The Misconceptions of Determining Value

"It's not worth anything if you're not selling it."

"In order to determine the value you need to auction it."

"This type of misprint is worth 1.5 times the normal value of the card"

I'm going to do my best to not make this a rant, but statements like this are a huge pet peeve of mine.  They are not true and they are continually offered as advice to people who are looking for estimates and information about their misprints.

It turns out that people have been thinking and talking about the concept of value for a very long time.  I'm not an economist, but there's some pretty intriguing Wikipedia entries which you can check out here and here.  To avoid getting into a theoretical or philosophical debate on the concept of value, I'll just use the dictionary.com definition:

From dictionary.com.  Edited to remove non-relevant definition #1 from image.

From dictionary.com.  Edited to remove non-relevant definition #1 from image.

Statements that suggest that a misprint has no value unless it is being sold are entirely contradictory to the very definition of the word.  Value is a representation of potential.  It's equally dependent on the willingness of the buyer to pay a specific price as it is for a seller to sell for a specific price.  A lot of times an auction is actually a really poor way to determine the value of an object.  Sometimes an auction goes unnoticed and an item goes for less than it would had it proper visibility.  Other times there can be a bidding war which can escalate way past the historical market price for an item due to stubborn competitiveness.  Black and white representations of market value and supply vs demand are sound theories, but the reality we live in is covered in greys.  I really like the following paragraph from the wikipedia article:


Note that economic value is not the same as market price, nor is economic value the same thing as market value. If a consumer is willing to buy a good, it implies that the customer places a higher value on the good than the market price. The difference between the value to the consumer and the market price is called "consumer surplus"[1]. It is easy to see situations where the actual value is considerably larger than the market price: purchase of drinking water is one example.


If you've read my article about determining the value of misprints you already know that there are several factors to consider when appraising a misprint.  The ability to accurately appraise misprints is something that requires experience, skill, and dedicated and continual observation of the market.  Applying standard multipliers to types of misprints is an exercise in futility for all of the reasons and definitions of value mentioned above.

Misprint economics aside, using one of the three quotes mentioned at the beginning of this blog post, or any variation is simply a dick move.  People are requesting information.  A lot of the time their intent is to sell and they're looking to be informed about the product in which they're trying to sell so they can feel that they're making good decisions.  Throwing flawed and generic responses at them is not only unhelpful, but can also pressure people into making bad decisions.  It's bad...just don't do it.  No, really.  Please stop.  If you don't agree, feel free to leave a comment here explaining why or send me an email!

Happy 1st Birthday misprintedMTG.com!

Holy crap, has it already been an entire year?  Yes.  Yes it has.  One year ago today I released misprintedMTG.com to the masses (you guys).  The response has been incredible!  I thought it would be really cool to share some data in celebration of our first year:

In one year, over 15 THOUSAND unique visitors have checked out articles on misprintedMTG.com!

This is the number of sessions per month.  It's been growing over time, which means that we've been getting more popular!  Awesome!

People from each country highlighted blue have visited misprintedMTG.com!  That's 116 different countries!!!!!!

These are the top 10 countries that visit the site.  Not on the list?  Step up your game and visit more often!

The beginner's guide to misprints and rarities is more popular than the website's homepage!  There's also a typo in the URL which I've declined to fix since I don't want to mess with my analytics data!

It's been an awesome year and I look forward to making more content for you guys in the next year.  I'll keep releasing more episodes of Misprint Mailbrag and have a bunch of other videos in the works so be sure to subscribe to my youtube channel!  It's really been an honor to make even such a minuscule splash in the great ocean of the internet, and it wouldn't be possible without all of you.  Thank you to everyone who's helped me build the site, and thank you guys for deeming me worthy enough for you to take the time to read my words.  Happy Birthday misprintedMTG.com!

Ixalan DFC's aren't and won't be worth SQUAT!

Ugh, thanks WoTC...

So you may have seen this recent announcement published by Wizards of the Coast admitting to the use of the incorrect cardstock on an undisclosed amount of dual faced cards (DFC for short) in Ixalan.

As a result of this announcement, the misprint community has seen the inevitable flood of people asking if their cards are misprints and flooding marketplaces like eBay with all these new "misprints" they've opened.

 

Even worse, there are people with significant youtube followings, who know little about misprints, spreading misinformation by directly comparing this mishap to Summer Magic!

