The latest London print auctions at Phillips, Christie’s, Sotheby’s and Bonhams provide a useful snapshot of the editions market in 2026. Across the artists we follow closely at Andipa - David Hockney, Andy Warhol, Roy Lichtenstein, Banksy, Damien Hirst, Keith Haring, Pablo Picasso, Joan Miró and Francis Bacon - the overall picture is one of continued demand, but with increasingly selective buying. Collectors remain willing to compete for strong examples by established artists, while weaker, less recognisable or ambitiously priced works can be treated far more cautiously. The most significant question for us this season, however, has been David Hockney.
Hockney after his death
Following David Hockney’s death in June 2026, we made the decision at Andipa to pause sales of his work. The death of an artist of Hockney’s importance can create a period of uncertainty. Increased attention, reduced willingness among owners to sell and heightened demand can all affect the market in the short term. Rather than immediately attempting to establish new prices, we felt it was more appropriate to observe how the secondary market responded.
The September auction season has now provided the first meaningful body of evidence. Phillips’ annual dedicated David Hockney sale realised approximately £2.04 million, with 75 of 77 lots sold. The equivalent sale realised approximately £861,000 in 2025 and £1.79 million in 2024. At first glance, the difference is substantial. However, auction totals should always be approached with some caution. No two sales contain exactly the same material. Differences in subject, date, edition size, signature status, condition, provenance, rarity and the quality of individual impressions can all have a significant impact on the prices achieved. The overall value and number of works included in a sale can also vary considerably from year to year.
For this reason, it would be misleading to conclude simply that Hockney’s market has risen by the same percentage as the increase in the annual auction total. What can reasonably be said is that demand for Hockney has remained very strong following his death. Phillips reported a 97% sell-through rate by lot and fourteen new auction records in its dedicated 2026 sale, while Hockney works also attracted significant bidding across the wider September auctions.
This suggests considerable depth in the market, particularly for works from his most recognised periods and subjects. The distinction is important. The evidence does not suggest that every Hockney print has automatically increased in value. Instead, it points towards continued confidence in the artist at the stronger end of the market, with collectors remaining prepared to compete for desirable examples. For Andipa, this was precisely why we chose to pause.
Immediately following Hockney’s death, there was not enough market evidence to determine whether the increased attention would translate into sustained pricing. The September sales now provide a clearer indication of how buyers are responding, although it remains too early to define a completely new posthumous price level across his editions as a whole.
A selective market
The broader editions market follows a similar pattern. Warhol and Lichtenstein remain among the most established and liquid areas of the post-war print market. The recent London auctions continued to demonstrate demand for both artists, particularly for recognisable imagery, important series and strong examples. This is consistent with a wider trend in the current market: collectors appear increasingly focused on quality rather than simply buying an artist’s name. The same can be seen with Banksy. Banksy’s print market has undergone a significant correction from the exceptional levels seen during the 2020–21 period. The current market appears considerably more measured. Important and recognisable images continue to attract substantial interest, while buyers are increasingly sensitive to factors such as signature, edition, condition, certification and price.
Rather than the broad speculative demand seen several years ago, the market today looks more established and discriminating.
Picasso and Miró
The recent sales also showed continued demand for works by Picasso and Miró. Both artists benefit from long-established international collector bases and extensive printmaking careers. Their markets are mature, meaning that differences between individual works are especially important.
Subject, period, technique, edition size, condition and catalogue importance can all result in significant differences in value. The September results nevertheless demonstrated that buyers remain active when strong works come to market at sensible estimates.
Hirst, Haring and Bacon
Damien Hirst, Keith Haring and Francis Bacon present a more varied picture. Hirst’s editions market is broad, ranging from highly recognisable imagery to very large edition sizes and more decorative series. As a result, prices can vary considerably, and the latest auctions again demonstrated the importance of image, scarcity and pricing. Haring continues to attract a broad international collector base. His instantly recognisable visual language and relatively accessible entry points compared with some of the other major post-war artists continue to support demand. Bacon’s print market requires particularly careful consideration. Works associated with Bacon can differ considerably in date, production, publisher and relationship to the artist’s original paintings and drawings. These distinctions are important when considering both desirability and value.
What do the latest auctions tell us?
The September auction season does not point towards a market in which all prints are rising uniformly. Instead, it suggests a market that is becoming increasingly selective. Collectors continue to pay strongly for important images, good examples and works with scarcity or particular art-historical significance. At the same time, buyers appear increasingly prepared to reject works where condition, pricing or desirability do not align. For Warhol, Lichtenstein, Picasso and Miró, this reinforces the strength of established, mature markets. For Banksy and Hirst, it suggests a more disciplined environment than in previous periods of rapid growth. For Hockney, the situation is more significant.
The first substantial auction season following his death has shown that demand remains extremely strong. High sell-through rates, increased overall auction activity and a number of record results indicate continued confidence among collectors. However, it is important not to interpret this as a simple percentage increase across Hockney’s entire market. Every edition needs to be considered individually, taking into account subject, date, edition, signature, condition, provenance and comparable works. That is why the decision to pause Hockney sales immediately following his death was important. It allowed the market time to react before attempting to establish new pricing.
We now have considerably more information than we did in June.
The early indication is that Hockney’s market remains exceptionally strong. Whether the current level of demand represents a permanent adjustment or an initial posthumous response will become clearer as more comparable works return to auction over the coming seasons.
As always, auction results are a useful guide rather than a direct retail price list. Published prices may include buyer’s premium, while additional costs including Artist’s Resale Right and taxes can also apply. Condition, provenance, framing and other characteristics can further distinguish one impression from another. The value of the recent auctions therefore lies less in any single result than in the broader pattern they reveal: strong demand for the best works, increasingly selective buyers, and a market that continues to reward quality.
