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I feel its more the rarity that creates the price.
He is one of the 4 ultra-rare figures from Sorcery and would only have a 1 in 288 chance of being pulled.
Yeah, Vorgoth is strong, but it's not just that that drives his price. It's also the rarity, as well as the fact that he's an OoNC figure (and so can go in any army).
He's not an auto-play figure though, that first-click Frenzy is really debilitating the way his dial's made. You really have to have an all-Frenzy army or a particular game plan to get full value for him.
Or cast the shyft faction spell: tranquility. It makes things ignore their frenzy. Excellent illusion, but rarely used. On another note:
I noticed the price of dragons is really going up lately. Are the dragons drying up? They used to go for $5.00 now they're going for like $20.00. Anyone else notice this?
The GFD has always seemed to fetch a bit more than the others. I wonder if it was more limited, or possibly if it simply sold better in its first run due to being a novelty. I always had the impression that it was also the best dragon, but that may have been tainted by my own positive experiences using it.
I always meant to pick up another Shadow Dragon (I lost the wing off mine), but they were going for about fifteen bucks a year ago or whenever I checked, so I never got around to it. I never got an ice dragon in the first place, and also always meant to but never got around to. Maybe now's the time to go looking, if they're becoming scarce. I know light dragons used to be practically given away on ebay.
I remember seeing those in your post of unopened boxes for identifying production runs.
Couldn't tell if I was in awe, jealous, or a mixture of the two.