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Peacekeeper ยฃ800!, by runningdog on Nov 11, 2007 21:17:14 GMT 1, for a 1 in 400 edition litho? I'd say they got ripped off.
for a 1 in 400 edition litho? I'd say they got ripped off.
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craigf
Full Member
๐จ๏ธ 8,557
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May 2007
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Peacekeeper ยฃ800!, by craigf on Nov 11, 2007 21:17:31 GMT 1, There is a thread on here re this and a minotaur that both sold very cheaply
Would have liked to have been the buyer of either (or both!)
There is a thread on here re this and a minotaur that both sold very cheaply
Would have liked to have been the buyer of either (or both!)
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Peacekeeper ยฃ800!, by hasselhoff on Nov 11, 2007 21:19:31 GMT 1, It's hard to keep pace with this forum sometimes, I've just found the other threads. ยฃ800 was a bargain considering the original sales price!
It's hard to keep pace with this forum sometimes, I've just found the other threads. ยฃ800 was a bargain considering the original sales price!
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craigf
Full Member
๐จ๏ธ 8,557
๐๐ป 846
May 2007
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Peacekeeper ยฃ800!, by craigf on Nov 11, 2007 21:25:23 GMT 1, Hi Frankie, when is your site going live? Seems to have been down a long time...
Hi Frankie, when is your site going live? Seems to have been down a long time...
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Peacekeeper ยฃ800!, by finsburyparkranger on Nov 11, 2007 21:27:47 GMT 1, It's hard to keep pace with this forum sometimes, I've just found the other threads. ยฃ800 was a bargain considering the original sales price!
The original sale price means nothing really. That quickly changes (as Nu says) according to mostly the edition size (and strength of art in relation to other art available). Never assume the price will go up, if the starting price is very high then be careful. On the other hand if the art is on the secondary market and has been consistently moving in one direction for years, then you've got a much safer bet. Buying from source is often a good idea but not always.
It's hard to keep pace with this forum sometimes, I've just found the other threads. ยฃ800 was a bargain considering the original sales price! The original sale price means nothing really. That quickly changes (as Nu says) according to mostly the edition size (and strength of art in relation to other art available). Never assume the price will go up, if the starting price is very high then be careful. On the other hand if the art is on the secondary market and has been consistently moving in one direction for years, then you've got a much safer bet. Buying from source is often a good idea but not always. |
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Peacekeeper ยฃ800!, by mcnuts on Nov 11, 2007 21:32:49 GMT 1, i agree FPR but there are a number of factors in the recent ebay sale and all in all, it's a bad time to sell it seems. Prices for everything are down if ebay is used as a judge but with various auctions of AM's stuff coming up it will be interesting to see how the non-ebay world reacts with Angel Bombers estimated at 2000GBP each (despite offers here for 2K a pair), GIWTBB at 7-900GBP (ebay 500GBP) and the list goes on.
i agree FPR but there are a number of factors in the recent ebay sale and all in all, it's a bad time to sell it seems. Prices for everything are down if ebay is used as a judge but with various auctions of AM's stuff coming up it will be interesting to see how the non-ebay world reacts with Angel Bombers estimated at 2000GBP each (despite offers here for 2K a pair), GIWTBB at 7-900GBP (ebay 500GBP) and the list goes on.
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Peacekeeper ยฃ800!, by lesbianwednesdays on Nov 11, 2007 21:44:23 GMT 1, a massive bargain! i presume it went to someone in the states? if not you have the import duty/vat etc to add as well as shipping but that said, it must come in below cost, no?
well done that buyer, it is a quality print and a symbolic micallef image. for that reason alone in the long term, ie more than 3 months, it will be one of the most iconic micallef's there is, up there with 21stCL and bomber girl IMHO, even though i prefer the charcoal litho's.
this image is so representative of antony's work and profile that it is and will always be, synonimous with him.
