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 There will be a lot less Clique mats out there than I had anticipated when they originally made the announcement.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.


 

UNLOCKED PROTRADER: Arrested Development

Magic players, like any community of fans for a thing, has a wide knowledge spectrum in terms of understanding the game. There are people like Patrick Chapin who are able to analyze the game at such a crucial, fundamental level that they are able to write literal books on playing the game. There are also people who can’t tell a state-based effect from a hole in the ground. For most hobbies, this doesn’t preclude people from enjoying it—you can have fun watching a football game even if you can’t spot a blitz.

 

With Magic, however, it’s a little bit different. Newer players, and very casual ones1, don’t want to play against a Pro Tour champion or the local ringer. Even outside of the game, players of different skill levels can have vastly different views of what is going on in the Magic world—if Abzan Aggro wins every FNM at your store, the more casual players are going to assume that it is winning everywhere else, too. There is a demonstrable gulf between the more and less enfranchised players in terms of play skill and understanding what the wider Magic world really looks like. Those in the Magic finance community, whether they play frequently or not, are incentivized to be as ahead of the game as possible. Not only should you know which decks are good, but you should try to have an understanding of why and how they are good. While Magic finance is far from a science, your anticipations and speculations will be grounded by rational reasons, which is a great way to feel about something you’re spending money on.

The most important thing to know about Magic, fittingly, is also the hardest to know: the future. I seem to say it weekly, but Wizards of the Coast is very private about internal information. You’ve read my ramblings about the Zendikar Boom for weeks now, but perhaps the most public acknowledgment of it was Mark Rosewater’s podcast episode on 2009. I’m not going to go back to that well today, but I want to talk about one aspect of WOTC’s behind-the-scenes operation that has gotten much more public recently: development.


BRIEF ORGANIZATIONAL PROCESS ASIDE

It’s worth briefly mentioning how Magic design works for those of you who don’t know (this is going to be the very abridged version). All new Magic sets begin in what is called pre-design, where the focus is on the very basics in terms of style and flavor. Then it moves into design for a year or so, where the mechanics are fleshed out and designers start to come up with rough drafts of cards. Once the set is through all of the rough drafts (and a middle process called “devign”), it makes its way to development. This is where cards get things like more accurate converted mana costs, and where cards are tweaked to better fit the Standard environment that they are entering. To sum up the impacts of both processes: design knew it wanted to make Siege Rhino a splashy Abzan card, and development did the pricing and tweaks to get it there in light of the format it was entering (or rather, the format they expect it to be entering).


Of the two major processes, design and development, the one Magic finance enthusiasts should be most interested in is development. Mark Rosewater does a lot in telling us how design works, and quite frankly, anything we don’t already know would just be spoilers of future sets (like finding your Christmas presents in May, but knowing they are still months away).

With development, you can see what the pushes are towards (or away from!) in terms of shaping games and formats. Last week’s article by Sam Stoddard did an excellent job of spelling out some of the trends that we can expect to see in the future. I’d encourage you to go and read it (and the rest of his stuff), but I’ll give you a bit of a brief rundown, interspersed with my own examples and wry wisdom.

I Think They Call That a Reuben?

Development does not “test” Modern the way it does with Standard or Limited (the team realistically couldn’t, even if they wanted to). While Standard as a format has existed for many years, the formats themselves are radically different from year to year, and cards leave. With non-rotating formats like Modern and Legacy, however, you are only ever adding more cards to the heap, bannings aside. Design and development philosophies have changed radically from the days of Mirrodin (the first one), but (most of) the cards from that era are still in Modern. There are some types of cards that development just doesn’t want to print anymore, and trying to shift away from these cards is the team’s best tool to driving a change in Modern. Here are the three that Sam talked about, followed by one or two that I want to talk about:

Cheap and efficient card filtering: These are your Ponders and Preordains. Even though these types of cards are popular with control players and tempo decks, the elephant in the room is combo.

