With this sorcery, you also get a ton of information about that player’s deck, too. Praetor’s Grasp even for a time was tried out by Legacy and Vintage players. It never stuck around in those formats, though. After it rotated from Standard, EDH players became the card’s only audience.
Praetor’s Grasp offers a great deal of utility in EDH, especially in stealing someone’s key combo card from their deck. The best part about this effect is that it can be any card: artifact, creature, enchantment, instant, sorcery, or even land. If played correctly, this effect can both hurt your opponent and help you simultaneously.
The typical card you would target in EDH with Praetor's Grasp would be an artifact, since the vast majority of artifacts are colorless. You don’t even have to know what you’re looking for when you target an opponent; you just choose based on who you think the biggest threat at the table might be.
Commanders that gave Praetor's Grasp a regular home include Gonti, Lord of Luxury, Mishra, Articifer Prodigy, Sen Triplets, and many others. You don’t even have to be a mono-Black deck to take full advantage of this card’s effect. Still, mono-Black tends to be happiest when it’s stealing key cards from opponents.
Praetor’s Grasp was one of those rares you could find for $1 or less for a long time, but more recently it's passed $3. This is a great card to pick up as it has no reprints and should be a valuable card long-term. It’s a great tool to have for any EDH player dabbling in Black Magic.