After playing Magic: The Gathering for a long 3 years, I have already racked up a sizable collection of bulk. Most of the time it would probably gather dust as it is hard to sell it as a whole. Some people are true heroes as they are willing to pick it off you for a lower price but you save so much time and effort that would have been put into sorting them. Today, I interviewed a man who's primary source of MTG income comes from buying up people's collection and flipping them for profit. This man is Matt Briggs, a family man, father of 6.
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| A real family man! (Image courtesy of Matt Briggs) |
(SW is me ,of course, and MB is Matt Briggs)
SW: Let's start with some self introductions.
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| A happy couple. (Image courtesy of Matt Briggs) |
MB: Well, I'm 36, Married, father of 5 (soon to be 6). Played magic for about 12 years now. I've been much more focused on MTG finance for the past 4 yrs.
SW: Is MTG Finance your main source of income?
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| Image Source: http://www.exec-it.com/tag/cost/ |
MB: It is not. I'm an IT support tech for a small company as my day job. I use MTG to supplement my income, as well as to set aside money for a house.
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| City of Brass (Image owned by Wizards of the Coast, Art by Jung Park) |
MB: Absolutely. I feel fortunate to have learned from people locally, and through various online venues, on how to buy and sell effectively.
SW: How much would you say you have invested in the game and how much returns have you experienced?
MB: Well, in the first 2 years, I put in about $2k of my own money to get up and rolling. Haven't had to do anymore since then. I've returned approximately $25k from that $2k in these 4 yr. $25k being a conservative estimate. I didn't keep the best records the first year and half.
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| Kozilek's Return (Image owned by Wizards of the Coast, Art by Lius Lasahido) |
SW: Wow, that is an amazing amount of return! What are the top few things that you would like to share regarding your journey to such a huge profit margin?
MB: Well, looking back, I think the most important thing is to start small, and keep good track of stuff, in and out. Making sure to know buylists, market rates, etc. is also super critical. Knowing what you can expect to get for cards took me about 2 yrs to get really comfortable with. I wanted too much for most of them, and didn't move the smaller stuff in quantity when I should have. Over the past year, I've shifted more into buylisting stuff under $10. Most of it at least, as most of it comes from collections, and is solid profit regardless of what I get from it.
I also keep my speculating to a minimum. Speculating is gambling, for the most part. Even sure things can go sideways.
| Image owned by Wizards of the Coast |
SW: Since you don't speculate, what is your method of choosing cards to buy? Do you have a set rule when it comes to your purchases or do you follow the philosophy of buying bulk from collections and reselling?
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| Abrupt Decay (Image owned by Wizards of the Coast, Art by Svetlin Velinov) |
MB: I will take a small percentage of my profits and sink it into sealed product and format staples, such as Abrupt Decay, Eidolon of Great Revel, etc. However, this is below 10% of my profits. Probably 5%. I try to buy collections, which can be a pain, but having a set method and buy price for cards helps. For singles, I pick up reserved list staples when I see them for solid deals, and buy/sell standard stuff with quick turnovers, and smaller profits. I generally try build up some reserves before Christmas time, to be able to pick up solid modern cards as people sell them to get some extra spending money for the holidays.
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| Eidolon of the Great Revel (Image owned by Wizards of the Coast, Art by: Cyril Van der Haegen) |
SW: I am sure you are aware of the situation that modern cards are often at their lowest during Christmas due to the abundance of sales and lack of competitions. Is that another reason why you buy during Christmas?
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| Image owned by Wizards of the Coast |
MB: That's correct.
SW: What would you say is your biggest success story by far?
MB: Well, probably the fact I'm able to find the time to do all this. Having a full time job, and a family of 7. All my kids being under 10. My wife is very supportive (most of the time).
SW: Yeah, i have heard of people breaking bank over their collection. I hope readers will NOT do that. Were there any cards or collections that you purchases that had a great profit margin?
