Tag Archives: Finding Value

UNLOCKED PROTRADER: Elements of an Undervalued Mythic

By Guo Heng

Mark Rosewater did an AMA on Reddit a few years back, and the following was part of his response to a question by Hall of Famer Brian ‘Dragonmaster’ Kibler regarding the “lack of truly awesome dragons in a long time”:

“…I am happy to tell you that there is a dragon that I’ve been told is very tournament worthy in the pipeline. I can’t tell you for what set but suffice to say it’s been made and you all will have a chance to play it soon enough.”

-Mark Rosewater

Sure enough, in Mark Rosewater’s preview piece for Magic 2013, we got this:

Thundermaw Hellkite Large

Thundermaw Hellkite was the dragon that redefined the competitive dragon. The ambition behind the design of Thundermaw Hellkite was to create “a Dragon that set the standard for a badass Dragon as Doug Beyer laid it out in Mark’s preview article. And Thundermaw Hellkite achieved exactly that. Prior to Thundermaw Hellkite’s existence, the dragons that saw high-level competitive play were either too expensive to cast or contain a prohibitive mana requirement that restricted their playability to few archetypes.

Thundermaw Hellkite broke the mold. She is a five casting cost 5/5 flier with haste and an enter the battlefield ability that ensures she and potentially your army could go in for the alpha strike. She was obviously pushed and was designed for the tournament tables.

Yet her price trajectory during her first few months of being unleashed into the meta was nothing but dismal.

Thundermaw Hellkite Price

After the hype surrounding Magic 2013 died down, Thundermaw Hellkite’s price tanked all the way to $10. How could the price of such a playable mythic stoop so low? We all know the answer to that: Thundermaw Hellkite was a mythic with no home in Standard. Indeed the reason Thundermaw maintained a price tag of $10 was the fact that she is a dragon and is from a core set.

In October 2012, a couple of months after Thundermaw Hellkite’s release, and right after Return to Ravnica rotated in, Takeda Harunobu won a high profile Standard tournament in Japan with a Standard brew we now know as Jeskai Tempo (or UWR Tempo back then). Takeda’s deck featured two Thundermaw Hellkites alongside Geist of Saint Traft and Restoration Angel.

In the middle of November 2012, Jon Bolding took down Grand Prix Charleston with a Black-Red ‘Big’ Zombies deck that featured three Hellkites in the mainboard. Tyler Lytle took down Grand Prix San Antonio the week after with the same deck.

By December 2012, Thundermaw Hellkite was a $40 card and remained so until February 2013. Throughout her Standard shelf life, Thundermaw Hellkite saw play in a multitude of archetypes and was a quintessential staple of InnistradReturn to Ravnica Standard. She even saw Modern play when the UWR Tempo archetype made its debut in Modern.

Thundermaw Hellkite’s trend was not unique to herself of course. A handful of expensive mythics had at some point during their Standard life been sorely undervalued due to a multitude of reasons. Some stayed low for a brief period of time. Dragonlord Ojutai is a recent example. He was preordering for $6, began his first week in Standard under $10 and is $38 as of writing. Some remained low much longer. Remember the summer when Jace, Architect of Thought was under $10?

On the other hand, a lot of mythics stayed in the under $10 region all the way until they rotated out of Standard and into the bulk bin. I was bullish on Duskmantle Seer after a BUG Aggro shell running four Duskmantle Seers briefly surfaced in the meta. Even Paulo Vitor Damo da Rosa had good things to say about the Seer, arguing that his symmetrical ability is asymmetrical in the right deck. When Duskmantle Seer hit $3, I thought he was too cheap. I bought two playsets for speculation and one foil playset for myself. As of today, they are collecting metaphorical dust in my bulk specs box.

When we speculate on undervalued playable mythics, we are betting that those mythics would have their day in the sun before their time in Standard comes to a dawn. The following are three questions I use to evaluate the chances that an under $10 mythic would spike before its time in Standard comes to an end.

1. A Mythic in a Hostile Meta?

Thundermaw Hellkite struggled to find a home during her first few months in Standard as it was the era of Blue-White Delver. If you were lucky enough to be able to resolve a five casting cost dragon amid Mana Leak and Snapcaster Mage, Vapor Snag would wreck your tempo. Once Mana Leak and Vapor Snag rotated out, the meta was Thundermaw Hellkite friendly and as a result she was able to spread her wings and soar to $40.

Thundermaw Hellkite’s dominance (in tandem with that of Falkenrath Aristocrat) kept Jace, Architect of Thought out of the metagame.

Jace, Architect of Thought Price

Once the hasty fliers rotated out of Standard in October 2013, Jace proliferated throughout the metagame in Blue-based control decks and Mono Blue Devotion. His price spiked to the $30s briefly and hovered around the $20s until the release of Jace vs. Vraska.

Xenagos, the Reveler and Ashiok, Nightmare Weaver both spent time as $7 mythics. Both spiked above $15 when a new Standard was ushered in last fall.

Are there any inherently good mythics that are currently undervalued because they do not have a home in the metagame? Sarkhan, the Dragonspeaker is just $7.55 at the moment. Sarkhan is competitively costed, defends himself and is a game finisher but he is not the card you want to cast in a metagame where Hero’s Downfall is prevalent. Could Sarkhan soar to $20 once Hero’s Downfall falls out of Standard?

