC. Take this to mean that despite the quality control issues and complaints about set variance, I am still happy to be holding some number of MM2015 boxes heading into the end of the year, where I’m looking to exit around $300.

Danny Brown

BOUGHT (Pucatrade)

10x Tasigur, the Golden Fang @ 648 PucaPoints each
4x See the Unwritten @ 341 PucaPoints each

Danny says:

“How exactly is Tasigur this low? Sure, he’s not a mythic, but he is from a small set that will be in short supply come next year. He’s proven himself in Standard, Modern, and even Legacy, and with Treasure Cruise and Dig Through Time banned out, is one of the most powerful things you can be doing with delve (which is in and of itself rather powerful). Despite having a goal for my PucaPoints, I decided to not just let them sit.
 
I’m already in on a couple playsets of See the Unwritten at 410 points each, so with the price drop, I figured going in on another set couldn’t hurt. Battle for Zendikar will make this price go up on hype alone once the first Eldrazi are spoiled.”

SOLD

2x Steam Vents @ 1319 PucaPoints/per
1x Sulfur Falls @ 821 PucaPoints
2x Pestermite @ 39 points/per

36 Khans of Tarkir packs on MTGO @ an average of 1.8872 each

Danny says:

“I’ve been slowly outing my pile of Steam Vents, and this all went to the same guy, so I threw in a couple other Splinter Twin cards he needed. 
 
I don’t speculate much if at all on MTGO, but Khans packs seemed too cheap to me a month or two ago, so I bought 36 packs at an average of 1.3 tickets each. I don’t know if these are headed up or down, but given my inexperience in MTGO speculation and the opportunity for profit right in front of me, I sold out for an average profit of .5872 per pack, putting me 9.3952 credits up (probably rounded down a bit due to credit being stored in bots). Then I promptly blew twice that amount on a couple Tempest Remastered drafts wherein I did poorly. Oh, well.”

Note: The rest of the guys were quiet so far this week.

Bonus Tips:

  • Tarmogoyf hasn’t been falling nearly as hard as some predicted, largely due to the vendors at the GP’s this weekend propping up the price via widespread hoarding. Buylist was as high as $130 on the floor in Vegas, so I wouldn’t be surprised to see the dominant green creature in the modern era hold the line above $120, rebounding to $160-170 by mid-summer. I wouldn’t wait long to get in for a set if that was your goal.
  • The rest of the MM2015 rares and mythics have certainly fallen across the board, but the race to the bottom hasn’t really showed up yet. Keep an eye on the price index for the set and don’t be too greedy trying to find the absolute lows on the cards you need.  My call that Noble Hierarch would end up below $15 for instance, looks far too low, and I’d be surprised to see many sell below $30.
  • There are some very good buying opportunities on MTGO right now with the MM2015 mythics and rares being at historic lows in many cases. Look for a solid entry point later tonight.
    So there you have it. Now what were you guys buying and selling this week and why?

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.

ADVERTISEMENT: Get the Cube Starter Bundle with the 3rd Edition Grimoire Deck Box, the brand new Grimoire Deck Box designed specifically for the red mage in you.

 

Bursting Modern Master Bubbles

I’m just going to come out and say it: I’m not a fan of Modern Masters 2015. 

The funny thing is that I should be the target market for this product: a Limited enthusiast who is willing and able to pay a bit more to enjoy drafting a more-complex-than-normal (meaning better-than-normal) set with the opportunity to pick up sweet cards for my cube or open insanely expensive eternal staples.

TARMOGOYFfoil

So what’s the problem?

Lottery Tickets

Think of your worst-case scenario in a draft. Most versions of this scenario would be something along the line of opening no cards of value and losing in the first round. Consider that in an eight-man pod, four players will lose their first match. Even (probably generously) saying that two of those players opened cards worth more than the price of the packs for drafting, that means that 25 percent of drafters got to play one round (and are probably frustrated due to a loss) and opened no cards of value.

Obviously, being a good Limited player means that you probably won’t see this scenario a full 25 percent of the time, but still, even the best drafters are going to have nights where the whole thing just goes to hell and they end up with less money, bulk commons, and the annoyance of losing early.