well done that buyer 
a massive bargain! i presume it went to someone in the states? if not you have the import duty/vat etc to add as well as shipping but that said, it must come in below cost, no? well done that buyer, it is a quality print and a symbolic micallef image. for that reason alone in the long term, ie more than 3 months, it will be one of the most iconic micallef's there is, up there with 21stCL and bomber girl IMHO, even though i prefer the charcoal litho's. this image is so representative of antony's work and profile that it is and will always be, synonimous with him. well done that buyer |
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motor
Junior Member
๐จ๏ธ 1,839
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December 2006
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Peacekeeper ยฃ800!, by motor on Nov 11, 2007 21:49:59 GMT 1, as I said before. Good time to buy if you like AM.
as I said before. Good time to buy if you like AM. |
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Peacekeeper ยฃ800!, by lesbianwednesdays on Nov 11, 2007 21:55:27 GMT 1, as I said before. Good time to buy if you like AM. For sure .... Get the charcoal EyeStorms!
ssshhh, i'm on it
as I said before. Good time to buy if you like AM. For sure .... Get the charcoal EyeStorms! ssshhh, i'm on it |
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Peacekeeper ยฃ800!, by manchestermike on Nov 11, 2007 21:58:31 GMT 1, as I said before. Good time to buy if you like AM. For sure .... Get the charcoal EyeStorms!
Don't tell everyone! ;D
as I said before. Good time to buy if you like AM. For sure .... Get the charcoal EyeStorms! Don't tell everyone! ;D |
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patrese
New Member
๐จ๏ธ 233
๐๐ป 19
July 2007
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Peacekeeper ยฃ800!, by patrese on Nov 11, 2007 22:03:18 GMT 1, It's hard to keep pace with this forum sometimes, I've just found the other threads. ยฃ800 was a bargain considering the original sales price!
the original sales price was a rip off
It's hard to keep pace with this forum sometimes, I've just found the other threads. ยฃ800 was a bargain considering the original sales price! the original sales price was a rip off |
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medicjones
New Member
๐จ๏ธ 270
๐๐ป 3
November 2006
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Peacekeeper ยฃ800!, by medicjones on Nov 11, 2007 22:07:22 GMT 1, any idea why the micallef prices have bombed? Friendly fire, judgement day were 3k prints only a few months ago. theres a JD on ebay now with a bin of 1300 and no one's touching it!
any idea why the micallef prices have bombed? Friendly fire, judgement day were 3k prints only a few months ago. theres a JD on ebay now with a bin of 1300 and no one's touching it!
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Peacekeeper ยฃ800!, by bobbyt23 on Nov 11, 2007 22:12:00 GMT 1, any idea why the micallef prices have bombed? Friendly fire, judgement day were 3k prints only a few months ago. theres a JD on ebay now with a bin of 1300 and no one's touching it!
I think it's probably the same reason a lot of stuff has dropped in price. No one has any money right now due to all the good releases recently.
There are some bargains to be had right now I think.
any idea why the micallef prices have bombed? Friendly fire, judgement day were 3k prints only a few months ago. theres a JD on ebay now with a bin of 1300 and no one's touching it! I think it's probably the same reason a lot of stuff has dropped in price. No one has any money right now due to all the good releases recently. There are some bargains to be had right now I think. |
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Peacekeeper ยฃ800!, by lesbianwednesdays on Nov 11, 2007 22:26:50 GMT 1, any idea why the micallef prices have bombed? Friendly fire, judgement day were 3k prints only a few months ago. theres a JD on ebay now with a bin of 1300 and no one's touching it! I think it's probably the same reason a lot of stuff has dropped in price. No one has any money right now due to all the good releases recently. There are some bargains to be had right now I think.
exactly, there is so much stuff i want to buy and yet there is no way i can begin to afford it before next year. i'm sure once christmas is out the way we will see more of a level-off from where prices were to where they are now. if i had the money i would be looking to bag what i can just now while prices are relatively cheap.