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| Windswept Heath (Image owned by Wizards of the Coast, Art by Yeong Hao-Han) |
MB: Oh absolutely. Two stand out. One was about 2.5-3 yrs ago. I was much more comfortable with what I was doing, and was picking up quite a few collections. This one was priced very high, about $4k. I didn't have that, but I had about $1k. I talked with him a bit, and he came down to about $2k. I got some good responses to questions, and felt good about him coming down to $1200-1500. I tapped a friend for some extra funds, and got down there (about an hour away). We chatted a bit before getting in to the cards. I went through some of the better stuff, we talked about bulk prices for the rest. I offered a buylist price at $600, based off what I had looked at, and how it was trending, and we settled on $680. This was only seeing a small portion of stuff. He told me flat out that there was $3k in there, maybe more, but he was fine with the price, because it was so big a collection, and it was the time that was the issue for him. He had already sold his power and duals out of it, so just wanted to be done. We parted ways and, sure enough, I cleared about 3500 bucks on the collection.
SW: Wow that is amazing, you turned $680 into $3.5k? How long did it take you to clear that collection?
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| Image from eBay |
MB: It took me about 6 months total to clear that on the $680 one. The bulk of it withing the first 2 months. Slightly less for the $200 one.
2 years ago, a local guy who frequents the LGS here in my small town of about 8000, said he had a collection he wanted to get rid of. He wanted to sort it first so he could keep a couple of EDH decks. I figured that was it, but 3 months later he said he was ready. He gave me about 3k rares, and 70k bulk. Only wanted $200 for it all. I offered him much more, but he wouldn't take it, stating he knew I bought collections to resell, and knew it took a lot of time. Plus, he didn't sleeve cards, so knew they were worth less. Cleared about $2500 on that. Whenever the $200 guy needs cards for an EDH deck, I just give them to him
SW: That is incredible. So from an anecdotal stance, you would say that buying collections is the true way to go in MTG Finance ?
MB: I don't know about that. I mean, that's where you get your biggest returns for sure, so for me, living in a lower population area, it works pretty well. If It was my full time job, I'd want a shop so that I could move volume, and so collections would come to me. I see many different people make money at this in many different ways.
Really, I think it's all about how you treat people. I just tell it to people straight. I don't try to get stuff for pennies on the dollar. I show them buylist prices online, even show them how to properly value their cards, and then explain why I pay what I do.
SW: Alright, it is definitely good of you to not be a shark and take advantage of people.
MB: Sharks are always bad for the business. There are some around, and they make it hard for everyone else.
SW: Indeed, I actually know a few who frequent some LGSs here in Malaysia. They can be harmful but since they have such rare cards, people are forced to deal with them.
MB: I tell people if I find $100 cards, or crazy stuff in their collection that I'll call them back if I find it, and offer to return said card or pay them a percentage. I've done it a few times, with some Force of Will's and dual lands. All but one have just said, "Keep it."
SW: Being an MTG Financier, it is very important to have integrity as a human being. You would agree?
MB: Integrity is always important. No question there. However, I do think one has to be very careful about judging how other fellow MTG financiers do business. There are lots of ways to buy and sell, and most of them are just as valid as others.
SW: Completely agree with you. As long as no one is getting scammed in the process, we have no right to judge a person's business practices.
MB: I mean, I've offered people below buylist for cards, standard mostly, when I've not excited about them, and think demand is low. They usually don't sell, but sometimes they do. I've been called out on it once or twice, but I showed them I fully explained the current market value, why I didn't want to pay more for it, and they still said OK. They went in with eyes open, and were perfectly happy with the deal.
SW: Yeah, transparency is important in any transaction.
MB: Also, people will often sell for very little if stuff is rotating. If you can flip quickly (usually means having a buyer already lined up), you can make some nice quick profit. Exactly. I'm ALWAYS very transparent. There is simply no reason to deny information to someone.
SW: Indeed. Completely agreed.
MB: I also genuinely enjoy meeting people. I've met some awesome people buying collections.
SW: What would you say was your biggest failure in terms of MTG Finance, if you care to share? Personally, mine was due to silly old me speculating on Realms Uncharted.
MB: There are probably a lot of small ones. I think by biggest one recently was speculating on shocklands. I was basically splitting my money between buying up fetches and shocks. Khans fetches were SOOOO low you just couldn't not buy them. Non blue for 5-7, blue for 9-10. I gathered up 4 playsets of each, but also did about 3-4 playsets of the shocklands as well. Those shocklands are STILL the same price, and my fetchlands I doubled up on already (and they are long gone). I could have made another $1k if I would have focused on fetches. I was buying up Abrupt Decays and Mutavaults as well. About the same amount. So in reality, which is hindsight, which is 20/20, I should have just bought all fetches, and been $1-2k richer.
SW: Would you have any advice for non-MTG people who are interested in experiencing financial freedom?