Normal drafting usually costs between $10 and $15. That’s not an insignificant amount of money, but it’s also not enough to really lose sleep over (and if it is, you probably shouldn’t be drafting. Find someone with a cube for your Limited fix). When it comes to drafting a normal set, I have made the conscious decision that I am willing to risk $12 (my LGS’s price) for the chance to gamble on some packs for a money rare, draft some cards, play at least one round of Magic, and hopefully win some prizes. Everyone’s line on this is different, of course, but to me, the upside of a perfect draft is worth the downside of losing $12 and experiencing the frustration of a worst-case draft.

balance

The First Modern Masters

I drafted the first Modern Masters four times (in paper MTG), paying $40 cash each time for the privilege. That’s $160 I spent on 12 packs of the set.

I pretty much had my worst-case scenario happen in all four of these drafts: I didn’t open the top cards and I lost in the first round of all but one draft (and did not win that fourth one).  To this day, two years later, I regret spending so much on those drafts, but due to the nature of the first Modern Masters, the worst-case scenario wasn’t as bad as it could have been.

Here’s an incomplete list of cards that I did end up with after these four drafts. I wish I had written everything down, but I did not, so this is just based on my memory:

None of these cards are the type of thing you open and pump your fist about (at least when you consider some of the mythics in this set), but added up over four drafts, these did a lot of work to help me not feel completely morose about “wasting” $160 on what turned out for me to be highly unsatisfying drafts.

The New Modern Masters

Despite my bad experience with the first Modern Masters, I was looking forward to Modern Masters 2015 and eager to actually win some drafts this time.

Then the set was fully spoiled.

Travis Allen did a great job covering what is also my biggest problem with the design of Modern Masters 2015 as a premium product designed to be a higher-cost alternative to normal drafting. This is the part that stuck out most to me:

The result here is that while half the rares you opened last time just about covered the cost at MSRP, this time only a quarter of them are going to. That puts us a lot closer to the Dragons of Tarkir ratio than the Modern Masters ratio.

The first Modern Masters had cards like Kitchen Finks, Spell Snare, Lava Spikeand a number of other powerful and fairly valuable uncommons and commons that you could be fairly certain would be available several picks into each pack. You didn’t have to open a rare to make at least some value back from your draft.

In Modern Masters 2015, there are a few powerful uncommons and commons, but most of the value is packed in the rare slot of one in every eight packs, since the mythics are where most of the money in Modern Masters 2015 lies.

With the first Modern Masters, someone with a good understanding of cards values could easily take $10 or more from a draft, even if she didn’t open anything in her three boosters. This is largely unprecedented in the world of drafting, where your financial success is often hit or miss—you tend to open one or two cards of value, or you get a bunch of worthless junk with maybe a Standard-playable uncommon.

Modern Masters 2015 leans more toward this second model: you either win big or you lose badly, and the entry fee here is 250 percent the normal price. The fact that a fraction of a fraction of a percent will open a foil Tarmogoyf is cool, but the downside is the same as for a normal set—completely whiffing on cards of value and ending up with only bulk.

magisterofworth

Breaking It Down

As the above quote from Travis said, you have a 25 percent of opening a rare that will cover your cost of entry. Note that the cost of entry is $10, and that many of these rares are going to be heading south of that very quickly. Primeval Titan (a mythic) is barely above the pack price as is, given it’s three previous printings. Daybreak Coronet‘s previous value stems from one deck that wants it and there being virtually no supply—an influx of supply should crash it very quickly. How many copies of Splinter Twin, Fulminator Mage, and Spellskite does the market really need? All of these cards are on their way down to varying degrees. In fact, with very few exceptions, Modern Masters 2015 packs include mostly cards that are going down in value for the foreseeable future. That just doesn’t seem that attractive to me at $10 a pack.

Consider now the top eight non-rares in the set based on TCGplayer mid:

  1. Remand
  2. Electrolyze
  3. Lightning Bolt (at uncommon)
  4. Smash to Smithereens (a common)
  5. Dismember
  6. Cranial Plating (at uncommon)
  7. Vines of Vastwood
  8. Thoughtcast

First of all, the cards at the bottom of this list aren’t even worth a dollar. Second, half of the above cards (Smash, Plating, Vines, and Thoughtcast) are for highly specialized decks, meaning their financial upside is inherently capped. Lightning Bolt at uncommon makes a lot of sense for Limited, but it means players are less likely to get one in their drafts, and it’s not like a card with this many printings is going to have a huge upside despite being at uncommon here.

