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The Investment Guide To David Hockney

Sheena Carrington
written by Sheena Carrington,
Last updated5 Feb 2025
David Hockney Print Market Investments - MyArtBroker 2024David Hockney Print Market Investments © MyArtBroker 2024
Jasper Tordoff

Jasper Tordoff

Specialist

[email protected]

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David Hockney

David Hockney

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David Hockney has spent his life pushing the limits of imagination, using masterful printmaking to capture fleeting moments and transform them into timeless works of art. Regardless of the subject, his pieces reflect keen observation and technical precision. His ongoing success in the art market highlights not only his artistic influence but also the strong investment potential of his prints.

In this investment report, we examine Hockney's print market performance spanning the past seven years. Leveraging auction and sales data from our dedicated database focused on prints and editions, our objective is to provide valuable insights to help you determine whether investing in Hockney is a wise decision for 2025.

David Hockney Print Market, 2018 - 2025

Is Buying A Hockney Print A Good Investment?

While Hockney has explored a wide range of mediums, he has often been considered, above all, a printmaker. His experimentation spans etching, lithography, photography, photocopy printing, collage, and, most recently, his highly sought-after iPad drawings. His prolific printmaking reflects the trajectory of his market, which remained steady at around £5 million in 2018 and 2019. Despite a temporary slowdown in 2020 due to the COVID-19 pandemic, Hockney's print market gained serious momentum in 2021, with both sales value and volume increasing, culminating in a record-breaking year in 2023. While 2024 saw a slight dip in performance, this likely reflects broader market conditions rather than declining interest, as collectors recognise the growing value of his work and may be holding onto pieces in anticipation of more favourable selling opportunities.

David Hockney Yearly Sales Value Changes

What Happened To Hockney's Print Market In 2024?

Hockney’s print market saw a sharp decline in both sales value and lots sold in 2024, dropping by more than half compared to the record-breaking highs of 2023. Across the broader market, it was an intriguing year for Hockney. Rare water-inspired canvases appeared in the March marquee sales, while the first half of the year saw fewer of his most coveted prints - such as the Lithographic Pools and Arrival of Spring series - offered at day and print sales.

Phillips held its third annual David Hockney dedicated sale, which was largely successful but marked the first time the event did not achieve a 100% sell-through rate. While records were set for rare complete print collections like Dog Wall and A Rake’s Progress, a large-scale, extremely limited Arrival of Spring edition of just 10 went unsold.

Rather than signalling a decline in value for these works, this is more reflective of the cautious sentiment that defined the 2024 market. Auction houses faced challenges not only in securing buyers but also in persuading sellers to consign and align expectations with lower estimates that better matched market conditions. Given this landscape, the unsold high-value pieces are hardly surprising.

With Hockney’s established market presence and long-term stability, the 2024 results are not necessarily seen as a correction, but rather as a reflection of collectors exercising caution when it comes to his most valuable works.

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David Hockney Average Selling Price, 2018 - 2025

Average Value Of Hockney Prints

The trajectory of Hockney’s print market has seen notable fluctuations, shaped by external economic factors and shifting collector sentiment. Between 2018 and 2019, average print values climbed steadily, suggesting consistent demand and a stable collector base. After a downturn in 2020, the market rebounded in 2021, with prices rising year after year as renewed confidence fuelled increased activity.While the market experienced a pandemic-induced slowdown, it was followed by three consecutive years of strong growth.

By 2023, Hockney’s print market had reached a high point, driven by strong auction results, heightened demand for blue chip artists, and a broader surge in print collecting. However, 2024 saw a market adjustment, with a noticeable decline from the previous year’s peak. Despite this dip, prices remain well above pre-pandemic levels, reflecting a more selective buying approach rather than a loss of confidence in Hockney’s work.

David Hockney Top Print Collections Sales Value 2024

Top Performing Print Collections In Hockney's 2024 Print Market

Hockney’s top-performing print series in 2024, based on sales value, highlights the continued appeal of his Arrival of Spring works, which collectively achieved over £1.2 million. Following closely behind was his Swimming Pools series, a category that includes various lithographic pool prints and other swimming-themed works, which remain highly sought after.

Another standout was Hockney’s Moving Focus series, a collection that gained significant traction throughout the year and was featured in our Collector’s Guide to the 2025 Print Market. As Hockney’s largest print series, Moving Focus offers a range of more accessible works, showcasing his digital printmaking techniques while providing collectors with a more affordable entry point into his market. Its increasing popularity reflects a growing demand for prints that balance artistic significance with a lower price threshold.

