Why is Underground Sea tanking in price so hard? I have recently been selling some magic cards and it looks like they are selling for $175 or so. If I want to get rid of 2, should I sell asap or wait a while and see where they end up?
The simplest answer I can give you is that there is no market demand for underground seas.
Digitek actually hit the nail on the head pretty well.
Without adequate market demand, the prices of even dual lands will crack at some point as people are going to need the money sooner or later.
In my opinion, speculators have been driving the magic market for quite some time now. I've been slowly selling my staples for the past year now, and in all honesty half the time I actually manage to sell cards it's because for some reason or another my listings happened to catch the eyes of speculators at the moment because of some tournament. The rest of the time, my staples don't move very well.
There's a major lesson to take away from the underground sea issue and the 93/94 issue:
The first is that speculators have been driving the market. Speculative demand is a zero sum game. Since speculative demand isn't actual or real demand, you're only chance to make money from other speculators is to out-trade other speculators. This is outright gambling. It's like calling poker an investment. You only win to the extent that someone else loses--the very definition of a zero sum game.
The second lesson from legacy, vintage, and the new 93/94 format is that apparently the real demand from legacy and vintage is very very small. How do I know this?
Look at this way. What cards are speculators NOT speculating on? Underground Sea. Underground Sea is a staple of legacy and even of Vintage.
If the price is declining, and there is no speculator demand, then by definition the only demand left for understand sea is actual real economic demand based on tournament play.
If underground sea is dropping in the face of real demand, then that means that legacy is declining.
I'm not going to go the extra mile and say legacy will decline in the long term, but if underground sea is a good bellweather of the popularity of the format (and I think it is),
it means the legacy is declining and we should expect a drop across the board for all legacy staples.
It also means to me that one should be very very cautious and not buy up any reserve list 93/94 format staples unless you want to speculate against other speculators.
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WUHanna, Pillowfort's NavigatorUW WBRAleshacratsBRW UBRGrixis Pew PewRBU URGYasova the ThreateningGRU BGGlissa the ArticiferGB WUSygg MerfolkUW RSquee, Value NabobR
Why buy one Underground Sea when you can buy four Wasteland?- Legacy B) Why buy one Underground sea when you can buy four Cryptic Command?- Modern Etc.(Rough estimates)
As far as Legacy goes. I am not interested in the format and have met relatively few people that care about it, honestly. Seas were at $100, they were gobbled up, but at $175 it's just tainted sickness. I would rather buy unlimited. There are so many online that the stores can't get rid of. I expect them to fall through the cracks at cheaper prices here and there.
Yeah, when I saw the Judge Foils at a GP last march at or less than what the normal versions are, I went ahead and bit on one for $30. It seems like nearly every Judge promo that is even close to a staple just jumps tremendously when it goes out of print.
I`m not sure if it counts as a Legacy card for the purposes of the thread even though I do actually play it, but what happened with ATQ Triskelion? It jumped from 8.5 to 22.5 a few days ago.
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The simplest answer I can give you is that there is no market demand for underground seas.
Digitek actually hit the nail on the head pretty well.
Without adequate market demand, the prices of even dual lands will crack at some point as people are going to need the money sooner or later.
In my opinion, speculators have been driving the magic market for quite some time now. I've been slowly selling my staples for the past year now, and in all honesty half the time I actually manage to sell cards it's because for some reason or another my listings happened to catch the eyes of speculators at the moment because of some tournament. The rest of the time, my staples don't move very well.
There's a major lesson to take away from the underground sea issue and the 93/94 issue:
The first is that speculators have been driving the market. Speculative demand is a zero sum game. Since speculative demand isn't actual or real demand, you're only chance to make money from other speculators is to out-trade other speculators. This is outright gambling. It's like calling poker an investment. You only win to the extent that someone else loses--the very definition of a zero sum game.
The second lesson from legacy, vintage, and the new 93/94 format is that apparently the real demand from legacy and vintage is very very small. How do I know this?
Look at this way. What cards are speculators NOT speculating on? Underground Sea. Underground Sea is a staple of legacy and even of Vintage.
If the price is declining, and there is no speculator demand, then by definition the only demand left for understand sea is actual real economic demand based on tournament play.
If underground sea is dropping in the face of real demand, then that means that legacy is declining.
I'm not going to go the extra mile and say legacy will decline in the long term, but if underground sea is a good bellweather of the popularity of the format (and I think it is),
it means the legacy is declining and we should expect a drop across the board for all legacy staples.
It also means to me that one should be very very cautious and not buy up any reserve list 93/94 format staples unless you want to speculate against other speculators.
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GAzusa, Lost but RampingG
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UBRGrixis Pew PewRBU
URGYasova the ThreateningGRU
BGGlissa the ArticiferGB
WUSygg MerfolkUW
RSquee, Value NabobR
As far as Legacy goes. I am not interested in the format and have met relatively few people that care about it, honestly. Seas were at $100, they were gobbled up, but at $175 it's just tainted sickness. I would rather buy unlimited. There are so many online that the stores can't get rid of. I expect them to fall through the cracks at cheaper prices here and there.
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Stay reasonable, be mindful of your expectations and don't feed the trolls.
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