Collecting Tales of Middle Earth

Faramir, Field Commander card art. Also my face when I see the prices of this set

This month, I will focus on the recently-released Lord of the Rings-themed set, Tales of Middle Earth.  (Note: I first reflected on Tales of Middle Earth last month, focusing on the colliding worlds of Lord of the Rings and Magic: the Gathering.) Today, I look at collecting that set.

I had planned to collect Tales of Middle Earth . . . then I saw the prices. My preferred vendor, CoolStuffInc, currently lists the sealed products as follows:

• Bundle: $100
• Set of 4 preconstructed commander decks: $240
• Draft booster box: $160
• Set booster box: $180
• Collector booster box: $430

For reference, the set released immediately before, March of the Machine, can be purchased at the same site for the following prices:

• Bundle: $38
• Set of *5 preconstructed commander decks: $145 (currently on sale, down from $175)
• Draft booster box: $100
• Set booster box: $110
• Collector booster box: $220

CoolStuff generally trends at market prices, so this begs the question: what is going on? Why is Tales of Middle Earth so expensive? I can think of a few potential reasons:

1) Lord of the Rings is a licensed property. Wizards has to upcharge as a result.

2) The serialized One Ring drove prices up. Wizards printed a special, one-of-a-kind One Ring card (it was found last week in Ottawa) and limited-run copies of other rings. Bidding is currently at $2 million for the One Ring, if that latest link is true. This would explain the collector booster box price only (as that is where the One Ring was promised to be), and prices should have tailed off after the Ring was found (they have, a little, but are still remarkably inflated). 

3) Scarcity of product. I've heard several reports to this effect; Wizards didn't print enough (perhaps intentionally). Perhaps this is because they have announced a second set release, in November. There will be nuances (see the link), but I expect this will effectively be releasing the set twice. 

4) Cards included in the bundle. The bundle price shocked me until I saw they had included 4 cards in every one, to include a One Ring variant. That card alone is selling for $50, which in turn drives up the bundle price. 

5) Wizards is seeing how far they can go. The most pessimistic view, this is nevertheless something to consider. 

The real answer may be all five of these in some combination. Whatever the case, it is far outside my price range. The question remains, then: how do you collect a set like this? Besides the obvious answer—don't—here are a few tips:

1. Play it on Arena. I have used Arena gold, saved over months of playing, to pick up a lot of this set digitally. This can be cheap (or free) and lets you experience the set.
2. Buy singles. Generally speaking, buying singles is the cheapest way to collect any Magic set. This one is no exception. The vast majority of cards are cheap to purchase as singles. You won't get the high-market cards this way, but can enjoy much of the set at a fraction of the price.
• Comment: though The Nazgûl cards in this set are insane. Printed as uncommons, but with 9 art variations, and with 9 allowed in a deck, they are running $10-$15 a pop. For an uncommon.
3. Look for deals. I found a good deal on a bundle at a non-comic/game store retailer. Sometimes places like Walmart will sell this product at far under the price everyone else is offering.
4. Wait. Some Magic sets get multiple print runs. This set is supposed to be re-released in November. Prices will drop . . . probably. I already saw Coolstuff run a sale reducing the set and draft booster boxes by $20. Though that sale is over, I anticipate more in the future.

Personal recommendation? Wait it out. Patience and contentment are virtues.