Micallef LazInc prints hit the bay instantly!, by umbrella on Jan 20, 2008 14:23:38 GMT 1,

kiki said:

gbh said:

I think Laz deserves an award for best effort in sabotaging flippers for that release.
I'm sure there are many up on walls but there are definitely a lot of ppl who wanted to make a quick buck who are now in pain.
nothing could make me happier.

Regrettably, the "sabotaging" which resulted from the September releases was not restricted to flippers. It affected the whole Micallef market, including the personal collections of those who had been following and supporting Micallef's career prior to him signing up with Steve Lazarides.

I do not believe this was a case of "grab the cash and run". Steve and Antony have invested far too much time and effort in one another for their interests to be limited to a short term money-making scheme. They certainly both have much more to offer than that.

My view is they were very concerned about the hyperinflation that was taking place with the prices for Micallef pieces in the run up to his 'Impure Idols' show in LA. Releasing a large number of prints at relatively high prices in September appears to have been an attempt to cool the market and encourage a slight 'correction' of prices in order to bring them down to a reasonable and sustainable level. This would have been done in the interest of Micallef's medium and long-term career.

Where the miscalculation occurred is that Steve's pricing and large edition sizes did not deter the flippers. The latter were convinced that 'Impure Idols' would do for Micallef what 'Barely Legal' did for Banksy.

The flippers therefore thought that, notwithstanding the high prices and the number of prints for sale, there was still a great deal of money to be made. The market showed them otherwise. Panic selling then created a snowball effect which more or less halved the prices for Micallef's other prints.

This certainly would not have been the intention of either Steve or Antony. It had an adverse impact on confidence at the higher end of the Micallef market as well. How many people are going to buy a £25-£100K Micallef canvas when his print prices are free-falling?

What Micallef needs to do now is keep his head down for a year or so, focus on canvases, and do his best to slowly build up his career again.

Couldnt have said it better Kiki, I have been reading in the background for a while now and find it both disheartening and amusing in equal measures the ammount of blame / sh1t POW and Laz seem to get. People buy prints and dont make an instant fortune.....Laz is to blame, people F5 for a month of their own volition and miss out on a print......POW are b@stards and shouldnt be allowed to sell anything......
If it wasnt for the moaning vultures bleating and hyping everything printed and promoted by Laz and POW, they wouldnt be in this situation in the first place. I know some folk have a more personal and long standing reason to be less that supportive to POW and Laz, but for those that dont have these reasons, think about what and who POW and Laz have brought to the scene...... Banksy, Hewlett, D-face, Insect, Connor H, Micallef, Lucy Mac, 3D, invader, choe, faile / aiko etc etc etc......
The time and commitment shown by both groups should be an indicator that these parties aint out for a fast buck..... even though some would have you think otherwise. Before people start jumping on any bandwagon, its always nice to stop and THINK FOR YOURSELVES.