Sarkhan, the Dragonspeaker smells like a good summer pick-up.

2. Does the Mythic Carry the Game by Itself?

A card that requires synergy to tap into its full potential is unlikely to  be played in multiple archetypes. Build-around-me mythics have a significantly lower chance of spiking due to the reduced probability of them finding a home. Duskmantle Seer was a good example. He requires you to maintain a low curve in your deck to optimally exploit his Dark Confidant ability.

The reliance on synergy was the reason I did not buy in on the Master of Waves spike when Shorecrasher Elemental was spoiled.

Master of Waves Spike

It was tempting to buy into cheap Master of Waves in case Blue Devotion becomes a thing again, but too much hinged on the success of a single deck for that bet to be worth making.

Every card listed on point one above are good cards even by themselves. Dragonlord Ojutai is a card advantage machine all by himself, allowing him to be one of the most ubiquitous mythic in the current Standard metagame. Of course we get a card that occasionally bucks the trend. Falkenrath Aristocrat’s spike hinged solely on the popularity of The Aristocrats archetype but she was an exception rather than the norm.

3. Does the Mythic have a Snowball Effect?

The card advantage you get from each activation of Jace, Architect of Thought or each time Dragonlord Ojutai connects makes it more likely for you to activate or connect the second time around. And the third. Eventually the card advantage from those effects propel you sufficiently far ahead in the game that your opponent has practically lost even though his or her life point is still above zero.

An undervalued mythic with a snowball effect is more likely to find a home and experience a price spike compared with a mythic that offers you a splashy, one-off effect.  Incremental card advantage and board position win games. Sometimes the advantage those cards generate are not immediately obvious until you play with them.

I am going to cheat and use a couple of Standard rares to illustrate this point. In my defense, the following are rares that started out their Standard lives being in the low single digit price range and eventually maintained a price above $15 for the majority of their Standard-legal life. Without playtesting with Goblin Rabblemaster, it was easy to overlook the fact that every turn Goblin Rabblemaster stayed on board puts you further and further ahead in board position. Every turn Courser of Kruphix remained unanswered could potentially lead to an extra card drawn and an extra life point gained.

This question generally applies to permanents rather than spells. We do occasionally get a spell that allows us to chain card advantage. The first Sphinx’s Revelation you resolve increases your odds of hitting your second.

In this vein, I like Sorin, Solemn Visitor as a pick right now and during this summer. Sorin is currently paying a visit to the valley of sub-$10 playable mythics. $9.40 seems too cheap for a versatile planeswalker that generates incremental card advantage and could be found in both Abzan Aggro and Abzan Control. Perhaps the latest iteration of Mardu Superfriends could be the next tier one contender in the format. Or we could even see Sorin and Narset side-by-side in Esper Control in the new Standard meta this October (I personally prefer Dragonlords). Sorin also has the additional upside of a relatively low spread of 36% as of writing.

Conclusion

Those three questions cover only the main points in evaluating if a sub-$10 mythic has a good chance of spiking before it rotates. Other factors like Duel Deck reprint risk and set supply should be taken into consideration as well. I chose those three elements because they constitute a useful rule of thumb to help you decide if a cheap mythic is worth picking up. Those points were derived from the lessons I’ve learned from getting burned by Duskmantle Seer and the countless other mythics I spec’d on with hopes of an early retirement but are now destined to remain in my bulk spec box forever. Those points were distilled from the what little success I’ve had with Thundermaw Hellkite and a few other mythics which in retrospect seemed exceedingly obvious they were too cheap. Those were the points I used to evaluate Dragonlord Ojutai before coming to a conclusion that I should probably preorder him.

Do share your thoughts in the comments section below, or catch me on Twitter at @theguoheng.


 

 

Game Day Promos, Part I

By: Guo Heng Chin

The Dragons of Tarkir Game Day weekend was one of a kind. Out of the four Game Day events I attended, three of them attracted a crowd larger than the average PPTQ in my area. Game Days have never been that popular, nor that competitive. The weekend also set the record for the most Game Days I’ve ever played for a single set.

This was the reason:

Bow before the might of the Regent, in full art.

Back at the Fate Reforged Game Day, the coveted prize was the Game Day Champion playmat featuring Chris Rahn’s alternate art of Ugin, the Spirit Dragon. The playmat sold for $80 on eBay during the weeks following the event, and is now selling for $30 to $50. The expected value for participating in Fate Reforged Game Day was not spectacular, as only one person could win the playmat and sometimes tiebreakers can be heartbreaking.

This time around, the main prize as players saw it was not the playmat, but rather the full-art foil Thunderbreak Regent which was awarded to the top eight players at each Game Day. Besides being a highly playable dragon in Standard with casual and EDH appeal, the card features a gorgeous full art treatment by Jason Rainville. Here is a slice of eBay completed sales for the promo during the Game Day weekend:

eBay Thunderbreak Regent Game Day

The Game Day Thunderbreak Regent is still commanding a TCGplayer-mid of $20 as of writing. If you took Derek Madlem’s advice and made top eight of your local Game Day, you would most likely have made a good return for your participation fee.