“Looking at the Yosemite Suite and The Arrival of Spring, these are works that you could have picked up directly from the publishers for around £27,000, and now, the market has gone crazy for them. It's amazing to see how upon release, the digital drawings didn't have such an impact on the market.”
Jasper Tordoff

David Hockney Top Print Collections Lots Sold 2024

When analysing Hockney’s market performance by lots sold, the impact of rarity and extremely limited availability becomes clear. While his Arrival of Spring prints ranked highest in terms of total sales value, they did not appear among the most frequently sold works. This suggests that these prints were rarely brought to market in 2024, again a cautious sentiment of collectors holding onto these works waiting for more favourable selling conditions.

The Swimming Pools collection, on the other hand, showed greater market activity, with 25 appearances in 2024, reflecting strong demand that aligns with market value. Meanwhile, Hockney’s The Blue Guitar and Illustrations for Brothers Grimm Fairy Tales - though lesser-known compared to his headline works - maintained steady popularity. These prints offer collectors more affordable entry points into Hockney’s market, highlighting one of its key strengths: accessibility across a broad range of price points, making his work appealing to a diverse audience of buyers.

“Hockney was doing lithographs in the early '50s and '60s. Then you come onto stronger works when he moved to California and developed different techniques. And then you come across the iPads. There are new works always being done.”
Jasper Tordoff

The Most In-Demand Hockney Prints Within Our Network

Within our private sales network, we continue to see consistent demand for Hockney’s Arrival of Spring series. Despite lower public auction performances in 2024, both in sales value and lots sold, the market value for these prints has already been firmly established in private sales. Depending on the specific print and colourway, prices typically range from £150,000 to £300,000, a range that provides a more accurate reflection of true market demand than auction results. Unlike the public auction setting, where sales are subject to external pressures and speculative bidding, private buyers show clear confidence in what they are willing to pay for the specific print they want - without the influence of the auction spectacle.

Hockney’s Swimming Pools collection is also in strong private demand. While these works appear frequently at auction, they exist in various colourways and printing techniques, making private sales a preferred method for collectors seeking specific variations. Our specialists have also noted a growing interest in Hockney’s still-life flower prints, which include coloured lithographs and digital iPad works.

Also seeing continued popularity in private sales is The Weather Series, an extraordinary collection produced on Japanese paper using a woodblock printing technique. Public auction demand for these works has also been notably strong, with particular interest in Snow, which set a new auction record at Phillips’ 2024 sale, far exceeding estimates at £50,800.

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Blue Chip Artist Sales Value (hammer)

Blue Chip Artist Sales Value (hammer) 2018 - 2025Blue Chip Artists Sales Value (hammer) © MyArtBroker

Blue Chip Artists Markets To Know

The market trajectory of the most in-demand blue chip artists - Andy Warhol, Banksy, Damien Hirst, David Hockney, Jean-Michel Basquiat, Keith Haring, and Roy Lichtenstein - highlights key shifts in collector demand and market performance over the past six years. While some artists have experienced sharp fluctuations, others have maintained steady growth, demonstrating resilience in an evolving art market.

Hockney’s print market has remained more stable compared to other artists who have shown speculative fluctuations. His sales steadily increased, nearly doubling in 2021 and 2022, reaching over £8 million and peaking in 2023. Hockney’s market remains anchored in institutional validation and collector demand for blue chip prints, suggesting that this decline is more reflective of broader macroeconomic trends rather than a loss of confidence in his work.

David Hockney Price Distribution Lots Sold 2024

Where to Start When Looking To Buy A Hockney Print?

Hockney’s 2024 print market reflects a strong collector base, with the majority of transactions occurring in the lower price brackets, while high-value works remained relatively scarce. With 191 total lots sold, 67% of prints were sold for £15,000 or below, reinforcing Hockney’s reputation as an artist whose market offers accessibility alongside prestige. This volume-driven segment reflects a broad collector interest, particularly in his more affordable lithographs and digital prints.

At the mid-tier level, 13% of prints sold between £15,00 - £30,000, and 9% between £30,000 - £50,000, indicating sustained demand for desirable series at a higher price point. These likely include sought-after editions iPad Drawings, Moving Focus, Celia Birtwell and other collections, which have steadily gained traction in the market.

However, at the upper end, only 6% of sales fell within the £50,000 - £90,000 range, and an even smaller 4% exceeded £90,000. These figures align with Hockney’s top-selling print series, including Arrival of Spring prints and complete sets like A Rake’s Progress and Dog Wall, which typically command premium prices.

“Hockney's work from the 1960s was a time when he was experimenting an awful lot with lithographs and etchings. I find these amazing. The attention to detail, and seeing the artworks in the flesh, allows you to observe where the plate has been pressed into the paper.”
Jasper Tordoff

Hockney Prints to Invest in Below £20,000

In 2024, the majority of Hockney’s print market was dominated by works priced below £20,000, offering a range of opportunities for collectors at various levels. Individual prints from large collections including A Rake’s Progress and Illustrations for Six Fairy Tales remain available within this price bracket, making them an accessible entry point for those looking to own a coveted Hockney print - especially given the significantly higher value of complete sets from these series. Additionally, certain prints from Dogs collection, one of Hockney’s earliest and most intimate series, can also be acquired within this range. With demand for complete sets continuing to grow, individual prints are likely to become increasingly sought after.

