Valuing and Collecting Prints, Editions, and Multiples

How do i determine how much my print is worth

Valuation of art is more of an art than a science. However art prints, editions, and multiples by definition are fungible with each other, to some extent. First let’s define what these works of art are.

What is a print, edition, multiple?

Recently prints have started to make a resurgence in the global art marketplace. However, prints have been made for a long time since the era of Picasso. New hot artists like Kaws and Banksy have brought the interest of this type of art to a new generation. Prints are typically works on paper made with a number of examples or editions, and are usually signed and numbered. Multiples are sculptures that are three dimensional in nature and also made in an edition. Prints are usually much less expensive than their canvas originals by the same artist with the hope that younger or new collectors can use it as an entry point for collecting that artist. In general, prints can be priced at around 10-25% of the price of an artist’s original unique work on paper.

Non-editioned multiples can be limited edition or open edition. Limited editions are artworks that are limited in nature but not numbered. Open editions are artworks that can be made indefinitely at the artist’s discretion. There are also variable editions where each edition has a small variation in it. Popular artists like Kaws and Bansky create editions in different colorways (i.e most of Kaws figurines come in brown, black, and gray). Each colorway is considered its own edition.

Why are they valuable?

The prints and editions are done with the artist overseeing the work. If the work is done in the manner of an artist or under their influence, it could be called an “after.” Some “after’s” like Jean Michel Basquiat’s after’s are worth 5-6 figures. Other “after’s” like open editioned posters are not as valuable. Keith Haring “after” prints of his famous Pop Shop series are worth less than 1% of the actual edition that he signed.

Typically if a work is included in an artist’s catalog raisonne, it is considered to be part of the artist’s oeuvre and has some value to it. The major auction houses have now dedicated a sale to prints, editions, and multiples multiple times a year.

How do I determine its value?

Since by definition there is more than one edition of each artwork, there tends to be more times a particular edition transacts. With sites like Dogstreets.com and Heritage Auctions (ha.com), you can see what the transaction history of the print is and the direction it is trending. It is not an exact science, but with enough data of some of the more popular prints, you can get a pretty good idea of what its value will be.

Why shouldn’t i sell my print outright

You definitely can sell the print outright! However, there are various fees associated with it. You might see a sold price on an auction site for $10,000. However that means that the bidder bid $8000 and the auction house added another 25% for buyer’s premium (some buyer’s premiums are as low as 15% while others are as high as 32%, make sure you check before you bid!). This is the fee the auction house charges to the buyer for bidding. (Weird, but they do!)

So from that $10,000 only $8,000 of it goes to you, or does it? The auction house also takes what they call a seller’s premium which can range anywhere from 0-20%. So let’s say on average the auction house takes 15% from the seller (about what eBay takes). That nets you $6,800. The buyer pays $10,000 and of that $3,200 or about a third goes to the auction house. Transaction fees are high!

On top of that, the print is a limited edition item to never have been created again. In theory, that means that the value can only go up. Of course this is theory as artist markets ebb and flow like most other markets.

Depending on how the artwork is categorized, you also have to pay capital gains taxes. Selling art is not only very hard, it is expensive!

What artists should i collect and why do you only loan on certain artists

The artists that you collect should be a personal question to you. As most gallerists or other art professionals will tell you, you should only collect what you enjoy. Predicting the next Basquiat or Warhol is near impossible. If you buy what you like, you’ll be able to reap the benefits by enjoying the piece.

We loan on artists that have a well defined market. Most of the time that means that prints by the artist are over $2,500. Because the art market is so fickle, we need to ensure that not only is there a market for the artist, but that the market is somewhat stable. Unfortunately most emerging artists do not fall into this category, but if you are unsure, go ahead and submit a request and we will see if we can service you.

Why do you only buy prints and not originals

For us, prints, multiples, and editions are easier to value. Typically they have traded more than once in a public auction and have relatively good liquidity. An original painting is more valuable than a print, however, because by nature it is unique, it is much harder to value and its true value can only be determined when an auctioneer says “sold!”

Where to buy prints, auction, secondary, primary

Prints can be bought anywhere from eBay to top tier auction houses like Sotheby’s and Christies. You can also find prints on sites like StockX or at art galleries. Every so often we will have prints that we need to sell. Please email us with what you are looking for or subscribe to our future newsletter which will have a listing of prints that we are selling