The photo fine art market is quite unregulated,
what i have read and learnt so far is that a
good piece of art should have Provence,
Authenticity, Quality, Condition, Exposure.
Provence, aka who-has-owned-this-previously
applies more to original paintings, however
for fine art photography, this is a bit difficult
as negatives can be made into multiple prints,
also known as editions.
Originally, silver gelatin print (also known as wet print)
is the way to go, however, I find that Lithographic
prints or the older Gravure printing are also popular and
cheaper alternative. With digital media, I expect
the next wave to include non-silver print as well.
Prints comes in editions, for example, for certain size
and medium, a print can be limited to say 100 or 1000 prints.
Usually these prints are signed by the author either
on the photo or on the flip side ("verso").
Everything being equal, older limited prints/photos with
signature are worth more. Photos or prints with signature
printed (rather than hand-signed), especially when the
author has passed on, is worth less.
However, the question is, how does one value the price of
(a) an original silver print with signature (b) a hand signed picture
of a lithograph carefully removed from a first book (c) an
autographed Photo book.
Here are two similar prints of HCB's lunch by the river:
http://www.ebay.com/itm/HENRI-CARTI...84702?pt=Art_Photo_Images&hash=item417346a85e
http://www.ebay.com/itm/HENRI-CARTI...?pt=UK_Art_Photographs_RL&hash=item1e80f9edfd
both are signed, the top link is 12,500 while the bottom one is only 550 usd.
the main difference is that the top item is an official print by HCB, it is
silver print, signed and stamped. While the second is a lithographic print, in
poorer condition, and HCB's signature appear more as an autograph than a
signature.
Valuating photo print is quite tricky, there are few books on collecting and
valuing photos, i am still reading up and trying to figure out about this
market. From my observation, the prices come about from three sources:
a. Previously sold similar pieces b. prices that buyers are willing to pay (eg.
Ebay, Artnet) c. Market makers like Christies or Sotheby's who put up price
ranges in catalogs as an indicator of how much the item could fetch in an
auction.
(still learning and reading)
raytoei