Another emerging trend is the growing availability of Hockney’s digital works and Moving Focus series prints at more affordable price points, with many selling around £20,000. This was further highlighted in Phillips’ First Editions sale in early 2025, where several Hockney works were offered. While high-value pieces found buyers, it was the lower-priced works - valued between £20,000 and £30,000 - that saw the most intense bidding activity, signalling strong collector interest in Hockney’s more accessible editions. Notably, Pushing Up from Some More New Prints sold for £15,000, well above its £7,000 high estimate, illustrating the increasing demand for affordable Hockney prints and the opportunities available for collectors looking to enter the market.

The Prints Most In Demand Hockney Prints From Investors

Hockney’s Swimming Pools series remains one of the most in-demand print collections among investors, largely due to its deep connection to the artist’s legacy. The pool motif is emblematic of Hockney’s formative years in Los Angeles during the 1960s, capturing both the light and movement that define his distinctive aesthetic.

Similarly, we expect Hockney’s Dog Etchings series to remain a strong draw for collectors. Featuring his beloved dachshunds, Stanley and Boodgie, these prints have broad appeal and are now even included in fractional ownership platforms like Timeless. As Anna Oreter highlighted in our OPEN EDITION live panel on Prints As An Asset Class, this further reinforces their enduring market value. The Dog Wall complete set came to auction twice in 2024, achieving £317,500 at Phillips and £203,332 at Sotheby’s in October - demonstrating both demand and price resilience across different sales channels.

However, the most sought-after series by investors remains The Arrival of Spring and Yosemite Suite. With only 25 prints in each edition, their scarcity has solidified their status as prime assets within Hockney’s print market. To date, no complete set from either series has surfaced at auction, but when one eventually does, or even just a large group of prints with matching edition numbers, it is expected to garner significant attention and set new record prices - further reinforcing their prestige as blue chip investment pieces.

“So much of the market is centred on Hockney's larger iPad drawings, but there’s significant growth potential in individual works from the 'overlooked' editions within complete sets that surface at auction.”
Helena Poole

Liquidity of Hockney’s Artwork

The liquidity of Hockney’s artwork remains relatively strong compared to broader market standards, but as with any asset, it varies depending on the timing of the sale, the specific work, and external market conditions. While blue chip artists typically hold value well, liquidity is not a constant - it fluctuates with demand, auction schedules, and collector sentiment. Certain highly sought-after works, like Arrival of Spring prints or Swimming Pool lithographs, tend to be easier to liquidate, especially when demand is high. However, high-value works can sometimes be the most difficult to secure a buyer.

Resale Analysis, Phillips David Hockney Sale 2024 © MyArtBrokerResale Analysis, Phillips David Hockney Sale 2024 © MyArtBroker

The Phillips auction in 2024 provided an interesting case study in liquidity in Hockney's market, demonstrating how varied perceptions of resale value influence market outcomes. Several works from the same edition appeared in the same sale but performed very differently based on their holding periods. For example, Celia with Chair was resold just one year after its previous auction appearance and achieved a significant increase in value, indicating strong demand and immediate liquidity for the work. In contrast, other Hockney prints that had been held for longer periods and came back to market in 2024 saw much smaller resale gains, reinforcing the idea that liquidity is not just about the artist’s name but also about timing, rarity, and collector sentiment at the moment of sale.

Additionally, seller circumstances play a crucial role - some consignors list works strategically to maximise returns, while others may need to sell quickly due to financial reasons, leading to lower realised prices. In today’s shifting market, collectors should remain aware that while Hockney’s name ensures long-term stability, short-term liquidity is highly dependent on broader economic conditions, buyer confidence, and auction cycle fluctuations.

David Hockney Lots Sold Location 2024

Recent Market Performance and Regional Trends

In 2024, the United Kingdom dominated Hockney’s print market, accounting for nearly half (48%) of total lots sold. This aligns with his strong collector base in the UK, where demand has historically remained steady due to his national significance and deep market roots. The United States followed with 34%, reflecting its position as a key player in the global art market and a major driver of blue chip print sales. While these two regions continue to account for the bulk of market activity, there are emerging opportunities elsewhere, particularly as collectors in new regions gain access to high-value works through online and private sales platforms through MyArtBroker's digital Trading Floor.

While Europe (11%) and Asia (6%) currently represent a smaller portion of the market, they present areas of potential expansion, especially as the UK continues to grapple with the after effects of Brexit and the US navigates a new presidential election. The “Other” category (2%) also highlights a growing international reach, suggesting that Hockney’s collector base is expanding beyond traditional Western, European, and Asian markets.

