Is it wizardry? Not quite, just a bit of science. Basically this is a demonstration of Lenz’s law – the magnet is inducing a current in the copper pipe and that in turn produces a magnetic field. The field is the opposite of the magnet itself though and since opposing magnetic forces repel, it forces the magnet to fall all crazy sci-fi slow through the pipe. Feel free to use this to amaze friends who are less familiar with magnetic fields than you are.