• DAVID HOCKNEY

  • Hockney iPad Market Report, How much are iPad drawings worth in 2024?

    Hockney iPad Market Report

    How much are iPad drawings worth in 2024?

    Upon the initial release of the David Hockney iPad series, collectors were sceptical of this new medium and they did not sell out immediately. We entered the market in 2014, as we began buying Arrival of Spring in Woldgate works for roughly £19,000 primary. Our early collectors purchased them because they loved Hockney as well as the works themselves. During the following years, the market began to rise and build momentum. This culminated in Phillips London selling a single Arrival of Spring for £340,200 in Sept 2022. More recent primary market releases have sold out in a frenzy, with investment playing an increasing motivator. The iPad works have come to define Hockney’s late career and capture the digital revolution of our time within the history of art. For these reasons, we have chosen to specialise in his iPad works, with the belief this will be a successful market to operate in for many decades to come.

     
    By Jacob Harmer
    Published 29th August 2024
    Enquire

  • "The Arrival of Spring in woldgate series has emerged as the big winner out of all of the hockney ipad series, followed by the yosemite series"

    After the Phillips £340k auction record, owners who had bought the works primary decided to cash in. The 2023 year kicked off with Phillips selling 5 Arrival of Spring works in a single sale. This was a huge amount of similar work to sell in one auction for any artist, but all the lots successfully sold at varying prices. This onslaught of Arrival of Spring supply continued throughout the year with total auction sales more than tripling with a total of 22 in 2023 (100% successful sale rate). Towards the end of the year, average prices dipped which resulted in a contraction in auction supply this year. We started 2024 with strong private sales of iPads and this has continued throughout. Average prices of Arrival of Springs have since rebounded. Other iPad series total auction revenue was down for 2023, mainly because of a reduction in works sold rather than decreasing prices. Global events (war, inflation, interest rates) have had a significant impact on the art market. Despite challenging conditions, the iPad market has proven itself both resilient and robust.

  • 2024: AUCTION MARKET HIGHLIGHTS

  • 2022: HIGH IMPACT MARKET EVENTS

    TO UNDERSTAND THE MARKET THIS YEAR YOU HAVE TO LOOK BACK AT KEY EVENTS OF 2022
  • PHILLIPS SET AUCTION RECORD, September 2022: Arrival of Spring Series

    PHILLIPS SET AUCTION RECORD

    September 2022: Arrival of Spring Series

    In April 2021, the Arrival of Spring market began to heat up when a work sold for $241,464. This was significant but did not attract huge new supply onto the market the following year. In May 2022, this record was beaten when another sold for $277,200, yet supply remained tight. Then in September 2022, Phillips  eclipsed all previous records when in a single sale they sold Arrival of Spring 19th Feb for £315,000 and Arrival of Spring 30 May for £340,200.  

     

    The £340k GBP auction result had a dramatic knock-on effect. Owners who had previously been reluctant to sell suddenly became motivated when they believed they could cash-in on a similar price. This resulted in a dramatic increase in supply of Arrival of Springs on the market. As the auction market had delivered such a strong result, sellers confidence was very high in this channel of sale which reduced the amount of business done through the private market.

     
  • NEW IPAD SERIES RELEASE, October 2022: 20 Flowers & Some Bigger Pictures

    NEW IPAD SERIES RELEASE

    October 2022: 20 Flowers & Some Bigger Pictures

    Hot in the wake of the Phillips Sept 2022 auction results, simultaniously all of David Hockney’s primary market dealers released a new series of works titled ‘20 Flowers and Some Bigger Pictures’. The majority of the series consisted of 20 still life paintings each with an edition size of 50 and initially priced at $50,000 each . The larger works were of varying scenes, sizes, edition sizes and prices. 

     

    The release was kept secret until the day. When the primary dealers began offering the works to clients, news flew around the market and the majority of the series sold-out within a matter of hours. We believe this is down to the fact that by this point, the iPads had already proven themself to be a huge success. The majority of the owners of the series that we spoke to, purchased the works for investment, unlike Arrival of Spring owners who generally bought for the love of the art. The still life flowers quickly began appearing on the secondary market.

