Andy Warhol's Moonwalk Prints: Colourway, Scarcity & Value
Moonwalk Suite © Andy Warhol 1987
Market Reports
Andy Warhol made Moonwalk in 1987 to mark the eighteenth anniversary of the Apollo 11 moon landing – one of the few times he turned his lens on a moment of collective human achievement rather than consumer culture.
The image is drawn from one of the most reproduced photographs of the 20th century: Buzz Aldrin on the lunar surface, photographed by Neil Armstrong on 20 July 1969. The result is two screenprints – one showing Buzz Aldrin in a vivid pink spacesuit against a deep teal lunar surface (F&S 405), one in yellow against a brighter, more graphic teal ground (F&S 404) – alongside a small number of unique trial proofs. As NASA's Artemis programme brings crewed lunar missions back into public consciousness for the first time in over fifty years, the cultural context that made these works resonant in 1987 is once again active.
The Moonwalk collection is defined by scarcity above all else. Across all formats, fewer than 30 sales have been recorded since 2017. That scarcity, combined with a clear colourway hierarchy and rising trial proof values, makes this one of the more structurally interesting markets in the Warhol print universe.
Key Market Statistics:
- £373k – auction record for the pink main edition (F&S 405), set in 2024
- 18% CAGR – pink main edition average annual growth rate from first recorded sale in 2009 to 2024 record
- Trial proofs on the rise – average hammer up 103% from 2017 to 2025
- £588k – highest recorded Moonwalk Suite result (Phillips, Oct 2024)
- 28 sales – total recorded across all Moonwalk formats since 2017
Andy Warhol Moonwalk Print Values, Pink vs Yellow: Which Edition Is Worth More?
The Moonwalk market operates across two colourways occupying distinct positions in the pricing hierarchy. The yellow edition (F&S 404) is the more liquid of the two – seven recorded sales since 2017, with an average hammer of £102,500 – providing a consistent and more accessible entry point into the series. The pink edition (F&S 405) is categorically different. With only three recorded sales since 2017, it is the scarcest format of the two, and its 2024 result of £372,814 (with fees) – a single sale, and the auction record for the edition – sits over three times above the yellow edition average.
The pink's 2024 record came after a three-year absence from the market –210% above its 2020 average hammer across two sales. The yellow edition has not appeared at auction since 2024.
Andy Warhol Moonwalk Trial Proof Prices: How the Pink Edition Compares
Trial proofs are where the Moonwalk market has shown its most dramatic upward movement. Results that were achieving £87,000–£116,000 between 2015 and 2019 are now regularly transacting above £200,000 – three trial proofs sold across Christie's and Phillips in October 2025 alone, achieving £385,596, £308,476, and £305,725 (with fees). Trial proofs exist in a range of colourways – the warmest, more saturated examples commanding the strongest prices, with the £385,596 record set by an orange-red spacesuit against a cool grey-pink lunar surface.
Against this backdrop, the pink main edition (F&S 405) 2024 record of £372,814 is not a result that sits below the trial proof market. It competes directly within it.
Andy Warhol Moonwalk Suite vs Individual Prints: What the Data Shows
The complete Moonwalk Suite – comprising both the pink and yellow editions – has averaged above £400,000 at auction since 2022. The suite commands a premium that reflects the combined cultural weight of both editions and the relative rarity of both appearing on the market simultaneously.
However, the gap between Moonwalk Suite and individual results is narrowing. The pink main edition has repeatedly exceeded the value achieved by a complete suite at Clars Auction Gallery in 2021. As the pink edition's standalone value continues to rise, the premium traditionally associated with the complete suite is being tested from below.
The table below illustrates how individual main edition pink results compare directly against complete suite prices.
Andy Warhol Moonwalk Pink Edition Auction Results vs Complete Suite
Andy Warhol Moonwalk Auction Results © MyArtBrokerAndy Warhol Moonwalk Prints: How Rare Are They?
Across all formats, the Moonwalk collection has never been high turnover – peak activity came in 2019 and 2020, with a combined 11 sales. No public sales were recorded in 2021 or 2022 across any format. The pink main edition (F&S 405) has appeared on the market only twice since 2020.
A pink Moonwalk print is coming to auction at Sotheby's in the coming weeks – the first major house offering of the series in the current cycle, and a signal that institutional appetite for these works remains active at the top end of the market.
Available Now
MyArtBroker currently has a rare example of the pink Moonwalk (F&S 405) available through private sale. Request an instant valuation or speak to a specialist.
Data & Sources
This report draws on MyArtBroker's proprietary print market database, which tracks more than 400 auction houses worldwide. All prices are reported in GBP at hammer unless otherwise stated. This report is intended for research and information purposes only. Analysis is based on data available at the time of writing and may be subject to change. MyArtBroker accepts no liability for any decisions made on the basis of this information.
