As collectibles have matured from hobby into an alternative asset class, no segment demonstrates this transition more than modern art. There are many modern artists who have routinely seen paintings sell for $500,000 to $1 million. It is not even that uncommon to see modern art pieces sell for more than $5 million and $10 million. Some modern artists, like Keith Haring (and Andy Warhol and others) are quite well known. Does this make Haring’s prints, silkscreens and lithographs a good investment as has been the case in his original works?

Keith Haring is an iconic modern artist who went from a street artist to a recognized modern artist in the 1980s. He passed away in February of 1990 from AIDS-related complications. As with many artists, their artwork lives on well beyond the artist’s physical life. There are now many of his works that come up for sale and auction.

One question for modern art collectors is whether Keith Haring’s art should be viewed for collectors or whether investors will drive his original works higher and higher. It may depend on what type of works are being discussed, but many of Keith Haring’s paintings have already sold well above the $1 million mark.

Haring’s style is as unique and recognizable in 2021 as it was in the late 1980s. The style of simple lines that created posters and album covers for the likes of Madonna stood on their own in murals that can be visited today in the boroughs of New York. The energy in his pop art visually defined 1980s New York. As a contemporary of Andy Warhol, and with Haring’s unique style, his paintings have been commanding high prices.

Christie’s has seen original Haring works of art sell well above $1 million. Christie’s also recently had a Keith Haring piece (Untitled, from Three Lithographs) with an original estimate of $30,000 to $50,000 which actually sold for a total of $112,500 on July 20, 2021. A Christie’s sale from June of 2020 realized nearly $6 million after converting British pounds into U.S. dollars.

Where the Keith Haring story is available for collectors and investors right now is that many of his works are still sold in auction and other formats at much more affordable prices than original 1/1 paintings. Collectors Dashboard has tracked multiple art sales of this iconic modern artist, and his production. Original paintings are already in the investment category of modern art, but what about the prints, lithographs and silkscreens?

Keith Haring originals are separate from works licensed by his estate following his death. As you might expect, works produced after his death do not carry the premiums that are understood concerning original artwork by the artist.

Heritage Auctions has been one tool to sort out the more common works from the originals. Here are some recent sale prices of Keith Haring prints sold by Heritage Auctions:

• No. 8, from Apocalypse portfolio, 1988. Silkscreen in colors on heavy wove paper. 38 x 38 Sold for $8,750.00 on April 22, 2021
• No. 9, from Apocalypse portfolio, 1988. Silkscreen in colors on heavy wove paper. 38 x 38 Sold for $10,312.50 on April 22, 2021
• Double Man, from Portfolio of 5 Artists in Support of Bill T. Jones/Arnie Zane & Company Lithograph in colors on Rives BFK paper Signed, numbered and dated in pencil lower right. Sold on April 22, 2021 for $50,000.00
• Untitled, from Pop Shop III, 1989. Screenprint in colors on wove paper. 11-3/4 x 14-1/2 in sold on April 22, 2021 for $27,500.00
• Untitled, from Pop Shop III, 1989. Screenprint in colors on wove paper. 11-3/4 x 14-1/2 in sold on April 22, 2021 for $27,500.00
• Three Eyed, from Icons, 1990. Silkscreen in colors with embossing on Arches Cover paper. Sold on April 22, 2021 for $18,750.00

The prices paid above reflect the popularity of anything done by Keith Haring including readily produced prints. Here are some of the one of a kind originals that have come to auction through Heritage Auctions:

• June 18, 2020 Acrylic and gold paint marker on red Plexiglass 32 x 40 inches sold for $515,000.40
• May 24, 2018 Untitled, 1984 Sumi ink on paper 23 x 29 inches (58.4 x 73.7 cm) (sheet) Signed and dated on verso: K. Haring Jan. 14-84 sold for $131,250.00
• May 22, 2017 Untitled, 1982 Ink on paper 23 x 29 inches (58.4 x 73.7 cm) (sheet) Signed and dated verso: K. Haring April 6, 1982 sold for $93,750.00
• May 2, 2016 USA-1, 1984. Oil on burlap. 24-1/2 x 21-1/2 inches (62.2 x 54.6 cm). Signed, titled, and dated sold for $162,500.00
• May 2, 2016 Untitled, 1981 Acrylic on canvas board 11 x 14 inches (27.9 x 35.6 cm) Signed twice, inscribed, and dated verso: Keith Haring Kutztown 230 S. Whiteoak, Dec. 29-81, K. Haring sold for $100,000.00

Whether or not Haring’s more affordable pieces will appreciate ahead like his paintings did remains to be seen. The shares and fractional ownership Masterworks.io platform has shown how many of Haring’s original pieces have risen more than tenfold since his passing.

Collectors Dashboard evaluates collectibles as an alternative asset class. This means collectibles are attracting the same capital that could have been invested into stocks or bonds. Many collectibles now cost thousands of dollars (or much more). Collectors with a passion to own artwork for years frequently have to compete directly against investors whose only desire is to make a profit in the future.

In 2017 the popular PBS TV program Antique Roadshow appraised an original Keith Haring subway graffiti for $30,000.00 to $50,000.00 and the original airing was updated in a rebroadcast in 2019 for the same value. Would that be the case at one of the major auction houses in 2021?

Image below provided by Heritage Auctions.