     

  • 2023: A CHALLENGING YEAR
  • 2023: MACRO FACTORS

    2023: MACRO FACTORS

    High Inflation: Inflation remained prevalent through out 2023 which at the start of the year stimulated some demand as collectors looked to hedge their cash against inflation. 
     
    Rising Interest Rates: During the year, interest rates rose which dampened the demand from collectors looking to hedge against inflation. 
     
    Art Market Shift: The Covid years attracted highly investment motivated clients to the art market as prices rallied with the influx of cash into the global economy. As the rapid price increases dropped off, investment buyers dropped out of the market. We saw a change in active buyers motivations, from short term investments back to collectors wanting to buy works with a longer term horizon, and generally wanting to live with the works in their homes. 
     
    Global Uncertainty:  War in Ukraine, a faltering US economy, Israel-Palestine conflict and concern over China all created global uncertainty and nervousness.
  • Small Drop in Market Size, Significantly Less than Overall Market Contraction

    Small Drop in Market Size

    Significantly Less than Overall Market Contraction
    2023 was generally a tough year for the entire art market with UBS reporting a 7% drop in global auction sales. The Hockney iPad market saw a contraction relative to 2022, but it should be kept in mind that this was an all-time record year by revenue. With the exception of the Arrival of Spring series, this drop in total auction revenue was the result of far fewer digital works coming to sale, as opposed to a drop in prices. The year proved to be a record year for the Arrival of Spring series which carried Hockney's digital market from the start until the end of the 2023 periood. 
  • Arrival of Spring Series Dominated at Auction

    Arrival of Spring Series Dominated at Auction

    In 2023, 60% of Hockney's digital series auction revenue came from the sale of Arrival of Spring in Woldgate works. Total sales of regular sized Arrival of Spring artworks increased from 6 totalling $1,394,543 auction revenue in 2022 up to 22 works sold with $3,424,370 revenue in 2023. The Yosemite market, which has historically been one of our strongest private selling market, remained concistent with total auction revenue being between $491,360 - $530,836 during the last 3-year. The 'A Bigger Book' iPad works saw a big drop in auction revenue from 28 works sold totalling $1,201,669 in 2022 down to 16 in 2023, totaling $448,516. Average prices of A Bigger Book iPads at auction saw a drop from $42,917 in 2022 down to $28,032 in 2023. 

  • ARRIVAL OF SPRING IN WOLDGATE

    Created 2011 in East Yorkshire, RELEASED PRIMARY IN 2014
  • The Most Successful of Hockney's Digital Series, Why have the Arrival of Springs been so successful?

    The Most Successful of Hockney's Digital Series

    Why have the Arrival of Springs been so successful?
    Out of all of the digital series, the Arrival of Spring in Woldgate series have proven to be the most successful of the editions. This is down to the following factors:
     
    • Sticky Supply: owners who bought the works primary were typically not motivated by investment and it's very hard to convince them to sell as they love the works. Collectors who bought them secondary, have paid higher prices and they do not want to sell for less then they paid. 
    • Artwork Size: the works are large enough to look impressive but small enough to fit in pretty much any house or appartment. This keeps the perspective market size towards it's maximum. 
    • Quantity of Work: there are 49 regular size (55" x 41.5") editions with 25 works per edition e.g. 1,225 works. The relatively large body of work, combined with sticky supply, means there is a constant trickle of sales action which creates news and market momentum. 
  • 2023: SUPPLY SIDE SHOCK, In Response to Sept 2022 Phillips Auction Record

    2023: SUPPLY SIDE SHOCK

    In Response to Sept 2022 Phillips Auction Record
    Historically, supply of Arrival of Springs  has remained restricted, typically with only 4-7 works coming to auction each year. Despite prices rising over the years, owners who bought primary at roughly £19k upon their release in 2014, have appreciated the increase in prices but  remained reluctant to sell as they like the work so much. Love can only take you so far and after the Phillips Sept 2022 £340k auction record, owners decided to try to cash in. The result being a huge increase in works sold at auction, from 7 the previous year up to 22 in 2023. 
  • Market Absorbs Supply Shock, Record Year of Auction Sales, 2023: 34% Increase in Total Sales

    Market Absorbs Supply Shock, Record Year of Auction Sales

    2023: 34% Increase in Total Sales
    The year started with Phillips London selling 5 Arrival of Springs in a single sale. All of the works sold but each price became lower throughout the sale as one bidder succeeded and likely dropped out of the next round of bidding for the subsequent lot. 
     