if i had owt to sell there is no way i would do anything before christmas, that said, those who can i emplore you to take full advantage of the current situation and enjoy it while it lasts.
man, what i could do with ยฃ3/4K............... 
any idea why the micallef prices have bombed? Friendly fire, judgement day were 3k prints only a few months ago. theres a JD on ebay now with a bin of 1300 and no one's touching it! I think it's probably the same reason a lot of stuff has dropped in price. No one has any money right now due to all the good releases recently. There are some bargains to be had right now I think. exactly, there is so much stuff i want to buy and yet there is no way i can begin to afford it before next year. i'm sure once christmas is out the way we will see more of a level-off from where prices were to where they are now. if i had the money i would be looking to bag what i can just now while prices are relatively cheap. if i had owt to sell there is no way i would do anything before christmas, that said, those who can i emplore you to take full advantage of the current situation and enjoy it while it lasts. man, what i could do with ยฃ3/4K............... |
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JD
Junior Member
๐จ๏ธ 1,756
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June 2007
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Peacekeeper ยฃ800!, by JD on Nov 11, 2007 22:56:48 GMT 1, any idea why the micallef prices have bombed? Friendly fire, judgement day were 3k prints only a few months ago. theres a JD on ebay now with a bin of 1300 and no one's touching it! before his LA show there were relatively few Micallef prints available.now that 2,000+ prints have come out,the others have devalued.. which is good for me and many others!
Thats why I always laugh when I remember the adverts we saw pre show on the bay for these prints, buy now before the LA show and prices rocket  Market forces Im afraid
any idea why the micallef prices have bombed? Friendly fire, judgement day were 3k prints only a few months ago. theres a JD on ebay now with a bin of 1300 and no one's touching it! before his LA show there were relatively few Micallef prints available.now that 2,000+ prints have come out,the others have devalued.. which is good for me and many others! Thats why I always laugh when I remember the adverts we saw pre show on the bay for these prints, buy now before the LA show and prices rocket Market forces Im afraid |
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Peacekeeper ยฃ800!, by a4mnt on Nov 11, 2007 23:27:12 GMT 1, any idea why the micallef prices have bombed? Friendly fire, judgement day were 3k prints only a few months ago. theres a JD on ebay now with a bin of 1300 and no one's touching it! before his LA show there were relatively few Micallef prints available.now that 2,000+ prints have come out,the others have devalued.. which is good for me and many others!
i don't agree.
i don't think that the introduction of new prints has devalued the previous prints. its more that so many people were expecting the interest in micallef to increase due to the LA show that the prices were overinflated anyway. the increased interest needed a catalyst, such as a big name getting behind his work (a la Jolie with Banksy) to bring the artists name to a wider audience, such as clueless, cash rich city boys.
banky's prices didn't increase overnight after LA last year. it takes a while for these things to filter through. and its not as if he hasn't got enough prints of his own floating around on the market.
so all the carping on about how micallef's prices have dropped in the market place blah blah blah boring boring boring. the market will find its own level again and this isn't it. i'll stake my collection on that.
buy now if you can, cos the mic prices are not staying down for too long. its a lull across this market and many others including property. lulls are by nature not permanent. because once consumer confidence is returned across many markets, all those lovely prints will be increasing in price again.
i've said it before, who cares what they are worth if you are not selling. stick the fuckers on the wall and look at them.
