What is the Secondary Art Market?
First of all, there has probably never been a more loosely used term than "secondary art market". It is often inaccurately used to describe any work of art that is owned by someone; or any work of art that has changed hands more than once or any work of art that was created by a deceased artist.
Here is what the Secondary Art Market really is:
It is an unofficial network comprised of dealers and individuals who buy and sell "prints" above the issue price, "after" an image is sold-out by the publisher.
What does Secondary Market Value mean?
The secondary market value is the reported price for a sold-out limited edition. It is set by supply and demand. Unlike retail prices, secondary market prices can vary from one source to another.
What does signed and numbered mean?
Signed and numbered means that the limited-edition print has been signed and sequentially numbered by the artist. The artist's signature is usually found in one of the lower corners of the print and is accompanied by a number that looks like a fraction; the top number indicates the number of the print and the bottom number indicates the total number of prints in the edition.
What does sold-out mean?
The term sold-out means that all of the prints in a limited edition have been sold or acquired by dealers or collectors. When this happens, the only way to acquire such a print is on the secondary art market.
What is a time-limited edition?
At time-limited edition is one whose size is established by the number of orders a publisher receives during a set period of time.