Kate Moss

This is the scarcest tier in the regular print output: editions of fifty per colourway rather than the 150 and 600 of the surrounding releases.

Because each colourway is its own small edition, the colour is not a cosmetic preference — it is the identification and most of the value. Two Kate Mosses can be a long way apart on price with nothing separating them in a photograph but the palette, and owners regularly describe what they have simply as a Kate Moss without naming the colourway, which makes a figure impossible to give.

The composition is Warhol's Marilyn with the face replaced, which places the print in a conversation about appropriation that the artist has returned to repeatedly.

Commercially it widens the audience: this image reaches buyers who collect Pop and portraiture as well as those who collect the artist, which is unusual in this catalogue and tends to support the price. Sets — several colourways held together — are scarcer again than individual sheets and should never be broken up before taking advice.

Artist's proofs and examples carrying more than one signature are recorded separately and sit above the standard fifty.

These are exactly the sheets that get undervalued when a work is assessed from an image of the picture. Read the pencil line, photograph it, and do not assume an annotation is a defect.