Archive for March, 2010

Over the past couple of months there has been much consternation and discussion in online forums and articles discussing the rise of prices in older Magic cards. There has also been much discussion lately of the Reserved List on the Official Reprint Policy.

In Stephen Menendian’s recent article Visiting Wizards, Reprints, and the Reserved List he posits that “You could print a million new Underground Seas in M11, and Alpha and Beta Underground Seas would probably not budge in their value or collectability. In fact, they might become more valuable!” Frankly, more asinine words and a conclusion based on many unaccounted for factors have rarely been written. The basic laws of economics tell us that if demand is relatively even and supply increases, price will naturally go down. Time and time again, history has shown us that when cards are reprinted (and supply is increased) they lose value.

When the original Chronicles set was released Magic players and collectors alike were taken aback and shocked. A “collectible card game” was reissuing some of the game’s most sought after and expensive cards, setting an alarming precedent. Cards like the Elder Dragons (Chromium, Nicol Bolas, Palladia-Mors, etc.) from Legends dropped from $30-40 to $5-10 within weeks. Legends printings of these cards can currently be had for $1-5 each, and Chronicles and Timeshifted copies can be had for $.25 to $1. Carrion Ants (from Legends) was a $30 card (based largely on collectibility and not the amount of them being played) dropped to $2 in a matter of weeks. Today a Legends copy of Carrion Ants is about $1 and the Chronicles reprint versions are about $.25 each. Erhnam Djinn was once considered the little brother of Juzam Djinn, as was once worth about $35-40 for an Arabian Knights copy. After it was reprinted in Chronicles the value dropped considerably, with today’s prices ringing in at $5-10 for an Arabian Knights original, and a Chronicles reprint clocking in at a mere $.25.

Psionic Blast was originally printed in Alpha/Beta/Unlimited and for a long time was a very sought after item, typically priced at $30-40 for Alpha/Beta copies and $18-25 for Unlimited copies. After it was reprinted in Time Spiral’s Timeshifted subset those same original copies are now selling for $15-25 for Alpha/Beta and about $4-5 for Unlimited, while Timeshifted copies can readily be had for $1 each.

Pithing Needle, which Stephen himself has reviewed in prior articles and is intimately familiar with, used to be a $15 card (this price, and all others I’ll talk about here are what I’ll refer to as the “street value,” or how much they can regularly be had for on eBay/MOTL/etc.). Pithing Needle was originally printed in Saviors of Kamigawa, and demand has always been steady but not overwhelming. I would argue that demand is about the same today as when it was originally printed and is played a moderate amount in many constructed formats. When it was reprinted in Tenth Edition the value dropped to around $9, and it has once again been reprinted in Magic 2010 (M10) and the value has dropped to an astonishing $3 or less. Demand has stayed roughly the same, yet the supply has dramatically increased, leading to a dramatic reduction in price.

For quite some time Meddling Mage remained valued at $10-14, even when it’s popularity and playability waned in Standard and Extended. It was rotating out of Extended finally as part of the Invasion-Prophecy-Apocalypse block and started to slightly fall in price to around $9, but it was then reprinted in Alara Reborn. So what happened to the price? Well, naturally since the supply doubled and the demand remained about the same the prices came crashing down. Meddling Mage from Invasion can now readily be had for about $5-6 and Alara Reborn copies go for about $4.

I could continue to cite example after example of where reprints have crippled the value of original printings, but I think if you’ve ever picked up (and understood) an economic textbook or spent time seriously buying and selling Magic cards, you probably get the picture. To suggest that reprints of cards like Dual Lands and Power 9 wouldn’t cripple the value of the original printings is either an uneducated, disingenuous, or intellectually dishonest point of view.

Another issue that Stephen ignores in his quoting of prices for Alpha/Beta/Unlimited/Revised/10th Edition/M10 for cards like Shivan Dragon and Birds of Paradise is the fact that there is a major drop off from Alpha/Beta to everything else, including Unlimited. As my teammate Jason Pare pointed out to me, you can’t have a serious discussion about reprinting cards like the Power 9 without looking at the fact that roughly 82% of the Power 9 that are in existence are not Alpha/Beta, but Unlimited. You know, the same Unlimited that Stephen shows in his chart amongst all of other printings that represents a small percentage of the total pool in his Shivan Dragon and Birds of Paradise examples. If Power 9 were reprinted the value of these would drop like a rock, decimating the value of 82% of the Power 9 overnight. The set collectors will still want their Alpha/Beta Power 9, but most other people would gravitate towards a cheaper and also black-bordered foil version for a fraction of the price. This migration would also signal a reduction in the price of Alpha/Beta copies for this very reason, albeit not as devastating as the huge loss Unlimited owners would see.

