Sale Ends

Most signed editions of this period run to 150. Sale Ends is reported at 500, which is more than three times the usual and changes how the print sits in the market.

A large signed edition means supply is steady: examples come up regularly, comparable results are plentiful, and no single sale moves the level much. That makes it one of the more predictable prints in the catalogue to value and to sell, and it also means an owner should not expect the scarcity premium that attaches to the 150-run images.

Sale Ends uses the same auction-room composition as Morons and is a later release, catalogued in its own right rather than as a variant.

Owners conflate the two constantly, and the confusion runs in both directions: a Morons described as a Sale Ends and the reverse. They have different editions, different years and different price levels. The pencil line and the image settle it, and it is the first thing to establish before looking at any comparable result.

Where supply is plentiful, buyers can afford to be selective, and condition is priced harder than it is on a scarce image.

A tired impression of a 500-run signed edition competes against many clean ones. Margins, fading, tape staining and trimming all matter more here in relative terms than they would on a print where the buyer has no alternative.