Where the Best Opportunities Lie

For buyers looking to enter Hockney’s market, the UK and US remain the most active regions, offering liquidity, consistent sales, and strong demand. This stability makes these regions ideal for both collectors seeking investment-grade works and those looking for more accessible entry points. However, as these markets remain highly competitive, savvy buyers may find emerging opportunities in Asia or the Middle East which has been a growing topic in art market circles.

The Role of Online and Private Sales in Expanding Hockney’s Global Market

One of the most significant factors shaping the global reach of Hockney’s print market is the increasing role of online and private sales platforms like MyArtBroker. As collectors become more comfortable buying digitally, the barriers of location are diminishing, allowing high-value works to reach new markets without traditional auction house constraints. Private sales also offer buyers and sellers more flexibility, particularly for rare works or complete sets that might not perform as well in auction but hold strong private market demand.Looking ahead, the biggest growth opportunities lie in leveraging digital platforms to expand collector engagement beyond the UK and US. With global access increasing and Hockney’s market proving resilient across multiple price tiers, the importance of strategic selling through private and online marketplaces will only continue to grow throughout 2025.

David Hockney's Top Selling Prints

1.

A Rake's Progress (complete set)

Hockney’s A Rake’s Progress (1961–1963), a series of 16 etchings that reinterprets William Hogarth’s 18th-century narrative through an autobiographical lens, saw a surge in market interest in 2023. A complete set sold at Christie’s in April for £435,482 (including fees), a staggering leap from its previous record of £15,625, making it Hockney’s highest-grossing print sale of the year. The momentum carried into 2024, with another set fetching £254,000 at Phillips’ David Hockney Only sale, reaffirming the enduring demand and increasing market value of this seminal series.

2.

The Arrival Of Spring In Woldgate East Yorkshire 2nd June 2011

Hockney's Arrival of Spring works were less frequently seen on the market in 2024, but this does not indicate a decline in value. Their market strength has been well established across both primary and secondary sales. Instead, the reduced availability suggests that collectors are holding onto these works, likely waiting for more favourable selling conditions.

Produced in editions of 25, with a few rarer editions of 10, The Arrival of Spring in Woldgate, East Yorkshire, 2nd June 2011 made a notable appearance at Phillips' June evening sale, achieving a strong result of £406,400, reinforcing the ongoing demand for this celebrated series.

3.

Dog Wall (complete set)

In January 2023, Hockney's Dog Wall (complete set) (1987) achieved £327,600 (including fees) at Phillips, making it his second-highest print sale of the year and setting a new auction record. The set reaffirmed its strong market appeal in 2024, selling for £317,500 at Phillips' dedicated David Hockney Only sale, further solidifying its position among his most valuable print works.

These results reflect a remarkable 3.6-fold increase in value over eight years since the set last appeared at auction in November 2015. The demand for complete print sets, particularly among American Pop artists, has intensified, often reaching price points comparable to original works. In Hockney’s case, the rarity of complete sets makes them especially sought-after, driving their sustained value growth.

4.

Caribbean Tea Time

Caribbean Tea Time (1987) is a notable piece from Hockney's Interiors and Exteriors series from the 1980s. What sets these works apart is the absence of a sitter; instead, the focus is on the intimate interplay between interior and exterior spaces. This particular artwork features vibrant colours in an abstract cubist format and is presented on a folding screen. Remarkably rare in the market, it resurfaced in May 2023, fetching £303,305 (with fees). In a previous sale in 2021, it sold for £94,302 (with fees), marking a significant increase of 3.2 times in value. With six appearances in the secondary market, each sale has demonstrated a consistent uptrend, showcasing the enduring strength and resilience of Hockney's market influence.

5.

The Arrival Of Spring In Woldgate East Yorkshire 6th May 2011

Another gem from Hockney's Digital Drawings collection, The Arrival Of Spring In Woldgate East Yorkshire 6th May 2011, is part of The Arrival of Spring series. Limited to editions of 25, these pieces have consistently grown in desirability and value over time. This specific artwork made headlines at Bonhams in April 2023, setting a record as the highest-selling piece from the series and securing a spot among Hockney's top print sellers for 2023. It fetched £277,200 (with fees), marking its second appearance on the secondary market and an impressive 2.79 times increase in sales value since its initial sale in 2018.

TO SEE THE FULL LIST OF HOCKNEY'S MOST INVESTABLE PRINT WORKS READ OUR MARKET WATCH REPORT.

Jasper Tordoff

Jasper Tordoff

Specialist

[email protected]

Interested in buying or selling
David Hockney?

Browse artworks
David Hockney

David Hockney

654 works