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With everyone talking about card availability in the wake of the EMA reveal, I thought I'd share techniques I used to build up my Legacy collection. I hope to help someone build the deck they want, regardless of cost. Hopefully this isn't repetitive or reiterating anything in the sidebar. Scroll to the bottom for TL;DR.
Patience is the most important aspect of building a Legacy deck Following this guide to the letter will take time to build a deck, depending on cost. But once you shuffle up that coveted deck that's entirely yours, the sense of accomplishment is incredible.
I will assume the reader has chosen their deck and extensively tested it with proxies or online. If you need help with that, refer to the endless "what deck do I play" posts. Don't buy a deck you haven't tested or think you won't play. You'll just waste your time and resources that way.
FACTORS THAT WILL LEAD TO YOUR LEGACY DECK
First, time -- Identify when you're going to play the deck. Is the deck for weekly FNM, or is a StarCity, GP, or other big tourney coming to town? Giving yourself a timeframe for securing the cards for your deck is important, because you have to spread the cost across that time to make it easier.
Second, deck value -- Identify the total value of the deck you want. Could be a few hundred for burn, $3K for lands, or something in between.
Third, collection value -- Assess the value of your current collection. Is everything in your collection bulk, or do you have some decent staples for Modern, EDH, etc? Do you have a small or large trade binder? How many of the cards for the deck you want do you already own?
THE PROCESS
Try to start with a deck that you already have many cards for. Might as well make it easier on yourself.
Use time to your advantage. Divide the cost of the deck by the time you have until the event, I.e. $1000 by 6 months, which is $167. Save $167 a month in cash and trade stock, you'll have the deck ready to go.
Leverage your collection value. Trade aggressively, and trade for value. Ask for 1 or 2 bulk cards to sweeten each deal. Trade for popular cards, not necessarily what you need right away. If you get hot cards, you're more likely to attract trade partners with cards you need. Walk away from bad traders, disagreeable people, known thieves, or people that act like dealers with "buy mats".
Don't play drafts for a while. Put that money away towards buying your deck. Don't buy boxes of a new set. If your LGS has an entry fee for each week, skip a week or 2 and play casually. If you do draft, keep every bulk rare and take any bulk people don't want. Don't be afraid to be a scavenger -- the biggest value in bulk is sheer numbers.
Don't be afraid to drop your entire trade stock into a buylist. Even if you're not given 100% of the on-paper value of your cards, you can still get enough credit with a sufficient number of cards. Also send a bulk box to add some extra value, no matter how minimal. Always deal for credit, not cash. Dealers give more value in credit.
Move value cards that are sitting in your boxes/binders. If you have EDH decks you're not using, liquidate them. If you're sitting on 3x of a Modern staple you'll never play, move them. If you're skipping Standard FNM's, move the deck. If you have some value cards that you're attached to, move them. You can always get it back later.
Don't pass on an opportunity for savings. Buy moderate or heavy played cards and double-sleeve. Ask to see cards marked "damaged" - it could be a good deal - but don't buy a damaged card blind (I only did it once and it worked out, but it was a huge risk). Scour eBay for lowball or incorrect listings, but again don't take on too much risk.
Don't "pimp" your deck. Don't buy foils if you don't have to (unless it's cheaper than the non-foil).
SUBSTITUTIONS AND OPTIMAL LISTS
My personal goal was to obtain cards for optimal lists. Depending on your local meta or event you're playing in, or available budget, you may not need a list considered to be "optimal". Don't let this stop you from playing the game! Depending on the deck, using budget replacements can be an advantage! You'll know what's coming but your opponents won't! This style will help you learn the nuances of the deck and format as you build up your deck to the "optimal" list. Thanks /u/addelorenzi for pointing this out!
THE PAYOFF
Over two years, I obtained cards for multiple legacy decks by spending saved cash and dropping bulk cards into buylists. Out of my pocket over those 2 years I spent about $1000. The rest I got with the value of my cards. I can play almost any Legacy deck I want, but it's not a perfect system. For example, I have no Underground seas and no budget for Eternal Masters! But I do have at least 2 of every other dual, cards to build a ton of legacy decks, and most importantly of all: a collection I'm proud of!
TLDR (As promised)
Legacy decks are expensive, so you won't build one instantly
Build a cash and trade budget for the deck(s) you want. Spread it out over time
trade like crazy, grab bulk, and buylist aggressively
play less events that require an entry fee
Buy lower-conditioned cards for value
Don't foil or "pimp" your deck
Do these things and you'll have the legacy deck you want.