One plants magnolias grown from seed only after deciding if it is really worth the effort. It is possible that the seedling came from an “ugly” magnolia. You won’t realize this, of course, until a decade has passed and the tree begins blooming.
Digging seedling magnolias (or dogwoods) out of the woods to put in your yard is a gamble. You don’t know what you have for years and years. Why not spend a few dollars and install a nice small magnolia like ‘Little Gem’ or one with pretty blooms and leaves. Dr. Midcap recommends ‘Bracken’s Brown Beauty’ and ‘Claudia Wannamaker’ for large-sized magnolias.