any idea why the micallef prices have bombed? Friendly fire, judgement day were 3k prints only a few months ago. theres a JD on ebay now with a bin of 1300 and no one's touching it! before his LA show there were relatively few Micallef prints available.now that 2,000+ prints have come out,the others have devalued.. which is good for me and many others! i don't agree. i don't think that the introduction of new prints has devalued the previous prints. its more that so many people were expecting the interest in micallef to increase due to the LA show that the prices were overinflated anyway. the increased interest needed a catalyst, such as a big name getting behind his work (a la Jolie with Banksy) to bring the artists name to a wider audience, such as clueless, cash rich city boys. banky's prices didn't increase overnight after LA last year. it takes a while for these things to filter through. and its not as if he hasn't got enough prints of his own floating around on the market. so all the carping on about how micallef's prices have dropped in the market place blah blah blah boring boring boring. the market will find its own level again and this isn't it. i'll stake my collection on that. buy now if you can, cos the mic prices are not staying down for too long. its a lull across this market and many others including property. lulls are by nature not permanent. because once consumer confidence is returned across many markets, all those lovely prints will be increasing in price again. i've said it before, who cares what they are worth if you are not selling. stick the f uckers on the wall and look at them. |
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lastpost
Junior Member
๐จ๏ธ 1,960
๐๐ป 2
April 2007
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Peacekeeper ยฃ800!, by lastpost on Nov 11, 2007 23:38:48 GMT 1, Nice post Cracka
Nice post Cracka
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loucastel
Junior Member
๐จ๏ธ 1,551
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October 2007
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Peacekeeper ยฃ800!, by loucastel on Nov 11, 2007 23:39:52 GMT 1, Trouble is theses artists are hyped to hell by the media, thats why 21st century lover ,dirty deluxe rocketed in price ,publishers see this and want to ride the wave, Micallef will be around for years but prices for his work will come down ,it has happened time and time again on the contempary market and now it is happening here. some of the contempary artists who were catupulted to stardom for a short time find it difficult to give there stuff away now, they sell their souls to the publishers, and have to churn the stuff out as fast as they can, before their time is over, all media hype .
Trouble is theses artists are hyped to hell by the media, thats why 21st century lover ,dirty deluxe rocketed in price ,publishers see this and want to ride the wave, Micallef will be around for years but prices for his work will come down ,it has happened time and time again on the contempary market and now it is happening here. some of the contempary artists who were catupulted to stardom for a short time find it difficult to give there stuff away now, they sell their souls to the publishers, and have to churn the stuff out as fast as they can, before their time is over, all media hype .
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Peacekeeper ยฃ800!, by lesbianwednesdays on Nov 11, 2007 23:41:37 GMT 1, Trouble is theses artists are hyped to hell by the media, thats why 21st century lover ,dirty deluxe rocketed in price ,publishers see this and want to ride the wave, Micallef will be around for years but prices for his work will come down ,it has happened time and time again on the contempary market and now it is happening here. some of the contempary artists who were catupulted to stardom for a short time find it difficult to give there stuff away now, they sell their souls to the publishers, and have to churn the stuff out as fast as they can, before their time is over, all media hype .
what media?
Trouble is theses artists are hyped to hell by the media, thats why 21st century lover ,dirty deluxe rocketed in price ,publishers see this and want to ride the wave, Micallef will be around for years but prices for his work will come down ,it has happened time and time again on the contempary market and now it is happening here. some of the contempary artists who were catupulted to stardom for a short time find it difficult to give there stuff away now, they sell their souls to the publishers, and have to churn the stuff out as fast as they can, before their time is over, all media hype . what media? |
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loucastel
Junior Member
๐จ๏ธ 1,551
๐๐ป 53
October 2007
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Peacekeeper ยฃ800!, by loucastel on Nov 11, 2007 23:47:37 GMT 1, Trouble is theses artists are hyped to hell by the media, thats why 21st century lover ,dirty deluxe rocketed in price ,publishers see this and want to ride the wave, Micallef will be around for years but prices for his work will come down ,it has happened time and time again on the contempary market and now it is happening here. some of the contempary artists who were catupulted to stardom for a short time find it difficult to give there stuff away now, they sell their souls to the publishers, and have to churn the stuff out as fast as they can, before their time is over, all media hype . what media?
