David Hockney Prints: An Investment Opportunity After Artist's Death

The passing of renowned modern artist David Hockney at the age of 88 has intensified collector interest in his work, including his prints, which are being presented as a potential investment opportunity. While original paintings by Hockney can command prices in the tens of millions, limited edition prints offer a more accessible entry point into his market.

Dealers are actively promoting Hockney prints, with some advertising potential annual returns of 5 to 10 percent and passive income. According to one gallery's guide, prints constituted 85 percent of all Hockney lots sold at auction between 2000 and 2025, with the £10,000 to £50,000 price band generating over £31 million from approximately 1,450 lots.

Understanding Print Value

Ellie Smith, associate director at Philip Mould & Company, advises caution, emphasizing the need for due diligence. "Limited edition prints can be a relatively affordable way of getting into the market but be aware that values can vary hugely depending on the print run, whether there were under a hundred or in the thousands," she stated. Some promotional material suggests significant gains, with one report claiming a 72 percent year-on-year surge in Hockney print sales value in 2023, a period when many other established artists saw declines.

However, Smith cautions against purchasing art primarily for investment returns. "Your primary reason for buying should be because you love the art – not how much money it may nor may not be worth in a few years or whether it fits in with your home decorations and colour schemes," she said. "Remember, just like with stocks and shares values can go down as well as up and you cannot guarantee returns."

The overall art market, according to Knight Frank's Luxury Investment Index, saw a 0.4 percent decrease in investment value last year, though it remains up 38.6 percent over a decade. Notably, a collection of Hockney's iPad drawings, "Arrival of Spring," set new benchmarks for his prints, with a second release in March selling for 136 percent above estimate.

Entry Points and Considerations

Galleries offer Hockney lithograph posters from 1998, limited to 1,000 copies, for around £850. Older lithographs from smaller runs can fetch higher prices, with etchings ranging from £950 to £18,500. Recent iPad drawings, printed on fabric, sold for £50,000 to £70,000 each at auction.

Buyers can explore the secondary market through auction houses like Sotheby's, or the primary market by contacting galleries that represent the artist, such as Annely Juda Fine Art and Grace Gallery. Contemporary artists like Eileen Cooper, born 15 years after Hockney, could also be considered for more affordable entry points.

Art is not regulated as an investment by the Financial Conduct Authority in the UK, meaning purchasers lack the protections offered by financial services if issues arise. Collectors should ensure artworks valued at £2,000 or more are individually named on household insurance policies.

When selling, auction houses typically charge a commission of around 15 percent. Capital gains tax may be liable on profits made, with rates at 18 percent for basic-rate taxpayers and 24 percent for higher or additional-rate taxpayers, applicable above a £3,000 gain.

Discovering Future Artists

Identifying emerging artists requires research and personal appreciation. Exploring trading galleries, online platforms like ArtFinder and Artsy, and events such as the Affordable Art Fair can reveal new talent. Visiting end-of-degree shows at art colleges, including Central Saint Martins and the Royal College of Art where Hockney studied, can offer opportunities to invest in artists at the beginning of their careers. While financial gains are not guaranteed, collecting art should primarily be driven by personal enjoyment.