i'm interested in buying some condenser microphones for vocals and acoustic guitar. do i need to buy a phantom power supply for it to work? i'm using the line6 toneport UX1 which does not have phantom power.

Ibanez RG321MH - Weathered Black with an SD Invader in the bridge
Orange Crush 10 watt
yes, condensor mics require phantom power to work. you can get a decent preamp with phantom power, run the mic to that, then run the out from the preamp to your toneport. you can get a single channel tube mic preamp for under $100 (dont know about the quality of those though). a decent preamp can give you a nice full sound, so make sure you get something with some good quality.
The difference in preamps is null until you learn what you are doing. Don't think you need to start out with anything expensive. I've got expensive preamps and getting great tones is still a challenge.