They had been the form team in the men's A grade tournament, winning 12 of their 13 games.
But the St Kilda side produced a lacklustre opening quarter and suffered a morale-bruising 86-71 loss.
The Magic (11-3), for its part, produced a 13-point run in the third quarter to help seal the victory and was able to spread the scoring beautifully.
Classy guard Micah Lepaio top-scored with 17 points and four other players scored 10 or more.
New recruit Daniel Green - son of New Zealand basketball identity Jeff Green - nailed two important three-pointers in a nine-point haul as well.
But it was the Saints inaccuracy early on that paved the way for their 15-point defeat.
The Saints looked as if they had not practised all week and it took them the best part of seven minutes before they troubled the scorers.
Veteran forward Matt Gillan eventually drilled a three-pointer but by then the Magic had 15 points on the board.
It was some head start. The Saints had no rhythm and could not even get a free throw to drop.
Gradually, their offence came right. Damon Cleverley came up with two under the hoop and Gillan dropped in another three-pointer.
Point guard James Ross took control in the final seconds of the opening quarter.
He waited for the clock to wind down and found Cleverley on the outside, who popped it in from out wide to close the gap to 22-14.
Midway through the second period the Saints briefly took the lead.
Their ball movement was much improved and they were in the game.
The lead switched hands a few times but Green drilled consecutive three-pointers to help the Magic clear out to a 43-36 lead at halftime.
But what was beginning to shape as a close game blew out in the third period when the Magic posted 13 unanswered points.
Lepaio dropped in an important three. Green came up with a steal. Richie Rodger made a wonderful no-look pass and found Josh Aitchison under the hoop for an easy basket.
The Magic's bench had an impact and the lead ballooned to 14 points with 10 minutes remaining.
The Saints were not able to mount a serious challenge in the final period despite some late three-pointers by Liam Aston.
The small forward had his outside game humming.
He drilled five three-pointers in all and finished with a game-high 21 points.
Gillan had a strong game as well, with 20 points.
It was when he was resting on the bench that the Magic was able to pull away.
In the other games, the Falcons (6-8) pulled away late to beat Varsity A2 (1-13) 77-68, while the Bombers (7-6) prevailed 78-76 in a tight contest with Varsity A (4-9).
