The Investment Guide To Keith Haring

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Rebecca Marsham

Rebecca Marsham, Sales Director[email protected]

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Keith Haring delivered an impressive print market performance at the conclusion of 2023 that underscored his enduring magnetism among a broad range of collectors, from devoted enthusiasts to fresh faces in the field. Haring's extensive print market, marked by its distinctive qualities and compelling visuals infused with potent messages of activism and liberty, firmly solidified his esteemed position in art history. His performance in the print market throughout 2023 exhibited resilience, especially with trending series like Pop Shop works, Growing series, and Andy Mouse series, firmly establishing Haring as one of the most enticing blue chip artists for potential investors.

In this investment report, we examine Haring'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 Haring is a wise decision for 2024.

Keith Haring Seven Year Print Market Performance

Haring Sales Value And Lots Sold 2017 - 2023 by MyArtBroker 2024Haring Sales Value And Lots Sold 2017 - 2023 © MyArtBroker 2024

Is Buying A Haring Print A Good Investment?

When assessing Haring's print market performance over the past seven years, fluctuations have primarily been observed in sales values, while the number of lots sold has shown relatively consistent upward trends from 2020 to 2023. In 2017, the sale of Untitled (1982), a a large-scale canvas featuring Haring's most iconic symbols—a radiant baby, flanked by two barking dogs and angels above—set an auction record that remains unchallenged, fetching $6.5 million (USD) with fees.

As breakthrough sales in the broader art market frequently impact the print market, Haring's print market experienced a surge in sales value in 2018, increasing by 137% to £2.5 million (hammer), despite the same number of lots sold as the previous year. This consistent performance in lots sold is noteworthy, as it indicates an increase in the value of Haring's prints.

However, in the following two years, Haring's print market faced year-on-year (YoY) contractions in sales value, possibly due to lockdown restrictions and the challenges posed by the COVID-19 pandemic. This downturn however was short-lived, as 2021 marked a resurgence in Haring's print market, with an 86% increase in value and an 18% rise in lots sold, setting new record highs for these performances. This positive momentum carried into 2022, with further increases culminating in a record high sales value of £4.2 million and 119 lots sold.

“There is nothing negative about a baby, ever.”
Keith Haring

Haring 2023 Print Market Performance

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What Happened In Haring's Print Market Performance In 2023?

Haring's 2023 print market exhibited a marginal decline in sales value, decreasing by -3% compared to the previous year, amounting to £4.1 million (hammer). Nevertheless, despite this slight market contraction, the fervour and demand for Haring's print pieces remained robust, as evidenced by the record-breaking number of lots sold over the past seven years – totalling 125. At the end of 2023 2023, the average selling price (ASP) for an individual Haring print stood at £32,882, showcasing its value and investment potential in the art market.

Haring Average Selling Price

Haring Average Selling Price 2017 - 2023 © MyArtBroker 2024Haring Average Selling Price 2017 - 2023 © MyArtBroker 2024

The ASP of an artist's market is typically influenced by the number of lots sold, which is often driven by supply and demand dynamics. However, it's not always the case that an increase in the number of lots sold will lead to a decrease in ASP. The correlation between these factors varies depending on elements such as artwork desirability, rarity, and overall market trends.

For instance, Haring's print market in 2017 and 2018 both saw the same number of lots sold, 91. Although in 2018, there was an increase in Haring's sales value, resulting in a 137% boost in ASP, indicating a rise in demand and value for individual Haring print works.

In contrast, in 2019, despite an increase in the number of lots sold to 109, which was 20% higher than the previous two years, the ASP of Haring’s print market declined by -24%. This decline didn’t necessarily signify a decrease in the value of works but rather reflected shifting market dynamics.

Similarly, in 2020, with 97 lots sold, the ASP declined by a further -26%, potentially influenced by disruptions caused by the pandemic. However, in 2021 and 2022, there was a significant increase in ASP by 57% and 30%, respectively. Despite global challenges in the art market in 2023, the prints and editions sector thrived, showing a 14% increase overall. Haring's market contributed to this growth, with only a minor -8% decrease in ASP, mainly due to a 5% rise in lots sold.