Only Remand is truly exciting among the non-rares in this set. If you whiff on your rare and foil in each pack, then you have a very limited chance of making back much if any value from the cards passed to you. Compare this to my Modern Masters 2013 pickings listed above, which were almost exclusively passed to me. Modern Masters 2015 just doesn’t compare, and to me, it’s not worth the high cost of entry.

ambitionscost

There Is an Alternative

I’m reminded of George Orwell’s take on lotteries from 1984where the lottery was used as a means to control the masses through providing distraction and false hope.

Look, I understand the thrill of opening a booster pack and hoping to find something highly valuable. That very thrill is the reason that I mainly play Limited, and my love of valuable cards naturally led me to MTG finance. I have drafted sets multiple times with virtually no good cards because I love cracking boosters. The difference is that those boosters were $4 or less.

The ceiling for Modern Masters 2015 is well worth $40 a draft (I’m assuming you’re paying for a prize pack, as well), but the floor is not. Again, each of us will have our own lines, but I find the idea of dropping $40 on a draft and having the worst case happen to be completely untenable.

So what’s my solution? I’m just not going to draft the set. I think Wizards overshot with the MSRP while simultaneously making the set worse value than its predecessor. Sure, I would love to crack some packs, but I’m expressing my dissatisfaction with this product with my wallet. (I may reconsider on Magic Online, where the MSRP is the $6.99 of the original Modern Masters.)

Do I think you should skip the set? Only if you agree with what I’ve written here. I’m not trying to be an anti-Modern Masters 2015 activist here. If you feel like it’s worth gambling with your $40ish dollars on some packs of the set, by all means, do so!

But if you have any way convinced yourself that this set is good value and that you as a financier or player must be cracking packs to get in on the action, I suggest you reconsider your position. There’s a lot of places you can put your money, and randomized packs at $10 a piece just doesn’t seem like your best bet. You can do better. This is no different from any other set: if you’re looking for specific cards, just buy them. Booster packs are bad value, and Modern Masters 2015 are in the same boat as all the others.

 


 

Live Update from #GPVegas

By: Travis Allen

It’s nice and toasty here in Las Vegas, and the cards on the floor are not much different than the weather. With a good twenty vendors or more spanning the hall, cards are moving fast and furious. There aren’t many booths where you can just walk up and sit down with the buyers, and some have lines that last upwards of thirty minutes! I’m hearing that some vendors have already spent nearly (or above) $200,000!  This is just the beginning too. The hall is noticeably busier than yesterday, and it’s still not anywhere close to full size or attendance.

So what’s moving?

  • The best buylist price I’ve seen on Tarmogoyf today is $125. Tomorrow will be when it takes the biggest dip, between 6pm and 11pm. That’s around when most players that aren’t in the running for day two will be looking to move the cards from their pools. Buylist numbers could drop into the sub-$100 range at this point in time.
  • Many Modern staples will be opened this weekend, but it may not be as many as you think. I’ve seen estimates of roughly 1,500 of a specific mythic, say Goyf, being opened. Assuming this is accurate, that’s about 375 playsets. I’m willing to bet there are more than 375 players in the room of Vegas still looking for a set of Goyfs. Rebounds on MM2015 cards may happen quick.
  • I found a single vendor with copies of Cunning Wish in stock, and they wanted $25. Keep an eye out tonight at your LGS for any copies in the display case.
  • Playmat redemption is only for five hours Sunday morning; from 7am until Noon. That’s going to make it tough to turn main event mats into the Vendilion Clique mats. I expect not many players will manage to make it in to accomplish this. There will be a lot less Clique mats out there than I had anticipated when they originally made the announcement.

Look for more news from the floor to come, as well as photos of the t-shirt recipients!

Watching the Fall

By: Cliff Daigle

I’m watching Modern Masters 2015 very carefully.

