What I've done a couple times but it is kind of a pain because it messes up the sorting of my collection is to make "packs" out of my collection and draft with friends. It's a lot easier to just buy a booster box and draft from that. But at least with old cards you don't have to contend with Sephiroth, the Ninja Turtles, and My Little Pony.
> But at least with old cards you don't have to contend with Sephiroth, the Ninja Turtles, and My Little Pony.
I thought you were joking, unfortunately you weren't. Money really has no taste.
Check out the Cube Draft format.
This is a pretty common format called cube.
You can grab a list from somewhere like cube cobra. Buy the cards, or use an online draft tool or print a bunch of proxies and play. Its a fun way to play with cards that are just sitting in bulk boxes and play without having to buy a whole booster box