Contrary to what the title suggests, Pecharunt ex does not appear in the Twilight Masquerade set—it’s found in other releases like Shrouded Fable and Prismatic Evolutions. However, Twilight Masquerade, which released on May 24, 2024, as the sixth set in the Scarlet & Violet English series, contains its own powerful and valuable chase cards that have become critical to competitive collectors.
The most expensive card in the set is Greninja ex, a Special Illustration Rare (SIR) currently valued at $289.87 as of January 2026, while other notable chase cards like Bloodmoon Ursaluna ex and Perrin command significant prices as well. This article examines the actual high-value cards in Twilight Masquerade, their pricing trends, and what drives collector interest in this 226-card set. We’ll break down why certain cards command premium prices, how the market has evolved since launch, and what factors continue to shape the secondary market for this release.
Table of Contents
- What Makes Twilight Masquerade a Major Release?
- Greninja ex—The Set’s Most Valuable Card
- Special Illustration Rares vs. Standard Cards—Why Rarity Tiers Matter
- Emerging Value in Bloodmoon Ursaluna ex and Mid-Tier Cards
- Price Volatility and Market Consolidation
- The Role of Competitive Play in Card Valuation
- Long-Term Outlook for Twilight Masquerade Cards
- Conclusion
What Makes Twilight Masquerade a Major Release?
Twilight Masquerade is the sixth set in the scarlet & Violet English series, containing 226 total cards across the main set (167 cards) and 59 secret rares. This expanded card pool and the inclusion of multiple special illustration rares—the highest-rarity treatment in modern Pokémon TCG—established the set as a significant collecting milestone when it released in May 2024.
The set features Ogerpon ex as the marquee Pokémon, available in four different Tera types, but it’s the supporting chase cards that have driven much of the secondary market activity. The comprehensive nature of the set, combined with the desirability of its illustrated rares and ex Pokémon, created strong collector demand that has sustained pricing across multiple months. Unlike some sets that cool significantly after launch, Twilight Masquerade cards have shown sustained growth or stability, indicating genuine long-term collector interest rather than speculative hype.
Greninja ex—The Set’s Most Valuable Card
Greninja ex (Special Illustration Rare, #214/167) stands as the most expensive card in Twilight Masquerade at $289.87 as of January 2026. This Water/Dark type ex Pokémon with 300 HP features the Mirage Barrage attack and represents one of the most visually striking cards from the set. Since the set’s May 2024 launch, Greninja ex has appreciated approximately 25% in value, gaining roughly 5% monthly on average, though recent months have shown slight downward pressure—the card dropped $45 from its previous month price, settling just below the $300 threshold.
The recent pullback in Greninja ex pricing illustrates an important consideration for collectors: even the most coveted cards in a set experience market fluctuations. A card that gained consistently for months may see volatility as speculation cools or market corrections occur. For collectors viewing Greninja ex as a long-term hold, this recent dip could represent a buying opportunity; for traders, it’s a reminder that SIR cards, while generally stable, are not immune to short-term price pressure despite their rarity.
Special Illustration Rares vs. Standard Cards—Why Rarity Tiers Matter
Special Illustration Rares command premium prices in the Twilight Masquerade market because of their scarcity and visual appeal. Beyond Greninja ex, Perrin (a Special Illustration Rare Trainer Supporter) holds its value at $92.69, while Bloodmoon Ursaluna ex (another SIR at #216/167) sits at $37.33. These cards are printed in significantly lower quantities than standard rares or holo rares, creating natural price floors through collector demand alone.
However, rarity alone doesn’t guarantee value—a card must also have perceived appeal through playability, artwork quality, or cultural significance within the collecting community. Eevee (Illustration Rare, #188), which is less rare than the Special Illustration Rares but still an elevated rarity tier, has commanded $56.50 with 10% monthly growth, driven largely by the persistent popularity of the Eevee brand among Pokémon collectors. This demonstrates that factors beyond raw scarcity determine which cards appreciate and which plateau.
