I play some teams who buy flag locks early, like levels 1 - 3.
I think this is a waste of money. 250 GP is important early when you're racing towards your 1500GPish item. Unless a specific flag is required for your strategy (short cooldown on TB), don't waste your money so early when gold is sparse.
A good time to start locking is when enemy buys priests. You invest 250GP to lock the middle flag in Cataract. This buys you the time to go farm the priests in another lane and earn back your gold. Flag lock allows you to hold two flags for effectively 0 cost.
But still the numbers are of no use to us. If we made a real formula for the value of flaglock it would be a thick book.
Logically the flags are worth about the same all the time. Portal flags are worth even more in late game than before. However 250 gold is not alot in the end of the game. 250 gold is alot in the beginning of a game.
Logically flaglock should increase in value over time.
Forget the numbers it is much too complicated.
My item layout late game usually includes 3 x TP, 3 x locks - replenished each time I'm at shop
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