Observe · Regulate · Protect — since 2007. 19th OIMAP General Assembly: Singapore, 10–12 June 2026. Programme
Market

Photography and graphic arts

The market for photographic prints, limited editions and artists' books: prints, editions, states and authentication.

Updated : October 28, 2026· 3 min read

Pages in this section

Multiple works, a demanding market

Leaf from a Psalter and Prayerbook: Calendar Page with Labors (recto) and Calendar Page with Peasant (verso) (c. 1524)
Leaf from a Psalter and Prayerbook: Calendar Page with Labors (recto) and Calendar Page with Peasant (verso) (c. 1524)

Photography and graphic arts account for several billion euros, spread across the segments of painting on paper and contemporary. Their particularity is to exist in multiples: prints, editions, states.

The whole challenge is to distinguish the original from the reproduction, the vintage print from the later print, the numbered copy from the copy not for sale.

This section offers three pages: vintage prints, limited editions and artists' books.

  • Photography
  • Prints
  • Editions

Photography and graphic arts in figures

€6.1bnCumulative volume
340,000Lots sold
€2,800Median price
+6.7%Index change

Source: OIMAP Observatory.

The three pages of the section

Breakdown

Photography46%
Prints and engravings28%
Drawings16%
Artists' books10%

Share of the segment's volume.

Leaf from a Missal: The Crucifixion (recto) and Text (verso) (c. 1330–40)
Leaf from a Missal: The Crucifixion (recto) and Text (verso) (c. 1330–40)
Sketch of the Labyrinth of the Villa Pisani, Francesco Guardi (1773–1778(?))
Sketch of the Labyrinth of the Villa Pisani, Francesco Guardi (1773–1778(?))
Nowshera, Kashmir (number 1000), Samuel Bourne (1864)
Nowshera, Kashmir (number 1000), Samuel Bourne (1864)

The original in multiple art

A print or a photograph may exist in several copies, all "originals", provided they were pulled under the artist's supervision. Value then depends on the number of copies, the date of printing, the quality of the print, the signature and the numbering.

A vintage print, made in the artist's lifetime or soon after the exposure, is generally worth much more than a later print made after their death. The distinctions are subtle and call for an expert eye.

The role of rights holders

For many deceased artists, rights holders authorise posthumous prints, often numbered. They are valid on the market if clearly identified as such, but are worth less than vintage prints.

OIMAP issues a certificate that states the nature of the print (vintage, later, posthumous), the edition number, the date and the process used. This certificate has become an expected document for sales above €5,000.

Conservation, a major issue

Works on paper are sensitive to light, humidity, pollutants and handling. A photograph on permanent display may yellow or fade within a few years. A badly mounted print may warp or stain.

OIMAP conservation reports indicate the paper, the technique, any alterations and exhibition recommendations. They are particularly useful for insurers and lenders.

Three groups

Three groups
GroupDistinctive featureMedian price2024 change
Vintage printsVintage prints€4,600+5.9%
Limited editionsContemporary numbered prints€2,400+7.8%
Artists' booksWorks published as books€3,100+6.2%

Landmarks

  1. Invention of photography

    First prints.

  2. Established market

    First specialist sales.

  3. Contemporary photography

    Boom in limited editions.

  4. +6.7%

    A dynamic segment.

Vintage print or later print

Miniature from a Manuscript of the Apocalypse: The War in Heaven (c. 1295)
Miniature from a Manuscript of the Apocalypse: The War in Heaven (c. 1295)
La Belle Jardinère: le magasin de la rue de la Cité pendant sa demolition, Paris, Charles Marville (1864–66)
La Belle Jardinère: le magasin de la rue de la Cité pendant sa demolition, Paris, Charles Marville (1864–66)
The Old Market, Cleveland, Frank Wilcox (1920)
The Old Market, Cleveland, Frank Wilcox (1920)

Photograph or print

St. Catherine of Siena and the Beggar, Giovanni di Paolo (1460s)

Photography

Silver or digital print
  • Prints sometimes in multiples
  • Varied processes
  • Delicate conservation

Growing market.

Hoyshaleshvara Temple Sculpture, Halebidu (Halebeedu), Richard Banner Oakeley (1856–57)

Print

Engraving, lithograph
  • Numbered impressions
  • Known matrices
  • Old market

Established market.

Buying a print with confidence

  1. Identify

    Process, date, edition.

  2. Compare

    With reference prints.

  3. Document

    Invoice, certificate, provenance.

  4. Preserve

    Storage and display conditions.

  5. Register

    Work passport.

Documents to ask for

Vocabulary of photography

Vintage print
Print made in the artist's lifetime.
Posthumous print
Print made after death.
Edition
All the copies of a multiple work.
Matrix
Plate or negative used for printing.

Frequently asked questions

Is a digital photograph an original work?

Yes, if the artist has published and numbered it.

How should a print be stored?

Away from light, in neutral paper.

Is an artist's book a multiple?

Yes, it exists in numbered copies.

Where can I see prices?

In the databases.

Useful documents

Contacts

Temple of Athene Nike. Venus Victrix—Wingless Victory, Dimitrios Constantin (c. 1850s–60s)
Temple of Athene Nike. Venus Victrix—Wingless Victory, Dimitrios Constantin (c. 1850s–60s)
OIMAP ObservatoryParis — Headquarters+33 1 00 00 01 00observatoire@oimap.exampleMonday to Friday, 9 am – 5 pm

See the vintage prints

The Fortress, Togluckabad, Louis-Théophile Marie Rousselet (1865–68, published 1869–70)

The first group of the segment.

Vintage prints
Image credits (22)
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