Haring Most Popular Print Series

Haring Trending Print Series: Sales Value x Lots Sold In 2023 - MyArtBroker 2024Haring Trending Print Series: Sales Value x Lots Sold In 2023 © MyArtBroker 2024

Top Performing Print Series In Haring's 2023 Print Market

Haring's Pop Shop series garners attention for its consistent performance, excelling in both sales value and the number of lots sold. This series showcased robust demand in the 2023 print market, as detailed in our comprehensive Art Investment Report. Comprising 24 signed and unsigned works, the Pop Shop series stands as one of Haring's most extensive print collections, with its inception inspiring the opening of the iconic Pop Shop in New York, extending his street art ethos to a wider audience. Complete sets of this series are highly coveted, commanding significant sales value, while individual prints also enjoy popularity.

Haring's Growing series, characterised by interconnected growing figures, follows a similar trajectory. With seven works in its repertoire, these prints, available in regular editioned prints and Trial Proofs (TP), sold favourably at auctions throughout 2023, fetching competitive prices and often surpassing the sales figures of individual Pop Shop works. This underscores the series' value, as evidenced by its strong performance in both sales value and lots sold. We anticipate the sustained prominence of Haring's Growing series in 2024.

Haring’s Flowers series holds a prominent position in terms of sales value but comparatively lower in lots sold, indicating the rarity of these prints within the market. For those considering investment in Haring's Flowers series, private sales platforms such as MyArtBroker may present a more appealing avenue, given our extensive network of collectors that enhances the likelihood of finding desired pieces. Other works from series including Free South Africa and The Story of Red and Blue, entering the market in higher volume, achieved lower sales values, providing more accessible opportunities for collectors seeking to acquire Haring's works.

Buying With MyArtBroker's Live Trading Floor

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The Most In-Demand Haring Prints Within Our Network

Haring's success in public auction sales mirrors the demand observed on MyArtBroker's live trading floor. While an array of Pop Shop works attract interest, two identical prints from Pop Shop I stand out prominently. Pop Shop I, Plate III, introduced in 1987 with a limited edition of 200, holds significant appeal. Three years later, Haring created Best Buddies (1990), also limited to an edition of 200, as part of a charitable initiative for the Best Buddies organisation, founded by Antony Shriver, President Kennedy's nephew. Originally conceived as a philanthropic project, it was later adapted into a limited edition print series to further support the cause. Both pieces are esteemed for their philanthropic nature and iconic status within Haring's Pop Shop collection.

Prints from the Growing series are highly favoured on our platform. For collectors seeking more budget-friendly options, prints from the Bayer Suite are available. Valued at £10,000 to £16,000 for the complete set through MyArtBroker's cutting-edge marketplace technology, individual prints are priced between £1,000 to £3,000. The Bayer Suite prints earned their acclaim within Haring's trending series based on the number of lots sold in 2023.

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Comparative Blue Chip Market Performance 2017 - 2023

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Seven Blue Chip Artists Markets To Know

Haring's ASP continues to exhibit remarkable strength, maintaining consistently elevated levels despite YoY increases in the number of lots sold. This trend underscores the value and demand for Haring prints, even amidst heightened market activity and greater availability. Such stability not only mitigates investment risk but also reflects an overall appreciation in the worth of Haring's prints. In 2022, the ASP for Haring's print market soared to an unprecedented high of £36,000, maintaining robustness at £33,000 in 2023.

Over these two years, Haring's ASP surpassed that of Roy Lichtenstein, aligning with a similar trajectory seen in David Hockney’s print market performance, which experienced YoY growth from 2020 to 2022 and only a slight deviation in 2023, potentially due to increased lot sales for both of these artists.

In 2023, Haring’s ASP remained competitive with Banksy's ASP, despite Banksy having a lower volume of lots sold. While Haring's ASP may not reach the heights observed in Andy Warhol's or Jean-Michel Basquiat's markets, it's important to recognise that Warhol's performance was marked by multimillion-dollar sales of complete sets, and Basquiat's market was characterised by lower sales volume and heightened scarcity surrounding his works.