Trouble is theses artists are hyped to hell by the media, thats why 21st century lover ,dirty deluxe rocketed in price ,publishers see this and want to ride the wave, Micallef will be around for years but prices for his work will come down ,it has happened time and time again on the contempary market and now it is happening here. some of the contempary artists who were catupulted to stardom for a short time find it difficult to give there stuff away now, they sell their souls to the publishers, and have to churn the stuff out as fast as they can, before their time is over, all media hype . what media? I think they call it television, and newspapers which have been around for a bit longer. |
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stuey09
New Member
๐จ๏ธ 49
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August 2008
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Peacekeeper ยฃ800!, by stuey09 on Nov 11, 2007 23:48:46 GMT 1, I disagree with you in the case of Micallef, Lou. His audience lies way beyond this forum in the longterm. He's not street art and never will be. His market will continue to grow as more ordinary art buyers see his work. God knows what may happen if the Brit' Museum tour takes him up a notch. Said it loads of times before, if you've got it keep it, if you want his work, get it now whilst you can grab a bargain. It won't always be this easy.
I disagree with you in the case of Micallef, Lou. His audience lies way beyond this forum in the longterm. He's not street art and never will be. His market will continue to grow as more ordinary art buyers see his work. God knows what may happen if the Brit' Museum tour takes him up a notch. Said it loads of times before, if you've got it keep it, if you want his work, get it now whilst you can grab a bargain. It won't always be this easy.
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Peacekeeper ยฃ800!, by darjeeling on Nov 11, 2007 23:52:08 GMT 1, i agree FPR but there are a number of factors in the recent ebay sale and all in all, it's a bad time to sell it seems. Prices for everything are down if ebay is used as a judge but with various auctions of AM's stuff coming up it will be interesting to see how the non-ebay world reacts with Angel Bombers estimated at 2000GBP each (despite offers here for 2K a pair), GIWTBB at 7-900GBP (ebay 500GBP) and the list goes on. true but...they are all still above the original price. GIWTBB is still selling for at least 66% above original price, the 4 laz litos are now selling for 33% below. And GIWTBB is almost a poster with an edition of 1000! So that seems to say that the image is everything. I'll be framing 1(!) of my GIWTBB at some point, the image is strong and it seems to be generally a keeper. A framed piece is another one out of circulation. I feel the 4 lithos just were not strong enough and not many people seem to be keeping them. And in LA, don't forget people were getting them without the VAT and they were pretty much buying as many sets as they could afford. There wasn't enough demand for a strict 1 per customer so obviously a blind eye was turned as people seemed to be buying multiple sets over there. Creditcard bills are in and interest is mounting!
I think GIWTBB is still at a premium because it's in more peoples price range, even at a slight premium. So many more people can spare ยฃ500 as opposed to ยฃ2000. But I think it's still overpriced. And personally it's not an image I want hanging in my house even though its well drawn. And adding 1 or 2000 prints to the market will have an effect on all prints. People now have options, and if buying a Minoutaur Weapon would have killed them financially, they will compromise with a Improvised Minotaur, or something else.
