I like both fish, and I would much prefer captive bred. I think the best solution to increasing prices of the black rays is more captive breeding and less reliance on the importation of rays from Brazil. Their reluctance to export rays based on conservation issues may or may not be unfounded. The only way we'll know the true conservation status is for an organization outside of Brazil such as CITES or the IUCN to conduct a broad study on populations and the effect of local fisheries for ornamental purposes or otherwise and determine whether there is a real threat to the populations of Brazil. This study would cost money and given the world economy, that money may be hard to come by. As I have stated before, I think the best solution is an increase in captive breeding programs and less reliance on exports from Brazil. If Brazil focused on providing new genetic stock to known captive breeding programs, the demand for rays endemic to Brazil would decrease and if these programs were successful, the price would eventually drop.
If I had to choose, I'd much prefer a captive bred Leopodi over a Marbled Motoro, but I'd be just as happy with a nice Motoro ray for a reasonable price over an expensive marbled variant.