For further in-depth market insights on blue chip artists read our 2024 Investment Guides for: Lichtenstein, Hockney, Banksy, Warhol and Basquiat.

Haring Print Market Price Distribution

Haring Price Distribution By Lots Sold by MyArtBroker 2024Haring Price Distribution By Lots Sold © MyArtBroker 2024

Where To Start When Looking To Buy A Haring Print?

Haring's most valuable prints command prices exceeding £100,000, representing a niche segment within his market, accounting for just 5% of lots sold in 2023. These prints, often referred to as Haring's trophy works, predominantly consist of complete sets from iconic series like Andy Mouse, Flowers, and Pop Shop. Additionally, select individual prints from Andy Mouse also fall into this prestigious category, underscoring their desirability among collectors.

Prints priced between £50,000 and £100,000 constitute a slightly larger portion of Haring's market share, comprising nearly 10%. Within this range, individual prints from the Growing series hold notable value, surpassing even some of the revered Pop Shop works. Other notable pieces in this price bracket include rare-to-the-market Pyramids prints and Haring's Dog prints.

Moving down the price scale, prints priced from £20,000 to £50,000 account for 27% of Haring's print market. Here, collectors can find sought-after individual prints from the Pop Shop series, as well as select works from the Growing series. However, accurately assessing the value of these coveted pieces requires a nuanced understanding of market conditions. For expert guidance and transparent insights, consulting with advisors like MyArtBroker is highly recommended over traditional auction houses.

Discover the value of Haring prints on the MAB100 Print Market Index.

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Ten Most Affordable Haring Prints In 2023 by MyArtBroker 2024Ten Most Affordable Haring Prints In 2023 © MyArtBroker 2024

Haring Print Works Below £20,000

The largest segment of Haring's print market encompasses pieces priced below £20,000, constituting 59% of the market share in 2023. Within this range, notable works include prints from the Free South Africa, Fertility Suite, and select Pop Shop collections. However, the value of Pop Shop prints is heavily influenced by factors like colour preference and depicted characters, along with understanding market conditions for fair valuation. Additionally, prints from the Icons series, with the Radiant Baby being particularly prized in 2023, hold significance in Haring's portfolio. While relatively scarce in the 2023 market, their potential resurgence in 2024 may increase their value due to rarity.

Within this price range, collectors can also find pieces from the Apocalypse series, some of which are priced up to £20,000. This collaborative series between Haring and William S. Burroughs deviates slightly from Haring's signature style, presenting an enticing opportunity for collectors to acquire Haring prints and diversify their portfolios, particularly considering zx prevalence in the market.

On the other hand, prints from the Bayer Suite and Chocolate Buddha series embody Haring's renowned continuous black line aesthetic and feature dancing interconnected characters. These prints were available for purchase for under £10,000 in 2023. Additionally, prints priced at £5,000 and below include those from The Valley and The Story of Red and Blue series.


Haring Top Ten Selling Print Works In 2023 by MyArtBroker 2024Haring Top Ten Selling Print Works In 2023 © MyArtBroker 2024

The Most In-Demand Haring Prints From Investors

New Records For Haring Prints

In 2023, Haring's print market witnessed remarkable demand for complete sets, with three of them achieving record-breaking sales: Andy Mouse, reaching £990,387; Flowers, selling for £173,534; and Pop Shop Quad I, fetching £146,144. Andy Mouse 1 also set a new record as an individual print, selling for £208,955.

The Andy Mouse series garnered significant attention due to its scarcity in the market. Notably absent in 2023 was Andy Mouse 3. Given the success of individual prints from this series, the potential appearance of Andy Mouse 3 in 2024 could generate substantial excitement and demand, potentially surpassing £200,000 in value.