There’s a lot of things happening with this set. The packaging is causing all sorts of nicks and dings in the cards. The collation seems to be off, resulting in abnormal amounts of foils, of non-foils, extra rares and no rares. Boxes have been opened with foil Rusted Relic being the prime takeaway. The spacers on the print sheet have made it into packs.

But really, I’m focused on the cards themselves.

I wrote a few weeks ago how we all lose at pack wars. That is, opening a pack at MSRP has worse odds than a lottery scratcher ticket, but at the time, we didn’t have the full Modern Masters spoiler to work with.

So let’s take a look at the numbers, the figures that are keeping me far, far away from buying any packs.

There are 53 rares and 15 mythics in the set. Right now, 22 of them have a price of $10 or more. I’m going to leave out foils and ignore commons/uncommons, for distribution reasons in the case of the former and the latter doesn’t have much besides Electrolyze and Lightning Bolt.

You currently have a 32% chance of making your money back on a single pack of Modern Masters 2015, a figure which will not stay that high. 

You have a very small chance of pulling a Tarmogoyf, the winningest of lottery tickets, currently at $160. That will get you the value of most of a box. Two other cards are more than $40, seven others more than $30, and another dozen at between $10 and $30.

That’s before this weekend’s festivities. There will be at least ten thousand Sealed pools opened, that’s 60,000 packs, even before counting second-day called drafts and side events during this weekend’s three Grands Prix. There are a lot of Magic finance people on site in Vegas already, and I fully expect buylists to be dropping fast on site, and others will follow online.

If the odds of making your $10 back are already one in three, I would suspect that it’ll be at 25% or lower after this weekend and the enormous about of supply about to be added.

In my area, there are places doing Modern Masters 2015 drafts for $45 or $50, and I can’t think of an easier way to set money on fire. There’s a 4% chance that I open one card that currently has the value of that draft (that’s 3 rares/mythics out of 68), but value isn’t the same as cash, especially if I don’t play Modern as a format.

Is there a chance that I open a Tarmogoyf and trade it in for $150 or more in store credit? Sure. I devoutly hope that you take that credit and sink it into anything else you desire, and not more Modern Masters packs.

Stay away from drafts, buying packs and buying singles right now. The prices have farther to fall and fall they will. Foils and nonfoils alike, you don’t want to be buying singles just yet.

I confess that I have my eye on a few select foils for different EDH decks of mine. My wife is building an Oona, Queen of the Fae deck and she needs a foil Bitterblossom and a foil Vendilion Clique. The prices on those have already come down a pleasing amount but I’m still waiting.

Keep in mind that not a lot of people play Modern casually. It’s a competitive format, and one that can see a lot of shifts very quickly. Think of how quickly Eggs arrived and how quickly it was removed from the format. Think of the Birthing Pod ban. Who knows what’s next to enter or leave this format?

I’d be very cautious when it comes to investing money in this format. If you enjoy it, and you have a good metagame scene to play in, great! Buy your playset and use it well. If you’re looking for specific price predictions, I think Tarmogoyf bottoms out at $100, Clique and Bob at $30, and Hierarch at $20.

The good news is that once this weekend passes, prices will tumble on almost all of the cards in Modern Masters 2015. There’s just going to be too many people looking to cash out their opened cards for these prices to hold in the short term.

The long term prices, I’ll leave that to more experienced Modern players to speculate on. I don’t expect the same boom in Modern players that happened two years ago, so I find it unlikely that prices all get back to where they were, but I’ve been surprised before by these things.

I am really interested in what Wizards does about the collation and card damage issues. Their first statement was “We have a great QA team and you must be buying cards from questionable sources.” The second statement was Tell us exactly what you got and where you got it from.” Twitter hasn’t yet reported on what (if anything) people are getting to make up for the damage or collation issues, but don’t be shocked if people get nothing. Wizards has been inconsistent in apologies and refunds from Magic Online’s long-known and well-documented problems, but maybe they will take this more seriously due to people paying $10 a pack to get SP or even MP cards.

This isn’t just about the packaging, either, not if there’s consistent collation errors and DISCARD cards inserted instead of foils. Wizards did multiple things differently with this set and they are turning out to be major mistakes.

So you need to be more patient with these cards, and start picking them up about the time Magic Origins comes out.


 

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