Modern’s earliest days were plagued by extremely aggressive combo decks that don’t reflect the style of play that Wizards wants to promote. If you remember Worlds in Rome from 1998, then you’ll know that WOTC isn’t eager to create another professional level environment where the coin toss is considered a key part of the match. Banning combo pieces offers diminishing returns in terms of effectiveness at managing the format, and so it is in WOTC’s best interest to get rid of the egregious enablers rather than all of the engines. Serum Visions and Sleight of Hand are allowed to exist for now, but you will see more cards like Anticipate printed in the future. There is a reason why Telling Time was the selection spell included in Modern Masters 2015. Hitting the best cards of this type is also one of the better sneaky ways to nerf Storm.

Anticipate

Fast mana (a.k.a. rituals): This is the much more blunt way of killing Storm. It also kills off the (extremely annoying) fringe archetype of All-In Red, which is basically presenting an early threat (in the form of Deus of Calamity or a bunch of Empty the Warrens tokens) and seeing if your opponent can answer it in time. It is miserable to play against, miserable to watch, and not the kind of interaction Wizards wants to promote.

darkritual

Super powerful hate cards: This category best exemplifies the sophistication that Magic design has cultivated. While a card like Deathmark cleanly and elegantly demonstrates black’s core conflict with white (and green), Gloom just straight-up locks most white decks out of the game. Cards like these are less of “tactical adjustments” and more like punching your opponent in the throat between games. Most of these are in Eighth and Ninth Editions, because the worst offenders are reprints from early Magic. I’m not sure how good any of them really are, since the ability to splash a second and third color in Modern is very easy.

choke

Birds of Paradise: This is one that I have observed personally. While ramp in the form of Elvish Mystic is acceptable on turn one these days, it seems like development really wants to push “of any color” to the two-drop slot, as we’ve seen with Rattleclaw Mystic and Sylvan Caryatid. While these cards are both better than Birds, they are also in the two-drop slot—compare this with Stoddard’s rationale on the card-drawing spells.

sylvancaryatid

Wrath of God effects: These are starting to get pushed to five mana instead of four, which gives aggressive decks more potential to compete. Supreme Verdict cost 4, sure, but multicolor spells are typically “undercosted” because of the built-in downside of needing multiple colors.

endhostilities

Moving interaction to the battlefield from the stack: The two smaller points are really just examples of this larger one. Worlds ’98 (the Rome tournament I mentioned earlier) was really what marked the beginning of Magic‘s change in focus (it would take a few years to fully change, but this tournament was in many ways a black eye that WOTC was looking to not have repeated).

glenelendraarchmage

While there have been some bumps along the way, Standard now is a perfect example of what Wizards wants Magic to look like. Rather than having counterspell wars over resolving an effect that is going to either win or sway the game, the interaction between players occurs more in attacking and blocking, or knowing when not to. All Magic tutorials start with teaching players how to attack and the value of having creatures in play, but the professional scene in the late ’90s was totally devoid of that style of play.

What This Means For Us

The only problem with moving complexity and interaction to the battlefield is that it becomes more difficult to evaluate cards devoid of context. Boros Reckoner was not the most hyped card at the release of Gatecrash, because it was difficult to analyze in a vacuum. Courser of Kruphix suffered similarly, as did Goblin Rabblemaster and Siege Rhino. All of these cards went on to be major role players in Standard, with opportunities to buy in cheap before their prices shot up based on demand. It’s easy to evaluate cards with clear historical precedents (Satyr Firedrinker is a Jackal Pup!) or that are clearly pushed (who didn’t think that Abrupt Decay would be a star?), but moving forward, I expect there to be more Standard formats like the one we are seeing now.

Specifically, the type of Magic that is being played in Standard right now is the kind that Wizards wants to be able to promote, and I imagine it’s partially why the company tried to axe Modern Pro Tours. It is very difficult to overhaul Modern to be shaped in the image that WOTC wants, and the backlash of banning all the cards it would take to do so would likely be insurmountable. It could happen eventually, but it would be over the course of years, probably by pushing people to play decks similar to the ones they played in Standard.