The price of the foil full-art Thunderbreak Regent got me wondering: is it one of the most expensive Game Day promos ever to the given out?

Today, we are going to take a trip back in time to the first Game Day ever that awarded full art foils to the top eight players. The long-term price trajectory of full art foil Game Day promos piqued my interest because:

  • They are limited edition and in limited in supply as only eight players per Game Day receive copies.
  • A large majority of them seems to cater to the casual and EDH crowd, which means good long-term potential.
  • Full-art foils are more collectible than set foils. Barring a few, Wizards has done a great job in ensuring that the art for the Game Day top eight promos blows the set version’s art out of the water.
  • Chances of being reprinted: 0.05%.

Those four factors put together make for solid long-term potential. Does that mean that these promos are good investments? Let’s have a look at how the first several Game Day full-art foil promos have done over the years.

History

While the first Game Day to hand out a promo to its participants was the Tenth Edition Game Day back in 2007, the first Game Day that set the current trend for awarding a promo to each participant and another foil full art promo to the players who made top eight was the Magic 2010 Game Day. We shall start from this point.

Magic 2010 Game Day

Mycoid Shepherd Game Day

Even though Mycoid Shepherd was the first full-art Game Day promo, it is worth nought. The foil full-art Mycoid Shepherd is just going for $3.64 on TCGplayer.

In the next Game Day, the top eight players received a more valuable card:

Zendikar Game Day

Emeria Angel Promo

The Game Day promo (still called WPN or Gateway promo back then) full-art foil of Emeria Angel is commanding a TCGplayer-mid of $20 today, which is impressive and yet not really that surprising. She is an angel after all, and being a limited-edition foil featuring full art by none other than Steve Argyle could not hurt her price, even after being out of Standard for four years and not seeing play in Modern.

I’m tempted to say that the casual force is strong in this one. However, the set foil is only $3. Could the fact that this Game Day promo features a full art drawn by a well-loved artist explains large chasm between the set foil and the Game Day foil?

More importantly, could the Thunderbreak Regent Game Day promo follow the footsteps of Emeria Angel?

Worldwake Game Day

Kalastria Highborn Game Day Promo

The Worldwake Game Day top eight promo is another that remains moderately valuable today. The full-art foil Kalastria Highborn has a TCGplayer-mid of $11.84, but near mint copies start at $14.08. As limited edition cards get older, near mint copies become harder to locate.

Contrast the Game Day full-art foil of Kalastria Highborn with the set foil, which is only $4.60. The difference between the set foil and Game Day top eight full-art foil may be less stark than that of Emeria Angel due to both versions sharing the same art, and vampires not being as popular as angels. Vampires may not be a legitimate archetype in Modern, but the tribe has moderate casual and EDH appeal and Kalastria Highborn is a key piece of any vampire tribal deck.

By the way, the set foil has a multiplier of only 0.56 compared the non-foil.

Rise of the Eldrazi Game Day

Deathless Angel Game Day

Someone at Wizards was slacking at his or her job. We get another Game Day promo with the same art as the set version, albeit in full art glory and in foil. The Deathless Angel Game Day promo is only worth a TCGplayer-mid of $7.33, not much more than its set foil counterpart, which is going for $3.76. Deathless Angel may be an angel, but her ability is underwhelming, and I am not sure she is at all popular. Off the top of my head, I can only think of one deck that would want Deathless Angel: Kaalia of the Vast EDH. And there are much better ways to protect Kaalia.

Magic 2011 Game Day

Mitotic Slime Game Day Promo

The trend of underwhelming Game Day top eight promos continued into the Magic 2011 Game Day. The only explanation I can think of for the reason behind selecting Mitotic Slime as the promo for this one is its perceived casual appeal. I can only imagine the collective disappointment of the players who made top eight of the Magic 2011 Game Days.

At least Wizards commissioned a different art for the Game Day promo this time. Still, it’s barely worth anything, with a TCG-mid of $2.98.

Scars of Mirrodin Game Day

Tempered Steel Game Day Promo

Now that’s a card worthy as a Game Day top eight promo! Tempered Steel was the centerpiece of its namesake deck which propelled four pilots, all from Team ChannelFireball, into the top eight of Worlds in 2011. The Tempered Steel archetype went on to become one of the premier aggro decks during that Standard season.

Unfortunately, since Scars of Mirrodin dropped out of Standard, Tempered Steel has struggled to find a home. It is too clunky for Modern Affinity, and it does not really fit the bill of a casual all-star. This all explains the Game Day full-art foil version of Tempered Steel being at a paltry $4.21 TCGplayer-mid. The Memnite non-foil full art promo, which was given out to all participants of the Scars of Mirrodin Game Day, is worth nearly as much as the promo exclusive to top eight players, with a TCGplayer-mid of $3.83.

The next Game Day top eight promo recently experienced a hike in price, due to the recent surge in Tiny Leader’s popularity.

Mirrodin Besieged Game Day

Black Sun's Zenith Game Day

The Game Day full-art foil promo Black Sun’s Zenith was hovering around $6 late last year, and spiked to the double digits early this year when a new format exploded into mainstream Magic. For a while, every single Magic content website featured discussion about the novel format that is Tiny Leaders.