Haring Art Investment Opportunities to Watch in 2024

As we anticipate the art investment landscape in 2024, there are several works that we anticipate to capture the attention of investors. Individual prints from the Flowers series, complete sets from the Pop Shop series, and a complete set of Icons present compelling opportunities. Particularly noteworthy is the absence of the complete Icons set in 2023, hinting at potential value growth if reintroduced to the market. Additionally, the return of a complete set of Growing works, unseen since 2021, could lead to substantial price appreciation, especially given the abundance of TPs from this series in early 2023.

Another highlight to watch for in 2024 is a complete set of the Fertility Suite. While individual pieces from this series command prices ranging from £30,000 to £60,000, the complete set, comprising five works, has not been available since 2019 when it fetched over £175,000 with fees. The reintroduction of this set would likely spark significant interest among investors and undoubtedly sell for over £200,000 if in pristine conditions.

Listen to MyArtBroker's, A Buyer's Guide To Keith Haring

Liquidity In Haring's Print Market

In the realm of art investment, liquidity hinges on the ability to promptly place a work on the market and achieve a profitable sale. In this aspect, Haring emerges as a prime example of artistic liquidity, owing to the universal appeal of his visual language, themes, and accessibility. Beyond their aesthetic charm, Haring's artworks convey potent messages of activism, advocate for art accessibility, and address pressing social issues like the AIDS pandemic, resonating deeply across diverse demographics and cultural landscapes. While certain pieces from his collection enjoy heightened liquidity due to their widespread acclaim, even his more budget-friendly artworks offer substantial liquidity, driven by robust market engagement, presenting appealing opportunities for savvy collectors.

Listen to MyArtBroker Talks podcast, From T-Shirts To Skateboards: The Growing Demand For Pop Art Merchandise

Moreover, Haring's Pop Shop played a pivotal role in bolstering the liquidity of his art. Through this innovative concept, he offered affordable merchandise featuring his iconic artwork, spanning from t-shirts to posters and other items. By establishing the Pop Shop, Haring democratised art consumption, making his work accessible to a broader audience beyond traditional art collectors. This initiative not only amplified the visibility of his art but also expanded his customer base, attracting individuals who may not have previously engaged with contemporary art.

“The art is still great, that doesn't change whether it is reproduced on a commercial product or not. The art itself remains great, and that's what fuels commercial products.”
Richard Polsky
Haring Lots Sold By Location In 2023 by MyArtBroker 2024Haring Lots Sold By Location In 2023 © MyArtBroker 2024

Recent Market Performance and Current Opportunities

In 2023, Haring's print market displayed a distinct geographic spread, with the United States leading the charge, claiming 53% of his market share in terms of lots sold. This dominance in the U.S. market stems from Haring's status as an American artist, elevating recognition and demand within his homeland. Additionally, the premiere of the exhibition Keith Haring: Art Is For Everybody at The Broad in Los Angeles in 2023, marking his first museum showcase in the city, likely drew significant attention and bolstered the strong presence of Haring's prints in the U.S. market. This underscores the importance of monitoring exhibitions as potential indicators for advantageous opportunities in art investment.

The United Kingdom held a smaller share, representing 27% of Haring's print market in 2023. This relatively modest presence may be attributed to the overshadowing dominance of the U.S. market during that period. Brexit considerations and potential acquisition challenges in the U.K. might have also influenced this trend when Haring’s market share is spread out so diversely among other countries. Nonetheless, the U.K. remains a vital art market hub, and Haring's foothold in this market is anticipated to remain robust.

Haring's print market also extended to the asian market in 2023 creating further market opportunities for buying and selling Haring prints, likely fuelled by the selling exhibition at Sotheby’s South Korea, Love In Paradise: Banksy and Keith Haring. This broader presence across different European nations contributes to the liquidity of his print market and current market opportunities.

What Makes a Haring Print Desirable?

A Haring print is highly coveted for numerous compelling reasons. Beyond its visual appeal, Haring's art conveys messages of activism, freedom, and inclusivity, resonating across generations. With bold lines and vibrant colours, his imagery holds universal appeal and immediate recognition. These prints symbolise cultural significance and offer strong investment potential, evidenced by their consistent growth and resilience in the market. Whether attracted to affordable options or seeking rare pieces, Haring's prints provide diverse investment opportunities, encapsulating art, activism, and cultural relevance in a single package. This makes them appealing to both art enthusiasts and investors.