Part of the reason the Power 9 has increased to dramatic prices is because aside from the fact that they are some of the most powerful and rarest cards, they have never been reprinted and are currently never slated to be reprinted according to Wizards’ own published Reserved List Policy. They have essentially become Vintage Gold because the consumer has placed faith in the manufacturer that a set number of these exist (solidifying their rarity and collectibility), and because of this they can be viewed as a valid investment vehicle. Without this assurance from the manufacturer they would not be worth nearly as much.

The function of the Reserved List is to assuage fears of players and collectors that their collectible card game will actually maintain some semblance of collectibility. Wizards’ formally acknowledged the giant mistake they had made by printing Chronicles and created the Reserve List as a response to grant the consumer some basic protections. It represents a contract with the customer meaning “we (the manufacturer) will not violate your consumer confidence in us.” This contract with consumers was necessary following the backlash and departure of players following the release of Chronicles. By altering policy and breaking the Reserve List and changing course, Wizards of the Coast would have lied to their customers for the past ten years and effectively reduced any incentive to consider Magic cards any sort of investment or an actual collectible card game, as it has always been marketed as. To this end the Reserve List is accomplishing exactly what it was created to do.

In the past few years Wizards’ has exploited a loophole in the Official Reprint Policy that states that “All policies described in this document apply only to non-premium, tournament-legal Magic cards. Wizards of the Coast has and may continue to print special versions of cards not meant for regular game play, such as oversized cards.” They have designated foil cards as premium cards to fit the bill and to create a loophole to essentially allow them to reprint whatever they want (see: Phrexian Negator, Phyrexian Dreadnought, Intuition, Survival of the Fittest, Karn, Silver Golem, Yawgmoth’s Will, etc.). But looking at the wording of the revised Reprint Policy it says “All policies described in this document apply only to non-premium, tournament-legal Magic cards. Wizards of the Coast has and may continue to print special versions of cards not meant for regular game play, such as oversized cards.” Does this sound to you like their original intent with that exception was to print foil cards used for tournament play and as a mechanism to reprint hard to find cards to increase market supply? I don’t think so. The original intent appears to simply allow them to reprint things like the oversized cards they used to print, or box-toppers, or promotional items, or things of that nature that would not be used for tournaments and by actual players. But by designating foils as premium they have created a loophole with which they can twist the Official Reprint Policy and effectively negate the entire thing.

By using a loophole to reprint cards on the Reserved List and simply designate them as ‘premium,’ Wizards’ is shaking customer confidence, and the outcry by many players can be heard on whatever message board you fancy. But the biggest outcry is the unspoken one, by players who believe that Wizards’ will do the right thing and respect the Reserved List, which is their contract to the consumer. This outcry will not truly be heard until the point when we see the Reserved List being violated in a notable way. Creating something like From the Vault: [Underground Sea and a bunch of other Restricted List goodies], and then following it up with a bunch of other similar boxed foil sets would create a terrible precedent and would achieve the same thing as just reprinting cards in a modern edition. The same could be said for creating all foil (i.e. premium) booster packs full of Reserved List cards. This would decimate the consumer confidence that the Magic brand has achieved, and I believe would lead to the departure of a significant number of players. Many people drawn to games are smart, and they can probably tell when something is going the way of the Dodo bird, or is in the process of jumping the shark.

So if cards like Dual Lands and others are rapidly rising with the increase interest in Legacy, what can be done to offset this and make Legacy more palatable to the wallet? Check out our next article in this series,

2010′s Grand Prix Madrid has been an EPIC and LEGENDARY weekend. It isn’t easy to explain everything that happened this past days. There’s too many stories, too many great moments, too many friendly moments, too many people!!!!

I’m going to divide this report in three chapters. Each chapter represents one day: Friday, Saturday and Sunday (How smart!). So, before we begin with the first chapter, let’s get the picture of it:

Chapter I: You sir need forces!

My plain takes off at 11:40 from BCN’s new airport terminal. On the way to the airport I was listening the latest album from MIA to start getting in the mood. I unexpectedly meet many of my eternal mates there (including Ruben González, who managed to top8 at the GP as you will read in chapter 3). They were taking a plain a bit earlier tho, so I moved to my boarding gate and kept listening my music.

Once in Madrid, David Menor (a crazy taxi driver from Madrid and one of the best spanish dealers we have), came pick me up with his mercedes SLK. Dude, that was fast! He took me to his place and he packed his stuff before we went to a local “burger” (they call restaurants like that in Madrid) and had a 10€ menu: Raviolis with Pesto for starters followed by “Huevos fritos con chistorra y patatas” (go google translate it!).