**Facepalm**

I'm here to set the record straight:

IXALAN DFC's WILL NOT BE WORTH MORE THAN THE NORMAL VERSION OF THE CARD!  NEVER.

If we look at eBay right now we can see that people are hoping that misprint collectors will buy these magical new misprints at exorbitant premiums.  There's a small flood of flashlight photos and "Ixalan Misprint" listing titles all over eBay,

Holy crap!  Only $500 for a playset of misprinted Growing Rites?  Sign me up!  **even harder facepalm**

So are these cards even selling?  Admittedly, a few of them are, but not for the insane prices that some people are putting them at.  If you've read my article about how to figure out the value of your misprint, you'll recall that I brought up supply and demand.  Any demand for these cards is going to dry up very quickly.  The types of collectors who want to own a few or all of these most likely have already got them.  The more experienced collectors won't be in a rush though and if they don't have them yet will wait for the over-hype to pass before picking them up.  What I'm saying is that there's LITTLE TO NO DEMAND for these cards.  A few have sold on eBay at slightly higher prices, but that ship has sailed.

Yes...2 listings got lucky, but don't expect that to be the norm.

So now that we've established a baseline for demand, let's talk about supply.  For WotC to make a PA about the error means that they are expecting multiple people to run into these and they needed to acknowledge them to avoid any potential competitive REL issues.  From that, we can infer that a significant portion of product has been affected.  This is supported by the fact of how many people are finding these cards now.  It's safe to say that this is a very common error.

If you wan't to figure out the price of a very common production error over the long term, you need to take a look at the other very common errors that have popped up throughout the history of magic.  I'm talking about the hairy Runeswords, the shifted Gaea's Touch, Alpha Unsummon, and the myriad of other similar examples throughout magic's history

Let's compare our Ixalan DFC to one of the more valuable recurring misprints. 

Unlike the Lost Vale to its right and the other 3 aforementioned common misprints the Serra Angel/Time elemental is visually stunning.  Anyone who knows either of the 2 cards or anything about magic can immediately tell that there's something wrong.  To top it off Serra Angel is a very collectible card.  There are reasons that this card commands a $75+ price-tag.

The Lost Vale on the other hand requires a flashlight to even verify that it is a misprint.  Otherwise it doesn't stand out at all.  It's arguably less noticeable than the hairy runesword.  People are also unsure about if these cards will be considered marked due to the tangible difference from normal cards when shuffling.  That's why it will never carry a significant premium.

I hope after reading this that I've cleared up any potential confusion about the Ixalan cardstock issue.  I need your help.  Take this blog and share it.  Stop the rumors about DFC's being valuable misprints from spreading further.  The misprint community has become a bit of a dumping ground. Normal MTG players are opening minor misprints more than ever and because of misconceptions about what is collectible, we see floods of cards that are not.  This may not seem like a big deal, but it's damaging to the health of our hobby.  Imagine that you're watching your favorite tv show, and every 7 seconds a trailer for a show that you may be interested in interrupts your viewing experience.  It'll get very old very quickly.  Thank you for helping me spread the word!

You know that moment when...

That moment when you forget to place a bid on an eBay auction you’ve been watching for 2 weeks.

That moment when you get outbid on something after you’ve placed your ‘last bid’ on an item and then keep bidding out of sheer stubbornness.

That moment when you have expensive cards that need a spot in a binder but you’re too lazy to find one at the moment so you just toss them into a pile on your desk.

That moment when you’re super amped about that amazing deal you just got on a super insane rare item but then you need to wait a month before it arrives.

That moment when you check the tracking info on something you’ve bought and you learn that it’s arriving a whole day before the estimated delivery time.

That moment when you realize that you’re the only person who thinks that you got a great deal on that super insane rare item (which you’re still waiting on).

That moment when you see a newly discovered misprint for the very first time only to learn over the course of the next three months that it’s very common.

That moment where you saved up for a long time to get that one thing you really wanted, only to have something equally, if not, more amazing come up for auction the very next day.

That moment when you place a bid on that equally, if not, more amazing item even though you know better as your hobby budget rolls over in its grave.

That moment where you learned that one thing you always believed to be true turned out to just be a myth which you may have partially contributed towards spreading…whoops ;)

That moment when you open a chase mythic or masterpiece and don't care because it's not a misprint.

That moment when you actually consider folding to a $1 bid increase.

