Will figurative art increase in value—and how did Gerhard Richter transition from figurative realism to abstract art?

Edition size determines long-term value

Figurative prints retain or increase in value when their edition size is strictly controlled. A signed, numbered lithograph by David Hockney from an edition of 50 (e.g., Celestial Blonde, 1976) will command $8,000–$15,000 at auction, while an open-edition offset print of the same image may sell for under $1,000. The Fine Art Trade Guild defines a limited edition as 850 or fewer impressions; beyond this, the work is considered a reproduction, not a collectible.

Gerhard Richter’s early figurative works, such as Ema (Nude on a Staircase) (1966), were produced in small editions (typically 10–30) and now trade for $20,000–$50,000. His transition to abstraction in the 1970s did not diminish the value of these pieces—it contextualized them as foundational. Richter’s deliberate destruction of his printing plates after pulling the final impression ensures no posthumous inflation of supply.

Provenance and documentation override style

A figurative print with a verifiable chain of ownership will outperform an undocumented abstract work by the same artist. Sotheby’s Prints department reports that works accompanied by a certificate of authenticity from the artist’s estate or publisher sell for 30–40% more than those without. For example, Pablo Picasso’s Le Repas Frugal (1904, edition of 250) realizes $40,000–$70,000 when documented by the Marina Picasso Estate; unsigned examples fetch half as much.

Richter’s shift from photorealism to abstraction (marked by his 1976 Abstract Painting series) did not erase the market for his figurative works—it created a bifurcation. His 1960s photo-paintings now serve as a bridge for collectors transitioning from representational to non-objective art, sustaining demand in both categories.

Condition and presentation affect resale

A figurative print in pristine condition, framed with UV-protective glazing (e.g., 99% UV-blocking acrylic) and acid-free conservation matting (4-ply, 100% cotton rag), retains 90–95% of its value over 20 years. Exposure to direct sunlight or non-archival materials (e.g., lignin-based backer boards) reduces this to 50% within a decade. The Metropolitan Museum of Art’s conservation guidelines specify that works on paper should be stored at 50–60% relative humidity to prevent foxing or cockling.

Standard framing dimensions for collectible prints include 50x70 cm (20x28 in) and 70x100 cm (28x40 in), with a hanging center height of 145–150 cm (57–60 in) adhering to the two-thirds rule above furniture. Framing costs for archival treatment range from $800–$2,500, depending on glazing type (museum glass vs. standard acrylic) and mat width (typically 5–8 cm).

Historical significance outweighs trend cycles

Figurative art tied to a definable movement (e.g., German Expressionism, Pop Art) appreciates independently of contemporary taste. Christie’s Prints & Multiples data shows that Erich Heckel’s Fränzi Reclining (1910, woodcut, edition of ~30) has increased from $12,000 in 2000 to $80,000–$120,000 in 2023, despite abstract art dominating auction headlines. The work’s association with Die Brücke and its scarcity drive value, not its figurative subject.

Richter’s figurative phase (1962–1976) gained retrospective importance as his abstract works achieved record prices. His Betty (1988, oil on canvas) sold for $46.3 million in 2021, indirectly lifting the profile of his earlier prints. Artsy’s Art Market report notes that artists with a clear evolutionary arc—figuration to abstraction, or vice versa—see their entire oeuvre reassessed upward when one phase peaks.

How to mitigate the risk of overpaying

The underlying concern—purchasing a figurative print that later proves valueless—is addressed by three criteria:

• Edition number. Acquire prints numbered below 100, ideally below 50. Richter’s Sailors (1966, edition of 25) trades for $30,000–$45,000; his Cityscape Madrid (1968, edition of 200) trades for $8,000–$12,000.
• Publisher reputation. Prints issued by historic workshops (e.g., Atelier Mourlot for Picasso, Gemini G.E.L. for Jasper Johns) hold value better than those from ephemeral studios. The workshop’s blindstamp or chop mark should appear on the print.
• Secondary market liquidity. Search the artist’s name on Artsy or Sotheby’s Prints archives. If fewer than five examples have sold at auction in the past decade, the edition is likely illiquid.