MB: Well, I have plenty of advise for pretty much anyone looking for financial freedom. As far as getting out of debt goes, Dave Ramsey is well known. He's dead on when it comes to the basics of getting out and staying out of debt. I known many people personally that have become debt free thanks to his efforts. Bottom line is not being in debt. Almost all debt is bad, regardless of what rich people tell you. "Rich" people are telling you otherwise cause they make money off the debt.
Really, I think it's all about how you treat people. I just tell it to people straight. I don't try to get stuff for pennies on the dollar. I show them buylist prices online, even show them how to properly value their cards, and then explain why I pay what I do.
SW: Alright, it is definitely good of you to not be a shark and take advantage of people.
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| sharksider.com |
MB: Sharks are always bad for the business. There are some around, and they make it hard for everyone else.
SW: Indeed, I actually know a few who frequent some LGSs here in Malaysia. They can be harmful but since they have such rare cards, people are forced to deal with them.
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| Force of Will, Art by Terese Nielson |
SW: Being an MTG Financier, it is very important to have integrity as a human being. You would agree?
MB: Integrity is always important. No question there. However, I do think one has to be very careful about judging how other fellow MTG financiers do business. There are lots of ways to buy and sell, and most of them are just as valid as others.
SW: Completely agree with you. As long as no one is getting scammed in the process, we have no right to judge a person's business practices.
MB: I mean, I've offered people below buylist for cards, standard mostly, when I've not excited about them, and think demand is low. They usually don't sell, but sometimes they do. I've been called out on it once or twice, but I showed them I fully explained the current market value, why I didn't want to pay more for it, and they still said OK. They went in with eyes open, and were perfectly happy with the deal.
SW: Yeah, transparency is important in any transaction.
MB: Also, people will often sell for very little if stuff is rotating. If you can flip quickly (usually means having a buyer already lined up), you can make some nice quick profit. Exactly. I'm ALWAYS very transparent. There is simply no reason to deny information to someone.
SW: Indeed. Completely agreed.
MB: I also genuinely enjoy meeting people. I've met some awesome people buying collections.
SW: What would you say was your biggest failure in terms of MTG Finance, if you care to share? Personally, mine was due to silly old me speculating on Realms Uncharted.
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| Temple Garden (Image owned by Wizards of the Coast) |
MB: There are probably a lot of small ones. I think by biggest one recently was speculating on shocklands. I was basically splitting my money between buying up fetches and shocks. Khans fetches were SOOOO low you just couldn't not buy them. Non blue for 5-7, blue for 9-10. I gathered up 4 playsets of each, but also did about 3-4 playsets of the shocklands as well. Those shocklands are STILL the same price, and my fetchlands I doubled up on already (and they are long gone). I could have made another $1k if I would have focused on fetches. I was buying up Abrupt Decays and Mutavaults as well. About the same amount. So in reality, which is hindsight, which is 20/20, I should have just bought all fetches, and been $1-2k richer.
SW: Would you have any advice for non-MTG people who are interested in experiencing financial freedom?
MB: Well, I have plenty of advise for pretty much anyone looking for financial freedom. As far as getting out of debt goes, Dave Ramsey is well known. He's dead on when it comes to the basics of getting out and staying out of debt. I known many people personally that have become debt free thanks to his efforts. Bottom line is not being in debt. Almost all debt is bad, regardless of what rich people tell you. "Rich" people are telling you otherwise cause they make money off the debt.
Even houses are not a sure thing. Recent events should have proven that. I see a lot of people with mortgages and no savings investing in the market. That seems super silly to me, and almost always ends bad.
Being debt free is worth it just for the lack of stress.
Being debt free is worth it just for the lack of stress.
SW: Indeed, because every extra bit of cash becomes pure profit. I think that is all the questions I have.Would you like to share any parting words to my readers regarding anything?
MB: Ask lots of questions of those around you that are successful - not just MTG related. Build relationships and connections, and be willing to invest TIME into them. The dividends such effort returns is always profitable, for all parties involved.
SW: Thank you for the advice. I am sure many people will benefit off it.
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So, today we have learned about integrity as a seller and how to make money off collections. We also learned about the importance of debt reduction. I hope you enjoyed this interview and learned a lot from this man. If you did, please share this interview or leave a comment with your own opinion regarding the topic. Thank you for reading!
Sharing is Caring,
Sean Wang
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