Black Sun’s Zenith is one of the rare few board wipes that is legal in Tiny Leaders, as its XBB casting cost qualifies it as having a converted mana cost of two. Black Sun’s Zenith’s Game Day full-art version is currently priced at a TCGplayer-mid of $14.48, making it one of the more expensive Game Day promos out there. The set foil is only $6.37.

The Game Day Black Sun’s Zenith’s price is buoyed mainly by Tiny Leaders. It is not used in Modern, and there are better board wipes in EDH like Damnation (or Decree of Pain and Life’s Finale if, like me, you can’t afford Damnation).

The Game Day full-art foil Black Sun’s Zenith also has one of the sweetest full-art treatments in existence, with an epic depiction of the onsetting despair of getting your board wiped by an opposing Black Sun’s Zenith by James Paick.

Until Next Time

That is all for today’s adventure back in time. Join me for future discussions of Game Day promos, as we will be continuing on our journey exploring the beautiful full-art cards  given out to worthy players in the past few years.

Feel free to leave your comments below, or catch me on Twitter at @theguoheng.

 

UNLOCKED PROTRADER: Spikecatcher

By Guo Heng

There is a singular interest we all share in mtgfinance regardless of our motivation for engaging in mtgfinance: catching price spikes before they happen. Today’s article covers the tools we could use to help us stay ahead of price spikes. This article aims to be a summary of the resources available to both beginners and experts alike to keep ahead of price spikes, and indeed most of these tools are used by seasoned financiers. Whether you a beginner or an old guard, I hope you would find a thing or two useful in this guide.

Before I go on, let me share with you how I got into mtgfinance.

Why I Mtgfinance

I started Magic way back during Urza’s Destiny when I was a kid. Back then it was all kitchen table Magic and I was playing with a bunch of hand-me-downs from a cousin and whatever junk cards my neighbour, who had a veritable collection, gave me. The only time I had to fog up cash from my allowance was to buy the first dragon I owned, a Two-Headed Dragon (yup, I had something for dragons since I was a kid) and the occasional booster pack.

My first foray into low-level competitive Magic took place during Mirrodin, when I was a teenager. I was playing FNMs on a weekly basis and I managed to throw together an Affinity deck using my measly savings. It sounds unbelievable today, but back in 2003, it was possible to build the best deck in the format without having to spend a fortune. Those were the days where the most expensive Standard chase rares were $10 – $15, before the advent of mythic rares and $40 staples.

I stopped Magic when I went to college. Unfortunately there was no Magic scene where I was studying. I started again during New Phyrexia, at the height of Caw-Blade’s dominance in the format and Jace, the Mind Sculptor became the first Standard-legal card to hit $100. Knowing that Jace and company were about to rotate out, I begrudgingly waited for Innistrad to come out before investing in a competitive deck. It turned out to be a prescient move as Jace and Stoneforge Mystic ended up getting banned in the summer, a few months before they were slated for rotation.

However, come Innistrad, it was still quite expensive to build a tier one deck. Liliana of the Veil hit $50 briefly when Blue-Black Control and Solar Flare became the tier one decks during the early months of Innistrad Standard, and they both ran multiple copies of Lily. I began grinding PTQs during this time and the only reason I could afford to run Blue-Black Control was the fact that I preordered my Snapcasters and Lilianas, which turned out to be one of the rare few times an impulsive decision save me money.

At the same time I started listening to a fledgling podcast, the first ever to focus specifically on mtgfinance, Brainstorm Brewery. Brainstorm Brewery got me hooked on mtgfinance and introduced to me a lot of important fundamentals in mtgfinance.

When the metagame shifted to Blue-White Delver, I was late to adopt that archetype as Geist of Saint Traft, who was a $15 card during the first few months of Innistrad Standard spiked to $25 after Dark Ascension came out and I was finding it hard to justify spending so much on a new archetype. I ended up playing second tier decks, which compromised my tournament results for a couple of months. I reluctantly pulled the trigger and obtained my playset of Geists when he dropped back to $20 in the summer.

One of the things I’ve learned from my first year of grinding the competitive circuit is that the best way to keep up with the ever-evolving Standard metagame is to apply a bit of mtgfinance prescience in acquiring Standard staples. Unless you have access to a deep wallet or a playgroup with a large card pool, the privilege of playing the best deck every week is going to cost an arm and a leg.

The reason I got into mtgfinance is this: I’m a Spike trying to catch competitive staples before they spike. My primary motivation in mtgfinance is to make sure I can play tier one decks as they emerge, or tune my deck to include the latest tech, without having to spend a fortune doing so. Making a bit of money on the side is the icing on the cake and most of my profits end up subsidizing more Magic.

The best way to catch cards before they spike is to identify undervalued cards. Gone are the days where price adjustment moved at such a glacial pace and you can grab cards at their old price a week after the card saw a breakout performance at a large tournament. Card prices are propagated at a speed much faster than the monthly InQuest price list update these days.

Today, in your quest to catch cards before they spike, there are a few tools you should not leave home without. The following are the resources that help me identify undervalued cards and stay ahead of price spikes:

  • The mtgfinance community
  • Spread
  • The Magic Online metagame

The MTGFinance Community

Keeping a finger on the pulse of the mtgfinance community is the most obvious one and I think most of you readers would already be doing this. Below is my reading list for mtgfinance and go-to resources for mtgfinance discussions.

