Contemporary British artist Mr Phantom has caused a stir in the UK art market with the recent release of his new collection. The launch, facilitated by London Art Exchange (LAX), has been met with high demand and speculation from collectors and investors.
The collection, released just last week, has already reached a staggering 75% in reservations or sales, despite not following the traditional first-come, first-served sales model. Instead, access to the collection was carefully curated through a submission and screening process, which has sparked both admiration and controversy within collector circles.
Over 1,000 submissions were received through LAX’s platform and Mr Phantom’s digital PR channels. This prompted the tightening of acceptance criteria, leading to rumors of collectors attempting to transfer or resell their placement opportunities. This unusual phenomenon has only increased demand and speculation surrounding the release.
The market has been buzzing with discussions of reported price guidance for the collection, with smaller 60 x 60 cm works estimated to be priced between £35,000–£50,000, while flagship 100 x 100 cm pieces are expected to fetch between £100,000–£175,000, depending on placement and provenance. The final pricing remains at the discretion of the artist, but the rapid reservations have already positioned this collection as a significant moment in Mr Phantom’s market trajectory.
There has been growing frustration from the artist’s camp towards speculative reselling practices seen in previous years, where early buyers resold works at auctions for double their purchase price, destabilizing price continuity. The latest release appears to counter this behavior, prioritizing long-term collectors over short-term arbitrage, while still acknowledging that early secondary-market activity has helped validate Mr Phantom as a rising secondary-market artist.
One market analyst commented, “There’s always a silver lining with sharp investors. Finding an artist who can break through a saturated market and successfully transition into the secondary sphere is like finding a needle in a haystack. What’s unusual here is that the artist and the gallery are clearly steering that transition deliberately.”
Much of this steering is credited to London Art Exchange, which has gained a reputation for utilizing technology, PR intelligence, social data analysis, and proprietary auction infrastructure to amplify artist visibility. Under the leadership of CEO Kylie James, LAX has pursued a model that diverges from traditional gallery practices, embracing digital distribution, controlled scarcity, and platform-led demand generation.
Industry experts have drawn comparisons between LAX and Pictures on Walls, the influential platform that helped launch some of the UK’s most significant contemporary artists in the early 2000s. With a growing roster that includes Mr Phantom, Gabrielle Malak, Pierre Simone, Deborah Jones, Christina Vega, and Charlotte Araghi, London Art Exchange is emerging as the next investible gateway for collectors seeking early access to highly anticipated releases.
As demand for the Mr Phantom collection continues to rise and acceptance criteria tightens further, it may prove to be less about individual artworks and more about a broader shift. This shift sees artists taking back control over pricing, access, and long-term market narrative, instead of relying on intermediaries.
For more information, visit https://www.thelax.art.
Derick is an experienced reporter having held multiple senior roles for large publishers across Europe. Specialist subjects include small business and financial emerging markets.