This is what Chas Andres, an expert on Magic finance,had to say on a similar issue in a n article he published three weeks ago on SCG:
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Originally Posted by scott
I have been away from the game for a few years and I have 1-2 playsets of every staple in Modern and Legacy. I just finished college and my collection has become something of a nest egg for me. What should I do with the cards now that I don't actively have time to play and maintain a collection anymore? I know the old adage is "never sell your collection," but it seems to me that older cards are in a bull market right now. Saying that any market is due to crash simply because it hasn't done so in a while is the gambler's fallacy, but I do want to be protected in case Wizards decides to scrap the reserved list or stops support for Legacy. Where do you see the market for these older cards heading?
Scott
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"I don't think a major crash is coming to Magic any time soon, Scott. If you haven't been in the game for a while, I know it can seem like Underground Sea jumped from $50 to $350 overnight, but those prices actually make sense when you consider how many more people are playing right now. Magic probably is about nine times more popular now than it was when we had $50 Underground Seas, and WotC is not making any more of them. Both Legacy and Vintage are doing fine without WotC showing them much support, and there are many avid fans of both that are promoting a style of Magic play that simply cannot exist in the newer formats. Your reserved list cards are fine to hold and will be very hard to replace should you ever decide to do so.
Modern is slightly more difficult to predict. Assuming the format stays popular (I think that it will) a certain number of staples will spike each year while other cards tank in price thanks to reprints and decks falling out of favor. I expect this cycle to continue, though I do think that WotC is serious about making the format more affordable. If you're going to sell your Modern collection, do it in February, March, and April - those months generally mark the seasonal high for Eternal cards.
The decision to sell is both difficult and personal. On the one hand, a large Legacy and Modern collection can net you as much as a full year's worth of pay if you make the effort to part it out. That amount of money can be life changing. On the other hand, if you ever want to play those formats again, buying back in from scratch can be like staring up at an impenetrable brick wall, especially if card prices go up again after you sell. I'd take a long time (say, the three months between now and when selling makes sense) and think about what that money would mean to you - and also how you'd feel if the market does collapse and your collection drops in value by 50% or more. If you do decide to sell out, be sure to keep a couple of decks around and a small binder filled with your favorite cards. You'll be happy you held on to those no matter what happens. "
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