i agree FPR but there are a number of factors in the recent ebay sale and all in all, it's a bad time to sell it seems. Prices for everything are down if ebay is used as a judge but with various auctions of AM's stuff coming up it will be interesting to see how the non-ebay world reacts with Angel Bombers estimated at 2000GBP each (despite offers here for 2K a pair), GIWTBB at 7-900GBP (ebay 500GBP) and the list goes on. true but...they are all still above the original price. GIWTBB is still selling for at least 66% above original price, the 4 laz litos are now selling for 33% below. And GIWTBB is almost a poster with an edition of 1000! So that seems to say that the image is everything. I'll be framing 1(!) of my GIWTBB at some point, the image is strong and it seems to be generally a keeper. A framed piece is another one out of circulation. I feel the 4 lithos just were not strong enough and not many people seem to be keeping them. And in LA, don't forget people were getting them without the VAT and they were pretty much buying as many sets as they could afford. There wasn't enough demand for a strict 1 per customer so obviously a blind eye was turned as people seemed to be buying multiple sets over there. Creditcard bills are in and interest is mounting! I think GIWTBB is still at a premium because it's in more peoples price range, even at a slight premium. So many more people can spare ยฃ500 as opposed to ยฃ2000. But I think it's still overpriced. And personally it's not an image I want hanging in my house even though its well drawn. And adding 1 or 2000 prints to the market will have an effect on all prints. People now have options, and if buying a Minoutaur Weapon would have killed them financially, they will compromise with a Improvised Minotaur, or something else. |
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loucastel
Junior Member
๐จ๏ธ 1,551
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October 2007
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Peacekeeper ยฃ800!, by loucastel on Nov 12, 2007 0:03:07 GMT 1, I disagree with you in the case of Micallef, Lou. His audience lies way beyond this forum in the longterm. He's not street art and never will be. His market will continue to grow as more ordinary art buyers see his work. God knows what may happen if the Brit' Museum tour takes him up a notch. Said it loads of times before, if you've got it keep it, if you want his work, get it now whilst you can grab a bargain. It won't always be this easy.
I disagree with you in the case of Micallef, Lou. His audience lies way beyond this forum in the longterm. He's not street art and never will be. His market will continue to grow as more ordinary art buyers see his work. God knows what may happen if the Brit' Museum tour takes him up a notch. Said it loads of times before, if you've got it keep it, if you want his work, get it now whilst you can grab a bargain. It won't always be this easy. I think you are totaly right but I think only for selected pieces of his work,(my favorite being "we come in peace") bit like Piccasso where some of his stuff is millions and others a few hundred, also no he is definately not street art more contemporary which is an even more fickle market, even artists who have been voted artist of the year seem to struggle to sell their work, at least with street art you have a hardcore fan base who have been around for years and will still be there in years to come, a lot depends on how hard his publisher pushes him to get the work out, flood the market with something and it will de-value, but or course to the true collector that doesnt matter as someone said earlier. |
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Peacekeeper ยฃ800!, by lesbianwednesdays on Nov 12, 2007 0:15:05 GMT 1, I think they call it television, and newspapers which have been around for a bit longer.
;D good point, although i'm yet to read about antony in the press or watch anything about him on tv. adam neate has had a bit of media coverage but antony, very little. any/all hype has come from LAZ, us lot and, admittedly, arena magazine.
I think they call it television, and newspapers which have been around for a bit longer. ;D good point, although i'm yet to read about antony in the press or watch anything about him on tv. adam neate has had a bit of media coverage but antony, very little. any/all hype has come from LAZ, us lot and, admittedly, arena magazine. |
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Peacekeeper ยฃ800!, by a4mnt on Nov 12, 2007 0:19:24 GMT 1, deciding between minotaur weapon or improvised minotaur is a question of exclusivity (as well as all the usual factors, ie actually liking the image etc).
MW, apart from being fantastic, will also only be hanging in a maximum of 49 other places - and that too some people is a nice thing to know.
I say buy both though.
deciding between minotaur weapon or improvised minotaur is a question of exclusivity (as well as all the usual factors, ie actually liking the image etc).
MW, apart from being fantastic, will also only be hanging in a maximum of 49 other places - and that too some people is a nice thing to know.
I say buy both though.
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loucastel
Junior Member
๐จ๏ธ 1,551
๐๐ป 53
October 2007
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Peacekeeper ยฃ800!, by loucastel on Nov 12, 2007 0:23:20 GMT 1, I think they call it television, and newspapers which have been around for a bit longer. ;D good point, although i'm yet to read about antony in the press or watch anything about him on tv. adam neate has had a bit of media coverage but antony, very little. any/all hype has come from LAZ, us lot and, admittedly, arena magazine.