I say all of that to say this: knowing the direction that the development team wants to take Magic is an important way of knowing where Magic finance is headed. The things that get pushed the hardest now are the ones with the most safety valves: creatures. It’s important to know what to look for, and when Magic Origins starts to roll around, I’ll go through the spoiler with you. Who knows? Maybe we’ll find the next big thing.

Hope all of you who are playing in the GPs this weekend have a great time.

Best,

Ross

1 Shout-out to the Invisibles.

UNLOCKED PROTRADER: Modern Masters (The Other One)

Everyone is opening Modern Masters 2015. They love it, they hate it, they open packs with all rares, they open packs with no rares, et cetera, et cetera…

The new set certainly seems to be a bit of a mess. I have four boxes, and I’m not sure if I should bust them and hope for the all-mythics box or keep them sealed and sell down the road for fear of the no-rares packs that I’ve seen opened. It’s certainly a tough dilemma, and one that Magic players across the world are dealing with right now.

The original news was that there would be no second run, but now we are hearing that perhaps that’s not the case. Whether or not this reordering is a result of the myriad printing and quality assurance problems with the first run or not, it means more product could be hitting the market.

 

I wrote last week about my initial thoughts on the future of the set financially, and I’m sure I’ll be updating that in the weeks ahead. And while I do want to spend today talking about Modern Masters, the future is not what I’m here today to address.

Greed is Good

For us, that is. Look, I know Sigmund and I may bore you with all our talk of the “real world” stock market and our experiences and heroes within it, but Warren Buffett makes for one hell of a quote.

In this case, it’s my favorite, and most-heard, quote from the Oracle of Omaha:

“Be fearful when others are greedy, and greedy when others are fearful.”

This one phrase is so simple and yet so effective when it comes to MTG finance. While the masses are worried about Standard, I’m worried about Block. When the general public is afraid of tanking prices, I’m looking to buy in low.

I’m not Warren Buffett (or even close), but I do have a few phrases to live by when it comes to the financials of this game. One of these is, “Leave the last 10 percent to the next guy,” a phrase I introduced three or four years ago and has never led me astray. Simply put, there’s nothing wrong with failing to maximize profit on a spec, so long as you make profit. The risks of holding too long are very real in this game, and doing so leaves you in a position to lose all the gains you’ve accrued, especially when you consider that for many of us those outs are buylists, which tend to be a leading indicator both when things are rising as well as when they are falling.

There’s another mantra I’ve always adhered to, even if it’s one I haven’t coined anything specific for:

Make your move off the ball.

There are, of course, a million ways to explain this metaphor. “Don’t chase.” “Move in the shadows.” “Act on the fringe.” “Pay attention to what others are ignoring.” “Don’t buy after Jim Kramer has talked about it.” All serve to illustrate a simple concept: you don’t want to be worried about what everyone else is worried about. You want to worry about what they will worry about. Be ahead of the game, and there’s money to be made.

This is why I watch Block every year. One of my most successful recent calls came on Jace, Architect of Thought, which tore up Return to Ravnica Block Constructed but didn’t move much in price. Until rotation, that is, when it suddenly shot up to $20 and made everyone who got in at $5 a lot of money. It’s also why I like to speculate on casual cards, because they’re predictable and allow you to stay ahead of the game.

jacearchitectofthought

It’s a different mindset to consider that the moves you make today are the things that make you money a year or two from now, but it’s extremely valuable. While there certainly is some benefit to chasing those quick spikes, it’s also a fleeting and dangerous game. Loading up on Abrupt Decays at rotation is only now starting to show real profits for me, but if things continue as they’re going, this spec is going to pay off huge in another six or 12 months.

At the same time, I’m still looking toward the future. And, in today’s case, that means also looking toward the past.

Specifically, at the original Modern Masters.

Back to the Past

There will almost certainly be opportunities presented to us with Modern Masters 2015. Cards are likely going to move too low and give us a great chance to buy in. And I’m confident you’ll find the best coverage of that here on MTGPrice when it happens.

But while we wait for that time to arrive (and we celebrate at Grand Prix Vegas), it’s worth checking on the set no one is at all worried about right now but is equally important to the future of Modern: the original Modern Masters.

