Eh, I lost my virginity late (late 20s). And the funny thing is my sex drive is pretty high, but sex isn't THAT important to me. That sounds weird so let me explain. I'm horny pretty damn often. While I have the need for an orgasm, I don't need to get it from sex.
Obviously sex is FAR preferable, but if it's not available, masturbation is totally fine with me. I mean like I have a fuck buddy now and when we get together we fuck as much as possible. But it's been over a month since I've last got together with her. Maybe I'm just different. I LOVE sex, but masturbation easily keeps me sane when sex isn't available.
On to first time sex since someone asked. Is it that magical? I think it depends. If your nerves are high, it'll be hard to enjoy especially since you might cum in like 10 seconds. Or on the other hand you might not be able to get hard out of nervousness. My personal experience? First time it was super disappointing. I penetrated her, it felt pretty damn good, and then all of the sudden I felt nothing. Like my cock fell off. Not sure why. Bad condom I think. I still managed to cum. You know the scale of like 1 = no pleasure and 10 = cumming? Well, I was at 1 for a few minutes (very hard to stay hard like that, in fact I wasn't even sure if I was hard), then all of the sudden I was at 9 ("you're going to cum unless you don't stop in the next few seconds") and then 10 a few seconds later. There was no build up. Sex with her was really bad (probably way worse for her) since I was always so nervous and could never feel anything.
Ironically I bought a fleshlight after we broke up since I was worried about myself and heard it felt like the real thing. I figured I should work off my nerves. I got it, warmed it up, lubed it up and penetrated it and immediately thought "OH MY FUCKING GOD, THIS IS WHAT SEX SHOULD BE LIKE". Yep, fucking the fleshlight was SO MUCH BETTER than being with a very attractive chick because this time I could FEEL things. I then tried fucking the Fleshlight while wearing one of the condoms I had been using. Again, I couldn't feel ANYTHING. That's when I bought different condoms.
Then I fucked my next girl, who I was way more comfortable with and I was also highly attracted to. To help matters, I fucked her condomless (we knew we were both clean). She put the Fleshlight to SHAME. I came in less than one minute. I pulled out (she wasn't on the pill, it was stupid I know) when I felt close to cumming but I was too late. I pulled out and shot ALL OVER the bed. I fucked her a bunch more times w/ the new condoms and definitely confirmed that it was the first batch of condoms that really screwed me up.
So will it be magical? It really could be. If the first time I had sex with the second girl was my first experience I would say yeah, it was kind of magical. But the actual virginity taking experience was far from it.