There is provided a method of gas lift having the steps of positioning a valve seat downhole in a gas well experiencing hydrostatic loading, the valve seat having a gas flow channel, and providing a valve closure movable between a closed position engaged with the valve seat to close the gas flow channel and an open position spaced from the valve seat permitted a flow of gas through the gas flow channel, the closure being biased by magnetic attraction to a normally closed position magnetically engaged with the valve seat, such that gas is only able to flow through gas flow channel when gas pressure is sufficient to move the closure to the open position by overcoming the magnetic attraction which maintains the closure in the closed position.