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I think it really depends on the collector. I consider a grail to be a pint you really, really want... But it doesn't have to be expensive. Now, most of *my* grains have been expensive but that's because I have expensive tastes. . On the other hand, one of my early grails was a SS Wind Whistler and she's not too hard to find.
Agree with all--I think a grail is something personal rather than something that is considered rare, HTF, or sought after by collectors generally. My grails for years and years were Bubbles and Seashell--could never find them as a child. Gave away all of my ponies save one in high school. In college at an attic sale I found a basket of ponies and picked through it for nostalgia's sake . . . at the bottom of the basket was Seashell. For twenty-five cents. This was probably the biggest high I ever experienced in MLP collecting! Finding one of my grails started me collecting again (that was 17 years ago!).As for a grail being something you acquire quickly . . . I'd say you have to pine for it to qualify as a grail