Limited edition prints: what the numbers mean
The fraction written on the margin of a print gives the number of that impression and the total size of the edition, so 12 of 50 means the twelfth impression of an edition of fifty, and the smaller the edition the higher the value per impression.
gelisted editorial team · Updated 15 August 2026
The short version
- The fraction states impression number and edition size.
- Artist proofs are marked separately from the numbered edition.
- An edition of 30 prices above an edition of 200.
- The plate or file should be cancelled once the edition is complete.
Two numbers in pencil on the margin carry most of the information about what has been bought. Reading them takes a second and changes the valuation entirely.
What the fraction means
The first number is the impression, the second is the size of the edition. So 12 of 50 is the twelfth impression of fifty. In most techniques the impressions are of equal quality and the number does not indicate order of printing, although with certain traditional processes earlier impressions can be crisper. The edition size, by contrast, always matters, because scarcity is what the market prices.
| Marking | Meaning | Note |
|---|---|---|
| 12/50 | impression 12 of an edition of 50 | the numbered edition |
| AP or EA | artist proof | outside the numbered edition |
| PP | printer proof | for the workshop |
| HC | not for sale | hors commerce |
| BAT | approved proof | the reference impression |
| Edition of 30 | higher value per impression | |
| Edition of 200 | lower value per impression | |
| Open edition | no scarcity | prices lowest |
The proofs
Artist proofs sit outside the numbered edition and are traditionally reserved for the artist, usually amounting to around 10 per cent of the edition. Printer proofs go to the workshop. And the approved proof is the impression the artist signed off as the reference for the run. They are legitimate and collectable, but an edition of 50 with 40 proofs is really an edition of 90, and that is worth knowing.
What a genuine print requires
A signature and numbering in pencil by the artist, on the margin. A stated technique: etching, lithograph, screenprint, pigment print. Archival paper and pigment inks where it is a digital process, because dye based inks fade. And a statement that the plate, screen or file has been cancelled or destroyed once the edition is complete, which is what makes the limitation real.
A poster of a painting is not a print, however good the reproduction and however many are made.
What to ask before buying
The exact edition size including all proofs. The technique used. The paper and ink where it is a digital process. Whether the matrix has been cancelled. And whether a certificate accompanies it. Five answers that take a minute and separate a collectable print from a decorative reproduction priced as if it were one.
Frequently asked
+What does 12/50 mean on a print?
The twelfth impression of an edition of fifty.
+What is an artist proof?
An impression outside the numbered edition, traditionally reserved for the artist, usually around 10 per cent of the edition.
+Does edition size affect price?
Yes. An edition of 30 prices above one of 200, because scarcity is what the market values.
+What makes a print genuine?
Pencil signature and numbering, a stated technique, archival materials and cancellation of the matrix.
+Is a poster the same thing?
No. A reproduction with no limitation and no matrix is not a print in the collectable sense.
Sources
- 1Boletín Oficial del Estado, BOE (August 2026)
- 2Instituto Nacional de Estadística, INE (August 2026)