That moment when the guy at your LGS keeps showing you all of these “miscut” cards even after you’ve already explained that it needs to show a 2nd card to be considered miscut, but saying so again would just be rude.

That moment when you look through your entire collection and just really enjoy it.

I'm a SNOB, but your misprints are still GARBAGE

Misprinted Magic the Gathering cards are weird.  Even weirder yet, are the folks who collect and/or sell them.  Whether you're a collector or a seller, you should have a base understanding of what's desirable and what isn't. The tricky part is that as new cards are printed, the trends and population of misprints change.  To the individual who opens a misprint, but is not familiar with the market, to them their card is usually a god given gift from the heavens, even if it's 1 pixel off from the normal version of the card.  I'm tired (and so are all of the other collectors) of seeing your garbage.  Here is a list of misprints that I just don't care about any more, and neither should you.


"Slightly Faded"

Oh hey, it looks like a Voice of Resurgence...oh, when you hold up up next to another one you can see a slight difference?  Here's a gorillion dollars!

Oh hey, it looks like a Voice of Resurgence...oh, when you hold up up next to another one you can see a slight difference?  Here's a gorillion dollars!

  Ok, this one is a matter of severity because the core concept behind the misprint is actually cool.  What's happening is that for one reason or another, the layer of black ink being printed on the pass for the art and mana cost is faded or missing.  The problem is that this error has become insanely common with recent sets, and the variations of the severity.  Unless you have the most extreme possible case, don't bother showing anyone.


One Side Normal, the other Slightly Offset  

Doesn't show a 2nd card, or the edge of a sheet, don't bother  posting...

Doesn't show a 2nd card, or the edge of a sheet, don't bother  posting...

Another severity based issue.  While this misprint is visually similar to offset/miscut cards, it has historically gotten special treatment due to the difference in the technical process that ends up generating these misprints.  Well, guess what, it's time to apply the miscut rule to these misprints now.  If the "miscut side" doesn't show a 2nd card, or the edge of a sheet, don't bother wasting anyone's time posting your cards.


Missing stamps (includes partially missing stamps) 

  For this one I'm talking about the holostamps used to 'authenticate' rare and mythic rare cards. Since they've been implemented, there's actually quite a few variations of possible holo stamp errors (I'll update my beginners guide with the complete list soon).  When the stamp is missing or partially missing, it just isn't exciting anymore.  First, it's a really common error (this might be a theme of the article that you've caught onto).  Second, it's visually boring.

Missing holo stamps miss the boat on things collectors care about.  Don't sink the ship with your dead weight.

Missing holo stamps miss the boat on things collectors care about.  Don't sink the ship with your dead weight.


Slightly Smudged or Blurred/Bold Text

Following the theme of the article, slightly smudged text is common and visual appeal is entirely severity dependent.  The overwhelming majority of these misprints are garbage, and not worthwhile.  This is especially true with the recent release of Modern Master 2017, where this error is out en mass.


Slightly Offset Holo Stamps

Even cards from my own collection are not exempt from the harsh scrutiny of my snobbery.  I just don't waste people's time by posting them. 

Even cards from my own collection are not exempt from the harsh scrutiny of my snobbery.  I just don't waste people's time by posting them. 

Another severity based misprint!  The stamp needs to really be somewhere it's not supposed to be for anyone to give a f about these.  Let's say that the new rule of thumb is that if you can't place a stamp in between the position where the stamp is, and where it should have been, that it does not qualify as an error that anyone should care about.  I'm a snob, but...your misprints are garbage.


"But Jason," you say, "I sold a slightly (insert whatever lame misprint here) for like a gorillion dollars!  What do you mean nobody cares about these misprints?"  Ok, I get it, sometimes there are exceptions to the rules, but that doesn't mean that your misprints aren't still garbage.  Sometimes a garbage misprint on a highly desirable card still sells because obtaining decent misprints on those cards is extremely costly.  Also, you get folks who aren't always aware of what they're buying, who end up buying garbage thinking it's neat.  Yes I'm a snob, but your misprints are garabage <3.

We're Live!

We're live!  There are still a bunch of things I want to do to the site, but I feel that it's time I've made misprintedMTG.com available to the public!  Thank you to all the folks who took the time to look things over and give me feedback and help with the site!  You guys are the best!

Test Post

This is a test post!  I'm testing the blog by writing a few sentences with the word test in it.  Isn't this test cool?  Ok I guess this test isn't really all that special.  To make it special I'll include a special test card!