First off are the financiers to follow on Twitter.

MTGPrice writers:

Other mtgfinance writers:

Listening to Brainstorm Brewery is a great way to keep up to date with the latest in mtgfinance. As a ProTrader, you get early access, so don’t skimp on the opportunity to hear the Brew crew’s pick of the week a day before everyone else finds out!

It is also worth checking out format-specific podcasts if you are interested financially in a particular format but do not have the time to engage in the format as much as you’d like to. I love EDH, and I play EDH when I have the time, but being the Spike I am, Standard always takes precedent as it is a PPTQ format. I am interested in the finances of EDH for two reasons: A) I would like to get my foils before they spike. B) Being the most popular casual format, EDH is an important factor to consider when evaluating a card’s long-term potential. The power of EDH-demand as a price driver should never be underestimated. Ugin, the Spirit Dragon is a contemporary example. Recently I have started to listen to The Command Zone and I’ve discovered that a number of cards which I have relegated as unplayable actually commands an interest in EDH.

Lastly, there are the forums. There are two mtgfinance-dedicated subreddits as of writing. The older one, r/mtgfinance is a compendium of articles and the newer one, r/mtgmarketwatch discusses individual cards.

And of course, the ProTrader private forums. If you have yet to check it out, the ProTrader forums is where you could find robust discussions about the latest card trends, the latest financially relevant developments in metagame and tips to help you get cards on the cheap. More importantly, you can find most of us MTGPrice writers actively engaging in the ProTrader forums discussions.

Spread

A card’s spread provides us with a metric to evaluate a card’s future price trajectory in an objective, unbiased manner.  Spread is the percentage difference between a card’s fair trade price and its best buylist price. Spread is an indicator of market demand for a card: if stores are increasing their buylist price while the retail price of a card remains the same, it tells us that:

  1. The demand for the card is increasing.
  2. The card’s current retail price would not likely hold as vendors adjust their retail price to complement their increased buylist price.

Jared Yost wrote a good article on spread a while back and I would definitely recommend reading his article to a more detailed explanation on spread.

A card’s spread could help inform us about likely trajectory of a card. For example, Ugin, the Spirit Dragon‘s surprisingly low spread is a good indicator that we would unlikely see his price tank in the short-term, as Jared elaborated in his Fate Reforged spread review.

Of course, don’t make your decisions based on spread alone. There could be a multitude of factors affecting a card’s spread. Spread is an objective metric to help you decide if a card is undervalued or not on top of your subjective evaluation. For example, Sarkhan Unbroken has a ridiculously low spread of 26% as of writing. His fair trade price is $16.49 while his best buylist price is $12.21!

One of the convenience of using MTGPrice to check the price of singles is the ability to view the buylist price of major vendors in a single page. Upon closer inspection we can see that there is only one vendor who is buying Sarkhan Unbroken at $12.21 (though they are buying 20 copies) and that particular vendor only ramped up their buylist price today. Could it be due to Andrew Cuneo’s spicy Temur ramp list which debut yesterday at the Standard Super League? I would not pick-up my Sarkhan Unbroken yet, unless I see other stores follow suit. If other vendors start ramping up their buylist price for Sarkhan, and if I start seeing Cuneo’s Temur list pop up on Magic Online daily events, or this weekend’s StarCityGames, I would start securing my own copies of Sarkhan Unbroken (disclaimer: I don’t have any Sarkhans yet as I’ve been picking up the blue Dragonlords rather than planeswalkers prior to the overall price spike for Dragon of Tarkir).

Speaking of tournaments, the next resource I use to help inform my mtgfinance pick-ups is the Magic Online metagame. Before I go on to discuss using the Magic Online metagame as a tool to help you identify potential breakout cards, I would like to make a little note about using Magic Online trends to make paper decisions.

Magic Online Trends as Precursors to Paper Trends

Magic Online trends are potent precursors to paper trends during the first few weeks following a set’s release. Magic Online is a testing ground for grinders and pros so when there is increased demand for a particular card, there is good chance the demand would translate into paper Magic soon, when the deck breaks out in large paper tournaments.

Master of Waves started spiking on Magic Online a few days prior to Pro Tour Theros even though it saw no play in the StarCityGames Open during the first weekend of Theros‘ release. The only explanation I could come up with was that the price hike on Magic Online before the Pro Tour was driven by Pro Tour players testing Mono-Blue Devotion, which turned out to be the breakout deck of the Pro Tour. Likewise, Dragonlord Ojutai was the most expensive Dragons of Tarkir card on Magic Online for weeks, but paper Dragonlord Ojutai only overtook the price of Narset Transcendent this week on paper. It should have done so a while back as Narset was barely seeing play while multiple copies of Dragonlord Ojutai were played in both Esper Dragons and Ojutai Bant, two tier one decks in the current Standard metagame.

The weakness of using Magic Online trends as a predictor for paper trends is that Magic Online trends are driven primarily by competitive demand. And it works best only during the first few weeks following a set’s release, before the set’s supply on Magic Online gets bloated by Magic Online’s never-ending drafts.