I think they call it television, and newspapers which have been around for a bit longer. ;D good point, although i'm yet to read about antony in the press or watch anything about him on tv. adam neate has had a bit of media coverage but antony, very little. any/all hype has come from LAZ, us lot and, admittedly, arena magazine. Fraid I have to disagree with that ,a lot of the hype actually came from eyestorm. |
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Peacekeeper ยฃ800!, by runningdog on Nov 12, 2007 10:43:45 GMT 1, I posted this rant before the AM Laz releases. Damn I'm good.
I've been reading about economic crashes recently, what with this Northern Rock malarkey in the papers. The funniest bubble/price crash occurred in the 1620s in Holland and involved Tulips. At the end of the 16C tulips were first imported to Holland and Germany from Turkey, they were rare and the preserve of a few connisseurs, and commanded high and increasing prices. At some point the middle classes got wind and started 'investing' in tulips: Prices skyrocketed and some people sold their entire estates to acquire a single bulb. Naturally, being a plant, there was soon an abundant supply of tulips, prices crashed over 90% and a lot of people lost everything. Bonkers! The Stock Market Crash of 1929 was another example of speculative investing gone crazy ("irrational exuberance" as economists call it). Investing in the stock market took off and a few people got rich. The masses got wind of this and started to borrow huge amounts to get in on the action - banks were actually lending for share purchases. Your classic bubble. Famously when it burst, as all bubbles do, 11 traders threw themselves from high rise buildings in Manhattan. Now we have Micallef and Banksy... we've long passed the point where a majority bought prints because they wanted them on the walls. People are buying these purely as a speculative investment, and everyone here knows it. This time, though, there's a difference: instead of people queuing and buying up a release of 100 or maybe even 500 prints, there are soon to be 2,600 Micallef prints available to the secondary market, most of which were sold at ready-made, secondary market prices. It's a bit like the tulips, and that 17C equivalent of Steve Lazirides/Micallef, who suddenly realized that he could just grow loads of tulips! Anyway, my rambling point is, we're due for a correction. It always happens, it's part of a natural process. This is great for people who just really want a Micallef image on the wall... not so great for the fat bald guy who got his family to spend ยฃ30,000 on a bunch of posters. He will soon feel more than a little silly. I could be wrong but you can't argue with history.
I posted this rant before the AM Laz releases. Damn I'm good. I've been reading about economic crashes recently, what with this Northern Rock malarkey in the papers. The funniest bubble/price crash occurred in the 1620s in Holland and involved Tulips. At the end of the 16C tulips were first imported to Holland and Germany from Turkey, they were rare and the preserve of a few connisseurs, and commanded high and increasing prices. At some point the middle classes got wind and started 'investing' in tulips: Prices skyrocketed and some people sold their entire estates to acquire a single bulb. Naturally, being a plant, there was soon an abundant supply of tulips, prices crashed over 90% and a lot of people lost everything. Bonkers! The Stock Market Crash of 1929 was another example of speculative investing gone crazy ("irrational exuberance" as economists call it). Investing in the stock market took off and a few people got rich. The masses got wind of this and started to borrow huge amounts to get in on the action - banks were actually lending for share purchases. Your classic bubble. Famously when it burst, as all bubbles do, 11 traders threw themselves from high rise buildings in Manhattan. Now we have Micallef and Banksy... we've long passed the point where a majority bought prints because they wanted them on the walls. People are buying these purely as a speculative investment, and everyone here knows it. This time, though, there's a difference: instead of people queuing and buying up a release of 100 or maybe even 500 prints, there are soon to be 2,600 Micallef prints available to the secondary market, most of which were sold at ready-made, secondary market prices. It's a bit like the tulips, and that 17C equivalent of Steve Lazirides/Micallef, who suddenly realized that he could just grow loads of tulips! Anyway, my rambling point is, we're due for a correction. It always happens, it's part of a natural process. This is great for people who just really want a Micallef image on the wall... not so great for the fat bald guy who got his family to spend ยฃ30,000 on a bunch of posters. He will soon feel more than a little silly. I could be wrong but you can't argue with history. |
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