January has provided the art market with signs of green shoots going into 2024, especially in the Prints and Multiples arena. From auction records to freshly curated sections at the London Art Fair, the market is feeling cautious, but certainly optimistic.

The Phillips auction that was held last week showed some very positive signs for the Prints and Multiples market. The sale achieved 24% above the low estimate with a very impressive sell-through rate of 92%.

One such highlight was the Banksy ‘Banksquiat (Grey) - Signed’. This work achieved £60,960; over double its low estimate of £30,000. Similarly positive results can be seen for the ‘Toxic Mary - Signed’ and the ‘Weston Super Mare - Unsigned’, both of which achieved above the high estimate.

This indicates that the Banksy market might be beginning to move out of the period of softening that has been felt following the Covid bubble. As such, the current market presents an opportunity to acquire very sought-after Banksy works at an attractive price point, before another potential rise in prices.

Female artists also presented impressive results in this auction. The four Tracey Emin works that were offered all met or exceeded their estimates, with ‘In My Mind II’ setting a new auction record for an Emin etching at £8,255. Similarly, four Bridget Riley works were presented in the auction, all of which surpassed their high estimates and three of which made auction records for those specific editions.

Last week also saw The London Art Fair return. It was impossible to walk around the fair without seeing multiple Bridget Riley works, reinforcing her current popularity.

It wasn’t just Riley that proved popular at LAF, Prints and Multiples were in abundance and being promoted by both the fair and galleries alike.

For the first time in its 36 year history at the 2024 edition of London Art Fair, the Fair introduced a new Prints and Editions section, featuring galleries whose displays focused on limited editions.
- London Art Fair

This elevation of Prints and Multiples can be seen in the wider context of the art market itself. In 2023, the market saw an 18% increase in sales in Prints and Multiples. Despite a slight decline in auction sale values, there was an increase in the number of lots sold, suggesting an increased level of interest in more affordable pieces.

Prints and Multiples also lend themselves to the increasing demand for online purchases. Since Covid-19, there has been a return to the physicality of galleries and fairs, but the time in lockdown has hugely boosted the possibilities of online sales and it appears that it is only continuing to grow. This move to online allows for greater accessibility of works as well as easier cost comparisons for buyers looking to make a good investment.

With auction rooms getting quieter and more galleries turning to online platforms, this shows an appetite in the market that suits Prints and Multiples well.

Overall, things are looking a lot more positive as we move into 2024 than this time last year. Signs of growth and price increases are present, auction records are being set and the Prints and Multiples section of the market is proving to be especially popular.

Here at Hang-Up we have been running both a physical and online space for over 15 years and specialise in the sale of Prints and Multiples at competitive prices while also offering some original pieces.

If you are considering investing in the art market this year, whether you're a seasoned collector or a newcomer to the world of art, I would love to be able to assist you in navigating the landscape. We’re committed to providing personalised guidance and access to a diverse range of contemporary artworks that align with your taste and investment goals.

Additionally, if you are considering refreshing your collection and have secondary market works you're contemplating selling, we're delighted to offer you a complimentary appraisal service for consignment. Simply reply to this email to reach out or to schedule an appointment.

We're here to assist you in every step of your art journey.