Immortal Items and Treasures in Dota 2: Rarity vs. Value

Here is a puzzle from the Steam Market. Immortal Treasure I 2016 and Immortal Treasure I 2022 are both sealed chests from The International Battle Passes, and both carry Immortal rarity. As of October 14, 2026, the 2016 chest's lowest Steam ask was $39.93. The 2022 chest's was $1.27.

Rarity tells you how Valve classified an item. It doesn't tell you what the item is worth. This post explains where Immortal sits, how Immortal treasures were distributed, and which factors actually move the price.

Where Immortal sits on the ladder

Every Dota 2 cosmetic has one fixed rarity. Here is how the roughly 45,800 items tracked by dota2skins.gg break down:

A handful of items also carry Seasonal or Ancient rarity. The counts include quality variants such as Inscribed or Autographed copies, which are separate market entries.

Immortal items are usually treasure exclusives with extra effects, a custom model or a reworked ability animation. The label isn't always about design, though. Pudge's Dragonclaw Hook was released as a Mythical item in July 2012. Valve changed it to Immortal on February 28, 2013, the same day it was pulled from the drop list after it had been dropping by accident.

How Immortal treasures worked

For the later Compendium and Battle Pass years, roughly 2015 to 2022, the big Immortal releases came in numbered treasures tied to The International. Immortal Treasure I, II and sometimes III arrived through the summer. Each held a pool of Immortal items plus rarer bonus versions, and Battle Pass owners earned or bought them as they levelled up.

That cycle ended in 2023. Valve dropped the Battle Pass, and the TI 2023 Compendium had no Immortal Treasures. Since then, new Immortals have come through themed treasures such as the Crownfall treasures of 2024, the Heroes' Hoard treasures and, most recently, October 2026's Trove of Terror.

Faceless Void's Mace of Aeons shows how a single item can carry a treasure. It came from Immortal Treasure I 2016, and on October 14, 2026 its lowest Steam ask was $340.32 across 38 listings, with 3,632 buy orders topping out at $318.80.

Why two Immortal treasures can be 30 times apart

Back to the puzzle. The 2016 chest outprices the 2022 chest by about 31 to 1, and the reasons generalize:

1. The best item inside. A chest that can contain a $340 weapon has a high floor. A chest whose contents trade for a few dollars does not.
2. How many sealed copies are left. The 2016 chest had 60 Steam listings. Immortal Treasure I 2022 had 1,101, and Immortal Treasure I 2020 had 833 listings at $0.93. Listing depth is a rough proxy for how many unopened copies are still around.
3. Time. Every year more copies get opened, and opened chests never come back. Older treasures have had longer to thin out.
4. Re-releases. If Valve later sells the contents another way, the chest loses its main reason to exist.

None of this makes old chests a sure thing. A sealed treasure is only worth what people expect to pull from it, and that depends on the contents' prices.

Crimson Witness: Immortals you can't buy

One family of treasures behaves differently. Each year Valve produces a Treasure of the Crimson Witness containing red-themed versions of Immortal items. These treasures aren't sold in the store. They go to people attending The International in person.

The 2026 edition came from TI 2026 in Shanghai, held August 13 to 23. It holds Crimson Witness items for Sniper, Windranger, Beastmaster, Puck and Silencer. Prices as of October 14, 2026:

The supply is fixed by how many treasures went to attendees, so older editions are scarce. The 2024 treasure shows the pattern for recent years: dozens of listings and a buy order close to the ask. The 2017 and 2018 editions have so few listings that a single sale can move the quote a long way.

Opened Crimson items can be pricier still. Wraith King's Crimson Unbroken Fealty had no Steam listing at all. Its cheapest third-party ask was $1,147.21 on Market.dota2.net, against a Steam buy order of $1,102.00.

How to read an Immortal listing

Before trusting a price, check four things:

• Listing count. Autographed Dark Artistry Bracers had one Steam listing at $1,712.48 and a best buy order of $1.81. That ask tells you nothing.
• Buy orders. A deep buy order close to the ask, like the Mace of Aeons, means real demand. A distant one means the ask is a hope.
• Quality and variant. Inscribed, Autographed, Corrupted and golden versions are separate items with separate prices. Mace of Aeons shows the spread: standard at $340.32 across 38 listings, Autographed at $385.74 (4 listings), Corrupted at $396.83 (2) and Inscribed at $397.21 (5). The premium variants are the thin ones.
• Where else it trades. Expensive items often trade below the Steam price on cash marketplaces. Browse the treasure catalog to compare.

Risks worth naming

Immortal prices have dropped as well as risen, and three risks recur:

• Re-release. Dragonclaw Hook was famously removed in 2013, yet Liquipedia also lists Trust of the Benefactor 2016 among its origins. Treat "no longer obtainable" as a statement about today.
• Contents drive chests. If the best item in a treasure falls, the sealed treasure follows.
• Short data history. Steam price history on dota2skins.gg is still backfilling. Use the market cap and trending page for today's depth, not for all-time highs.

Immortal rarity gets an item in the door. Scarcity, demand and the market's trust that supply won't grow decide where its price lands.