In its original printings in the early 1990s, Phantom sold over 80,000 copies in hardcover and over 600,000 in paperback versions. Besides English language versions, Phantom was published in Japanese, Spanish, Danish, Dutch and Swedish. The original publishers were Transworld (in the UK), Random House, and Bantam/Doubleday/Dell.  The novel won the prestigious British Romantic Novel of Year in 1991.

Publisher's Weekly called the novel "a powerful and moving tour de force . . ." and said that Kay "adds a new depth and perspective, moving well beyond the familiar boundaries of the story. . . Haunting and unforgettable, this is a book to be savored, a sensual and often poetic exploration of a man's internal conflict between good and evil and of a search for love amidst darkness and despair . . . "                           

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