Five magicians vanished with masks (7)

I believe the answer is:

vizards

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'vanished with masks' is the definition.
I know nothing about this answer so I cannot judge whether this works.

'five magicians' is the wordplay.
'five' becomes 'V' (Roman numeral).
'magicians' becomes 'izards' (I am not sure about this - if you are sure you should give a lot more credence to this answer).
'v'+'izards'='VIZARDS'

Can you help me to learn more?

I've seen this clue in The Hindu.

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