I could be wrong, and Magic Online price movements could still be a reliable predictor even when the set is relatively mature. But I would need to look more into that, and in the mean time, I would err on the cautious side and only use Magic Online price trends only during the first weeks of a set’s Standard lifespan.

What I am interested in Magic Online however, is the metagame.

The Magic Online Metagame as a Precursor to the Paper Metagame

There are not many good things to be said about Magic Online, but one of them is that Magic Online allows us to peer slightly into the future of the evolving competitive metagame, courtesy of being the testing and practice ground for grinders and pros. The Magic Online impact on the evolution of the Standard metagame was so prevalent that Wizards restricted the publication of Magic Online daily event results to only one daily event per day in their efforts to slow down the rate at which Standard was getting solved. A few years back, we used to be able to see the results of every daily event that took place and there were (and still are) multiple daily events per day.

Whenever a new deck or a novel twist to an existing archetype finishes in the money (3-1 or 4-0) multiple times in Magic Online daily events, there is a good chance we could see it in an upcoming StarCityGames Open or Grand Prix. Larry Swasey took down a Magic Online PTQ with Jeskai Midrange before Mitchell Manders used the same deck to win Grand Prix Bilbao a week later and brought widespread attention to the archetype.

Keeping a close eye on the Magic Online metagame helps you identify emergent archetypes before they debut on paper. That may not translate into finding undervalued cards all the time, as new archetypes using different combinations of old cards would not drive prices.

However, sometimes you may stumble upon the next big thing before it becomes common knowledge. Right now, the most popular deck in the Modern daily events is Grixis Delver. The Modern metagame is not exactly at the forefront of the Magic community right now as the current PPTQ season is Standard and we do not have a major Modern event until Grand Prix Charlotte in mid-June. Grimes’ Delver runs three Tasigur, the Golden Fang. Tasigur is trending down at the moment. I have just completed my playsets of Tasigur last week. But I will be picking up more Tasigurs when Fate Reforged hits peak supply in late May, a month before we switch to the Modern PPTQs. The banana-king may return a profit sooner than I initially expected.


 

The Most Expensive Dragons

By Guo Heng

Today’s article is going to start off by picking up where last week’s article left off before delving into this article’s main topic – the most expensive dragons in Magic’s history – which was inspired by the first segment of this article. I wrote in-depth about Ugin, the Spirit Dragon‘s financial fate last week, and a reader wanted to know more about the future of the Ugin’s Fate alternate art Ugin, which I left out.

Ugin, the Spirit Dragon, by Chris Rahn.
Ugin, the Spirit Dragon, by Chris Rahn.

I did not discuss the alternate art Ugin in my analysis last week as the article was already approaching 3,600 words and I thought there would not be too many people interested in reading about the finance of an extremely rare card. After all, how many people out there owns one?  Turns out I was wrong. There were indeed readers interested in the financial fate of the coveted Ugin’s Fate promo alternate art Ugin, which we shall refer to as ‘Blue Ugin’ from now on, as Ugin looks like he was in cahoots with Heisenberg in Chris Rahn’s art.

Let me start by saying that I had the chance to buy Blue Ugin for $50, but I passed it on. I thought $50 was the ceiling for Blue Ugin. Its not even foil, which lowered its collectibility and price in my eyes. I thought Commander players would prefer to run shiny Ugins in their decks (back then, I assumed Ugin’s eternal play demand – foils- would solely come from the Commander crowd).

I was so wrong.

Apparently a card’s scarcity was a more powerful price driver than I had imagined. Blue Ugin shot up all the way to $200 on eBay following Fate Reforged’s prerelease weekend. In retrospect, it was resoundingly obvious: Blue Ugin was a rare combination of an iconic card and extreme scarcity, and players and collectors were willing to pay Tarmogoyf price for it. Blue Ugin has now settled at $180 on StarCityGames, and around $130 to $150 on eBay as of writing.

I guess I overlooked the fact that the supply of Blue Ugins in the world would be capped at the number of Blue Ugins that were opened over the prerelease weekend.

Or is it?

Judge Foil Blue Ugin?

Here comes the wild card in determining the long-term potential of Blue Ugin. In my previous article, I established that the price of Ugin, the Spirit Dragon is unlikely to tank much as he is one of those rare few cards that has appeal in every single format except for Vintage (for now). Check out the article for my explanation and supporting evidence on how I arrived at that conclusion.

Which means the price of Blue Ugins can only go upward from here, assuming the assumption that the last Blue Ugin was opened on Fate Reforged’s prerelease weekend. However, I am beginning to think it may not be so.

To reiterate what I’ve touched on last week, it makes business sense for Wizards to reuse Chris Rahn’s art for another printing of Ugin, but I doubt Wizards would recycle Chris Rahn’s art for a Duel Deck reprint. Wizards are well aware of the secondary market and they do respect the fact that players and collectors paid a hefty sum for their cards (Good guy Wizards).