    Despite the monumental increase in supply at auction, 100% of the 22 Arrival of Spring's which went to auction in 2023, successfully sold. This standing testiment to the strength of the market for the series. 
  • Prices Rebound as Auction Supply Contracts, Every Auction in 2024 Exceeds Last Year's Average

    Prices Rebound as Auction Supply Contracts

    Every Auction in 2024 Exceeds Last Year's Average
    During 2023, there was huge variance in sale prices at auction ranging from £70,250 up to £277,500. The market did well to find buyers at high prices  in the face of the dramatic increase in supply. By the end of 2023, it had become clear to owners that achieving £200k+ sale prices at auction was far from guarenteed. Given they had to contractually agree to the auction houses selling at the reserve price which was usually in the £70k - £100k region, selling via auction started to look like a risky bet by the close of 2023. 
     
    So far in 2024, auction house supply seems to have returned to it's historical pre-2023 average. In the private market we have seen a significant increase in sales as clients avoid auction. Sale prices in both the auction and private market have increased this year. In the private market, owners have returned to being relecutant to sell, with numerous owners turning down offers from us £250k+ and associates reporting private sales in this region.

  • 2023: Top 3 Auction Results

  • 2023: Lowest 3 Auction Results

  • Other Digital Editions
  • COMPUTER DRAWINGS (2008), The Precursor to the iPad Drawings

    COMPUTER DRAWINGS (2008)

    The Precursor to the iPad Drawings
    The 2008 Computer Drawing series has had mixed success over the years. The series is an important step in the evolution of Hockney's digital series, as it marks the turning point. Being made up of both portraits and landscapes, the series range in price from £20,000 to in excess of £300,000 depending upon edition. Within the private market, 'A Bigger Green Valley' and 'Autumn Leaves' have been the most in-demand but it has proven difficult to get buyers and sellers to align on price. 
     
  • Yosemite Suite (2011)

    Yosemite Suite (2011)

    By quantity of works sold and total revenue, the Yosemite series have been historically one of our biggest private market sellers. Geist has often generated more revenue alone privately in a year than the total auction market combined. The series ranged significantly in composition quality, with one third being 'Ok', another third 'Good' and then the remainder 'Amazing'. Over recent years, the prices collectors have been willing to pay have varied significantly depending upon the edition. In the 2024 market, prices typically range between £60,000 - £110,000 for the regular sized Yosemite series. Over the years the private market has often performed better in terms of revenue and prices achieved than the auction market. The record auction result for the Yosemite series is currently held by Phillips London, who sold Yosemite No. 1 for £126,000. 
     
  • The Taschen iPad Series, My Window & A Bigger Book

    The Taschen iPad Series

    My Window & A Bigger Book
    The three Taschen iPad series, A Bigger Book, 220 for 2020 and My Window, have made up a significant chunk of Hockney's total revenue for his iPad series. Combined  the three series generated a total of $1,435,820 in auction revenue in 2023. This was a significant drop in total auction revenue from the previous years record year of $2,232,160. Compared to some of the other series, price of the Taschen iPad works have remained more stable relative to the initial primary release prices. 
     

  • Current Feature Works

  • Appendix & Disclaimers

  • 1. Accuracy of Information

    This report has been researched in-depth and we have only published information from either our own direct experience or from credible secondary market sellers. Despite this we cannot guarentee the accuracy of any of the information included within this report and take no liability for any errors or omissions.

     

    2. Data Sources

    Most of the data included within this report was sourced using Artnet, the world's leading source of auction house sales price data. Despite this, there are not guarentees that Artnet is a perfect source of data as it relies on automated scrapers. Further to this, we have discovered occasions whereby sales results from credible auction house have failed to be included within the Artnet price results. 

     

    3. No Liability

    We do not accept any liability for any third part decisions taken as a result of reading information included within this report. We strongly urge you to double check all information outlined within this report should it be important to you as to any decision you are considering taking.