The Numbers

We’ve seen a few cards in Modern Masters begin to move up recently. Blood Moon, in particular, has been on a tear. I noted last week how Stonehewer Giant seems to finally be recovering from this reprint, and Academy Ruins has been noticeably up as well this year. This is more of a trend than it is isolated. Even things like Manamorphose are up almost 50 percent from where they were at the beginning of 2015.

Of course, not everything is enjoying such a good run.

darkconfidant

We’ve talked about it for awhile, but I think the moment has finally come. Dark Confidant’s days of being one of the most expensive cards in Modern are over. It’s fallen out of favor in Jund over the past year, and it doesn’t seem to be coming back. In a world of Lightning Bolt, Bob’s days may be over. Delve (bringing more high-casting-cost cards into the format) has had an impact, but that’s not all there is to it. Either way, it would appear that Dark Confidant is entering a complete freefall, and I expect it to go pretty far before we see a stabilization.

In a similar fashion, there’s plenty of still-playable staples in Modern Masters that have been reprinted since in one way or another, and the upside on these is limited. Cryptic Command, Tarmogoyf, Vendilion Clique, Blinkmoth Nexus, and company will all see a good time for a buy-in, but they’re going to come down first.

But almost everything else in Modern Masters is showing at least some momentum. I’m not going to list every single card that’s moving up, because you’re all capable of looking at this setlist yourself. What I do want to do is highlight a few of the cards in the set I feel have particular upside.

uphillbattle

Casual Favorites

It wouldn’t be my column if I didn’t target a few casual cards. In this case, I’m looking at Sarkhan Vol and Progenitus. Both have seen some growth this year, particularly the former. But neither can compare to Doubling Season, which has climbed from $20 to $30. Is there more growth in store here? Though it will slow for the next months, I do expect it to push toward $40. Likewise, Sword of Fire and Ice and Sword of Light and Shadow will continue their upward climbs.

doublingchant

Now, I know talking about cards that have already spiked isn’t the most helpful thing in the world, so instead of trying to squeeze a few dollars out of already-expensive cards, I’d be more interested in targeting things like Stonehewer Giant, which can be had around $2 but will surely climb toward $5 a year from now. And Kokusho, the Evening Star can be found under $10, but that won’t last much longer. This thing is always a terror in Commander and will continue to see upside with a much lower buy-in. Yosei also has solid upside at $5.

Arcbound Ravager

This little (annoying) beast is at an all-time high today at $20. I initially put this on the watchlist a few weeks back, and it’s grown as expected in that time. Affinity is a deck with a lot of pieces reprinted, and more people are sure to pick it up this summer. A climb to $30 seems likely.

arcboundravager

Glimmervoid

This may be an even better target. We’re right at the beginning of a spike on this one, and sitting under $10, I’d much rather get in on this in preparation of a short-term run to $15 and a medium-term run to $20. While some other cards in Modern Masters have already spiked, this one is just beginning.

glimmervoid

Lightning Helix/Spell Snare

lightninghelix

The premier uncommons of the first Modern Masters, growth on these has been slow and steady this year (Kitchen Finks has followed a slightly slower pace), and I expect it to continue or even accelerate now that Modern Masters 2015 is actually being opened. This initial rush of cards hitting the market is going to translate to more people actually playing the format six months from now when we hit Modern PPTQ season, and that’s when these are going to hit truly high demand. Getting in on these now will pay divends then.

spellsnare

Lava Spike

Again, one that has already seen its spike but is still growing. Even though it’s a common, don’t be surprised to see this hit the $4 to $5 range soon. If you can still find these, they’re great targets.

lavaspike

Conclusions

I touched on many of these two years ago, while we were still opening Modern Masters. It made no sense to me that Lava Spike was being considered essentially bulk after years of being a money common. Those moves are paying off now, and you can be sure a similar article for Modern Masters 2015 will be in the works in the coming weeks.

Until then, enjoy Modern Masters 2015. Just don’t forget about its predecessor.

Thanks for reading,

Corbin Hosler

@Chosler88 on Twitter


 

MAGIC: THE GATHERING FINANCE ARTICLES AND COMMUNITY