Keith Haring Top Selling Prints

1.

In his 1986 series, Haring playfully honours Pop Art legend Andy Warhol, portraying him in Mickey Mouse shorts and ears. Deeply influenced by Warhol, Haring credited him with enabling his artistic journey. This vibrant tribute exhibits Haring's mastery of screenprinting, utilising seven colours and limited to 30 editions. The Andy Mouse series is a coveted masterpiece, embodying the essence of Pop Art and Haring's skill. While complete sets are rare, recent trends, as outlined in our Five-Year Print report, indicate a rising demand. A full set fetched a record breaking £990,387 (with fees) in the September evening sales, showcasing its enduring value despite economic challenges. This work has consistently appreciated in value, with an average selling price (ASP) of £669,353 (with fees) across six sales, contributing to its current market cap of £20 million.

2.

Andy Mouse 4

In Haring's Andy Mouse series, Andy Mouse 4 (1986) stands out. This vibrant screenprint portrays Andy Warhol with Mickey Mouse ears and shorts against a striking orange backdrop. While Warhol often depicted his friends and celebrities, Haring's unique portrait of Warhol captivates, as he creatively reverses Warhol's signature portrait technique. Exceptionally rare, this artwork fetched £226,800 (with fees) as a Printer's Proof in its solo appearance in March 2023. Having appeared six times in the secondary market, its current ASP is £157,376.

3.

Andy Mouse 1

Haring's first print from the Andy Mouse series, titled Andy Mouse 1 (1986), captures his contemporary, Andy Warhol, in a playful manner. Warhol, sporting spiky grey hair, retro shades, and orange Mickey Mouse shorts and ears, confidently stands with a pile of $0 bills around him. This charming cartoon character meets the viewer's gaze, embodying the essence of Warhol's relationship with art and consumerism. This specific work is exceptionally rare in the market and has firmly established itself among Haring's top-selling prints in 2023. Recently, it made a significant impact at a Japan auction house, selling for £106,821 (with fees) for a special editioned Hors Commerce. Special editioned prints have been trending in the American Pop market this year. This recent sale marked the print's return to the secondary market since 2016 when it fetched a slightly lower price of £104,500 (with fees) at Christie's.

4.

Andy Mouse 2

Additionally, within the sought-after Andy Mouse series, Andy Mouse 2 (1986) continues to affirm its demand and value this year. In this artwork, Warhol is portrayed as a Mickey Mouse caricature, enjoying a lively rave scene surrounded by Haring's distinctive gender-neutral characters. With Warhol sporting spiky pink hair against a vibrant green background, the piece exudes a playful and irresistibly appealing vibe. Notably, this work was recently sold at Sotheby's in October 2023, achieving a price of £187,999 (with fees), securing its position as the third-highest selling print among Haring's collection for 2023.

5.

Flowers (complete set)

Haring's Flowers series, a collection of five vibrant and surreal prints, was created shortly before his tragic passing in 1990. Featuring phallic plants, these prints serve as a powerful symbol of the gay community's fight against AIDS and societal misconceptions. The interwoven shapes exude energy and a sense of collective resistance. Haring's late career was deeply influenced by the HIV/AIDS epidemic, which he ingeniously portrayed in this expressive series, showcasing his brilliance in depicting societal and personal struggles through vibrant colours and cheerful imagery, encapsulating his entire artistic oeuvre. This highly coveted set, even rarer than his previous Andy Mouse series, achieved a remarkable £173,534 (with fees) in April, making its first appearance since 2021 and setting a new auction record. With 12 successful sales, it stands out as one of Haring's top-selling prints of 2023, appreciating in sales value YoY.

READ THE FULL MARKET WATCH REPORT OF KEITH HARING'S MOST INVESTABLE PRINTS

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