I am of opinion that the biggest risk to the price of Blue Ugins is a judge foil reprint. I proposed last week that we would most likely see Blue Ugin as a judge foil within the next few years, rather than a widely accessible reprint. Judge foils have always been used as an avenue to release highly sought after Commander and eternal staples in alternate art form and Ugin definitely fits the bill for a Judge foil reprint. Plus I can’t be the only one who thinks Chris Rahn’s art would look absolutely impressive in foil.

What would a judge foil reprint do to Blue Ugin’s price? I think the current non-foil version would definitely lose some of its allure and price. Blue Ugin commands a higher price than set foil Ugin as Blue Ugin is currently the rarer version. A judge foil reprint would eclipse that and it would garner aesthetic points for being in foil. You know, from Metalworker players who want to foil out their Ugins.

How much would the price of Blue Ugin drop? It’s hard to say for sure, but we can make a deduction based on a few assumptions. First off, we know that the supply of non-foil Blue Ugin from Ugin’s Fate packs would remain the same. There will be a small number of new Blue Ugins entering the market from unopened Ugin’s Fate booster packs being opened some time in the future. For the purpose of our deduction, we can consider that very sight bump in supply to be insignificant.

Secondly, we can assume that the supply of Blue Ugin is likely to be lower than that of the set foil Ugin. Fate Reforged is being drafted for half-a-year, and foil sets are being redeemed off Magic Online. Putting those two assumptions together, it is safe to conclude that the price of Blue Ugin would unlikely drop any lower than set foil Ugin, which is currently at $97, even in the scenario where Blue Ugin is reprinted as a judge foil, based on the merit that Blue Ugins are scarcer.

If we do indeed see a Blue Ugin judge foil in the future, we can assume that the non-foil Blue Ugin would still be more expensive than a set foil Ugin, but at a lower margin than the extra $30 – $50 it is currently enjoying. I am confident that the price of set foil Ugins would go on a gradual upward trajectory like that of the foil Eldrazis. Which means by the time we see a Blue Ugin judge foil, a set foil Ugin could be worth $120 – $130 and even if a non-foil Blue Ugin were to be worth a mere $10 – $20 more, Blue Ugins would probably still command a price range of $130 – $150. Which is it’s current price.

If you happen to own a Blue Ugin, I don’t think they will drop in price, even in the scenario of a judge foil reprint, due to Ugin’s long-term appreciation making up for lost value from reprint. However, if the judge foil reprint does not happen, congratulations, you have just bought a piece of Magic history that could very well have no ceiling in the long-run.

Magic history? While writing about the price of Blue Ugin, being a dragon aficionado and collector, I pondered about where Blue Ugin would rank among the most expensive dragons in Magic’s twenty-two year history. Which led me to dig through the price of all the dragons ever printed in Magic.

Here are the seven most expensive dragons in Magic.

7. Nicol Bolas From the Vaults: Dragons Foil, $46.40

Back in the old days.
Back in the old days.

It is slightly ironic that Ugin’s archnemesis, Nicol Bolas follows Ugin on the list of most expensive dragons, although here we see Nicol Bolas in his younger, svelter, pre-planeswalker-spark Elder Dragon body.

Nicol Bolas is the only dragon on this list whose price I am unable to explain. All his other printings, including the Time Spiral foil are not worth much. Nicol Bolas  has been hovering around $50 for years and he is not exactly popular as a commander. Maybe it’s D. Alexander Gregory’s new art in which Bolas was described as one who looks like he works out at the gym after a hard day of charring souls and crushing cities.

6. Scion of the Ur-Dragon Foil, $74.01

It’s the Scion of Err… Dragon.

Scion of the Ur-Dragon has always enjoyed a high foil multiplier, being the sole go-to commander for five-color dragons. Scion foils were hovering around the $30s for years on the back of Commander demand. Foil Scion spiked to $50 at the end of last year in anticipation of the influx of dragons from Dragons of Tarkir and once more to $70 in the middle of March this year.

Scion of Ur-Dragon is pretty insane with the addition of the young versions of the Dragonlords from Fate Reforged that grant your dragons a trigger when they attack. An alpha strike with Ojutai, Soul of Winter and a Scion mimicking Nicol Bolas is good times. Don’t get me started on Atarka, World Render.

5. Foil Scourge of the Throne, $91.97

Scourge of Commander

Scourge of the Throne spiked in early March from $7 to $15 and its foil went from $60 to $90. As with Scion of the Ur-Dragon, Scourge of the Throne’s price was driven solely by Commander demand, explaining its high foil price.

Scourge seems to be designed with Commander in mind. It has a splashy effect that is viable in no other format but Commander, and Scourge allows you to dabble in the politics of Commander games (unlike say, Thundermaw Hellkite who just Hulk smashes an unfortunate opponent).

Conspiracy is a set chock-full of Commander and eternal-playable cards, as is prevalent from the huge foil multiplier the set’s most expensive cards command. While the set’s print run was not limited, it is fading further and further away into the recesses of time. Conspiracy was well received and there are rumors about the possibility of Conspiracy 2 next year.

4. Niv-Mizzet, the Firemind 2006 Champs Foil, $129.99

Wizards have a thing with promos. Players love them, and Wizards loves handing them out as event prizes or participation promos.  Most of the time they are worth little, but they are some the most beautiful cards to see the light of day. Sometimes they are worth quite a little. Occasionally we stumble upon one that is worth a fortune.