Emerging Value in Bloodmoon Ursaluna ex and Mid-Tier Cards
Bloodmoon Ursaluna ex, priced at $37.33, has posted consistent 8% monthly gains since the set’s launch, driven largely by adoption in competitive Primal meta decks. This card demonstrates that the highest-priced cards are not always the best investments if you’re looking for percentage growth. While Greninja ex appreciated 25% overall from launch, its $45 monthly decline suggests it may be consolidating value, whereas Bloodmoon Ursaluna ex’s steady 8% monthly gain indicates ongoing collector/player interest without the speculative peaks and valleys that affect the marquee SIR.
For collectors evaluating purchase timing, mid-tier cards like Bloodmoon Ursaluna ex offer a different risk-return profile than chase cards. The price point of $37.33 is more accessible than Greninja ex’s $289.87, and the consistent monthly growth suggests this card has found its market value and is appreciating organically rather than through speculation. This positioning makes it attractive for budget-conscious collectors building long-term portfolios.
Price Volatility and Market Consolidation
The Twilight Masquerade market has entered a consolidation phase nearly two years after launch. Greninja ex’s recent $45 monthly drop signals that speculative buyers may have exited, leaving the market to establish true collector value.
This is not necessarily negative—consolidation phases often precede stability or renewed growth once the market properly prices the card’s actual scarcity and demand. Collectors should be aware that Special Illustration Rares from sets released 18+ months ago are no longer being actively pulled from booster boxes, which gradually shifts the market from supply-driven pricing (when new product exists) to demand-driven pricing (when supply is fixed). For Twilight Masquerade, this transition is already underway, meaning near-term volatility is normal before prices stabilize at their true long-term equilibrium.
The Role of Competitive Play in Card Valuation
Bloodmoon Ursaluna ex’s recent gains have been tied to its adoption in Primal meta competitive decks, illustrating that playability remains a critical value driver in the Pokémon TCG market. Cards that see tournament play maintain higher prices and steadier growth than purely collectible cards, even if the tournament card isn’t a visual chase rare.
Greninja ex’s design (the Mirage Barrage attack and typing) suggests it has competitive potential, yet its recent price decline indicates that competitive adoption may not be driving significant demand. This disconnect highlights a limitation of price-based investing: a card’s power level doesn’t always correlate with secondary market value if the competitive metagame shifts away from it. Collectors building portfolios should research not just what cards are rare, but whether they remain relevant in current and likely future competitive environments.
Long-Term Outlook for Twilight Masquerade Cards
Nearly two years post-launch, Twilight Masquerade has moved beyond the speculative phase and into a maturation phase where prices reflect genuine collector demand rather than FOMO-driven volatility. The sustained growth in mid-tier cards like Bloodmoon Ursaluna ex and Eevee suggests the set has earned its place in the broader Pokémon TCG collecting landscape, while Greninja ex’s consolidation may eventually stabilize at a premium price that reflects its SIR status and visual appeal without the speculative premium.
As the Pokémon TCG continues to release new sets, Twilight Masquerade’s relative scarcity increases, which historically supports long-term price appreciation. However, the market’s appetite for older sets is ultimately determined by collecting trends and the strength of newer releases. Collectors viewing Twilight Masquerade cards as long-term holds should monitor broader market trends and competitive metagame shifts rather than focusing solely on short-term monthly fluctuations.
Conclusion
Twilight Masquerade, released in May 2024 as the sixth Scarlet & Violet set, contains several genuinely valuable and collectible cards, though Pecharunt ex is not among them. Greninja ex stands as the flagship chase card at $289.87, while Bloodmoon Ursaluna ex and other Special Illustration Rares provide more accessible entry points for collectors. The set’s 226-card composition and elevated rarity treatments have established a stable secondary market that continues to appreciate in value, particularly for cards with sustained competitive or collector appeal.
For collectors considering entry into Twilight Masquerade, focus on your actual collecting goals rather than short-term price movements. Chase cards like Greninja ex offer prestige and visual appeal but come with volatility; mid-tier cards like Bloodmoon Ursaluna ex show steadier growth and lower barrier to entry. Verify condition grades carefully when purchasing, as the $37–$290 price range for quality copies reflects the condition-sensitive nature of high-value cards in this set.