That’s the kind of meal you do expect when you travel abroad. If you go to Italy, you want to eat good pizzas. If you go to germany, you want to eat good sausages. And if you go to Madrid you want to eat many things, including the “not-so-greasy-and-almost-cholesterol-free” eggs with chistorra and french fries. I forgot to take pics of it! Anyways…

After lunch we moved to my hotel, where I checked in and left my bag, and then we headed to the GP location. It wasn’t far.

Once there, we started greeting many well known friends, some other less-known came greet me, and we finally placed ourselves at the registration queue. It was around 17:30 when we arrived and it was crowded already. Four hours later, it was as crowded and the queue was the same or even longer. Before leaving, we were told that there was around 1600 pre-registered players, and that they got around 1500-1600 chairs only.

If lunch wasn’t enough energies to play properly during the GP, what comes next will actually make it. I can promise!

At 21:00 my friend Angel (aka Angelo) calls; he’s waiting for me downstairs at the hotel hall. I properly dressed for the occasion with a not-so-formal jacket + shirt + tie. Dressed enough for what was coming next.

We ask the taxi driver to take us to Hotel Hesperia, which he didn’t know… Once there, and while waiting for David, we moved to their lounge and asked the barman for a couple of cocktails. I went for a G’Vine + Sprite with natural grapes and Angelo tasted a London Gin with Tonic.

Minutes after, David shows up and asks for a Belvedere Vodka with raspberry juice that seemed quite tasty, actually.

David and Angel enjoying their drinks.

So, after the drinks we moved next door. Our destination was the 2 star Michelin graded restaurant Sant Celoni from Santi Santamaria. The place was nice, chic and really classy. Initially we were supposed to be four for dinner, but our friend Miguel (aka Juzam2) finally couldn’t make it.

We decided to go for the Menú Gran Gastronómico. I got real shocked with the outfit from the sommelier. He was walking around with a skirt-like thingie and with a HUGE GOLD necklace that was holding a big golden cloister. He looked more like Puff Daddy than a wine experte, I gotta say! Actually, we laughed when I suggested he looked like a mix between Gravesen (from R.Madrid) and John Malkovich.

What would you like to drink for starters? – He asked.

Catalan Cava - I answered.

There’s nothing better than drinking a good catalan cava. Well, there is: Drinking a good catalan cava in Madrid! Ok, drinking champagne beats both!

I took some pictures of the dinner, so I’ll just place here a slideshow for those of you who’d like to watch:

Food was excellent, seriously. We paid a lot for the whole meal (including the drinks and stuff), but it was definitely worth it. It’s a thing you should do once in a while, or present somebody you care or love with it.

We started around 22:00 and exited the restaurant around 1:00. It was probably one of the best eating experience I’ve had lately. 1000% recommended to any of you guys!

So, after the dinner we had the thought of going out and drink some cocktails at the new Sergi Arola’s lounge/bar. They supposedly have the best cocktails in Madrid… BUT! (there’s always a BUT), I had to be fresh and ready for the Grand Prix, so I decided to skip the fun and we headed back to the hotel.

If you ever drive with David, don’t expect to have a calmed ride! He decided that the best way to return was going through some creepy neighborhood that was filled with transsexuals, bitches and weirdos. Best moment was, when David decided to stop next to a guy/girl über tanned that looked like a boxing fighter just to piss us off and then a police car came  with the bells and lights on. Hahahaha, they scared the hell out of us!!!!! Anyways, in the end, we managed to scape from Moria land, and no creatures of the devil assaulted our car.

Minutes after I close the door from the hotel, Sergi and Toni knock the door. They were finally there, after a 5-6 hour road trip from Cabrera to Madrid. They went straight to bed because they were tired, and I still had some sleeve’ing up to do.

At 2:30 I finally go to bed.

To be continued…

You can now read the second and third parts of the report:

The GP Madrid epic report! Part II

The GP Madrid epic report! Part III

I’m back home from Madrid. WHAT A WEEKEND! We’ve had one of the greatest mtg parties of all times. Insane amount of people, including the new World Record of attendance in the history of mtg (2220 players); excellent organization, who solved quite well all the problems generated by having 2K+ players; tournaments ran very smooth all weekend; queues for Mark Poole were long but not endless, etc…

I got some really cool PIMP stuff to show you guys, lots of alterations (including another card altered by Terese Nielsen and Ron Spencer together!), some foil japanese and few other stuff.

I will write a more elaborated post tomorrow or the day after. I just wanted to let you know that I survived! Let me finish this post with a Michael Jackson classic!