The full art foil Champs promo Niv-Mizzet, the Firemind is in the later category.

The most fabulous dragon in Ravnica.
The most fabulous dragon in Ravnica.

Foil full art Niv-Mizzet was given out to the winners of Champs in 2006. It’s easy to see why Niz-Mizzet is worth so much. Todd Lockwood’s art is drop-dead gorgeous, Niv-Mizzet is a fun (or broken) commander, and Niv-Mizzet is one of the coolest dragons in Magic lore.

The only downside is the removal of Niz-Mizzet’s flavor text. The Guildpact version of Niv-Mizzet had one of the coolest flavor text in any Magic card. The one from the From the Vaults: Dragons version is pretty witty too.

3. Blue Ugin, $165.00 – $179.99

Give me all your money, said Ugin.
Give me all your money, said Ugin.

Near-mint copies of Blue Ugin could be found on TCGPlayer from $165 and StarCityGames is doing him for $179.99. eBay listings were closing at $130 – $150 as of writing. I’ve ranked Blue Ugin based on his retail price here as the other dragons were ranked similarly.

2. Zodiac Dragon, $263.99

The only Zodiac that was worth anything. Well, a lot.

Zodiac Dragon comes from the extremely difficult to find Portal Three Kingdoms set which was sold only in the Asian market. Home to inordinately expensive Legacy key pieces like Imperial Recruiter and Imperial Seal, and Commander high-end cards like Ravages of War and Capture of Jingzhou, Portal Three Kingdoms boasts one of the highest total set price among all Magic sets. Zodiac Dragon was one of the 12 Zodiac creature cycle, all of which are worth nought except for Zodiac Dragon.

Zodiac Dragon sees no play in any format, and the dragon’s stats are considered disappointing in this age of Magic. Zodiac Dragon nevertheless commands a price tag higher than that of Tarmogoyf courtesy of being one of the rarest dragons in Magic. And that art. Is the dragon flying or running?

1. Alpha Shivan Dragon, $1599.99

The mintiest of them all.
The mintiest of them all.

I was surprised that the most expensive dragon you could buy was not Zodiac Dragon, but rather a near-mint BGS 9 Alpha Shivan Dragon from StarCityGames.

An Alpha Shivan Dragon is veritable piece of Magic history. It was the first dragon in Magic. It shaped the way red turned out to be in the color pie, as Richard Garfield recalled in booklet found in From the Vaults: Dragons:

The biggest effect of Shivan Dragon on how the Magic game turned out may be that it’s the biggest reason red has flying. Of course, Magic had to have a dragon, and what with the fire and the destruction and the traditional mountain home, it was a shoo-in for red. But it also had to fly, and red was the magic of earth – the least likely element to get airborne. This was wrestled with for a while, and eventually we decided that big fliers in red were okay. But without Shivan Dragon leading the way, perhaps fliers in red would be as rare as direct damage in blue!

And Shivan Dragon was one of the first chase rares in Magic. It was rumoured to be worth as much as a Black Lotus during the early days of Magic ($25). A big portion of the price of the Shivan Dragon above stems from the fact that it is a BGS-graded Alpha card. An near-mint ungraded one is just $999.99, and would still top the table of most expensive dragons in Magic.

The Priceless One

One more thing.

It’s a challenge both to cast, and pronounce the dragon’s name.

Shichifukujin Dragon was not on the most expensive list because it is one of a kind. As in there is only one Shichifukujin Dragon in the world, and as with unique object like these, they are priceless.

Shichifukujin Dragon was created to commemorate the opening of the DCI Tournament Centre in Tokyo and I believe it is still hanging there. Mark Rosewater regaled the story of how Shichifukujin Dragon came into existence in an article written ten years ago. Below is an excerpt from Mark’s article:

To commemorate the opening of the DCI Tournament Center, Wizards was asked if they could design and draw (just as I designed both cards, Chris Rush illustrated both of them – back then he was a full-time Wizards employee) a card called Shichifukujin Dragon. Shichifukujin is the name of the Seven Deities of Good Fortune in Japanese mythology. The card was very symbolic as it was supposed to bring good luck to the DCI Tournament Center. Chris Rush drew a lovely picture. And just as it was about to go off to press, it occurred to someone, “Hmm, perhaps it might be cool to put actual rules text on the card.”

So they came to me. They needed a cool mechanic that matched the name and art. Oh, and I had an hour. As the art had to be a seven-headed dragon, I looked for a mechanic that played into the card’s seven-headedness. That is where I came up with the idea of the seven +1/+1 counters. Somehow seven heads got me thinking of hydras and I came up with the idea that it could grow new heads. But to do so it had to make itself more vulnerable for some duration of time. As I played around with the card I came up with the idea of losing two +1/+1 counters to get three… at the end of the turn. I quickly had the rules text templated (by a trained professional – I know better than to get involved in templating) and handed off the card.

There you go. The most expensive dragons in Magic’s history. If you know of any dragons I’ve missed after painstakingly browsing through every card in Gatherer with ‘dragon’ in its name or text and checking its price, do share with me in the comments below, or catch me on Twitter @theguoheng. Do drop a comment below too, or tweet to me if you just want to share you love of dragons.