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The Market | Market Prices

Market Prices of Rembrandt Etchings

Rembrandt etchings have shown significant price increases over time. This is likely due to the importance of Rembrandt as the most innovative master of the technique of etching, the sheer beauty of his etched imagery, his place in the history of art, and the limited availability of Rembrandt etchings throughout the world.

Rembrandt scholar G.W. Nowell Eusticke, authored a catalog raisonné of Rembrandt’s etchings in 1967. In the catalog, he placed estimates of value for Rembrandt’s “most valuable” etchings for both “lifetime” examples and posthumous examples.

As the book was being prepared for publication, an auction was held of Nowell Eusticke’s collection (October 31--November 1, 1967) at Parke Bernet Galleries in New York (now Sotheby’s). Prior to final publication, Eusticke was able to add comments regarding the auction prices to the book, including the following noteworthy observation:

“The prices realized were simply amazing, being far in advance of anything previously known, even comparatively common prints fetching very high prices. This increase was so enormous that I feel quite uncertain as to its meaning—it either indicates a tremendous and unsuspected dormant demand for Rembrandt’s work, or else is a harbinger of inflation.”

-Nowell Eusticke – 1967

Although unusual, Eusticke also went on to publish these actual auction prices in his book so that readers could compare his evaluations with the prices fetched.

A Price Comparison

Below are a few of Nowell Eusticke's valuations and actual 1967 auction prices as compared to recent auction prices:

Name of Work Eusticke Valuation 1967 Auction Price Recent Highest Auction Price
Six’s Bridge
(B. 208)
$10,000 $45,000 $173,000, Sotheby’s New York (5/13/1993)
The Three Trees
(B. 212)
$22,500 $20,000 $396,328, Hauswedell & Nolte, Germany (6/9/2006)
Landscape with a Cow Drinking
(B. 237)
$11,000 $6250 $185,328, Christies London (11/29/1988)

Late 20th and early 21st Century Record Prices for Extremely Rare Rembrandt Etchings at International Auctions

Over the past 20 years collectors have continued to treasure Rembrandt etchings, as evidenced by the prices for these relatively small etchings (most Rembrandt etchings are not much bigger than 4” x 5” with the largest less than 17” x 21”) ranging from hundreds of thousands to nearly a million dollars for a single etching. The particular works described below are extremely rare and likely but not assuredly printed under Rembrandt’s direct supervision during his lifetime. (Source: Gordons)

$971,454; Christ Crucified Between the Two Thieves (B.78); Christies, London; 12/5/06

$970,465; Christ Presented to the People (B.76); Christies, London; 12/10/91

$618,500; Jan Six (B.285); Sotheby’s, New York; 5/13/93

$325,000; The Hundred Guilder Print (B.74); Sotheby’s, New York; 11/1/07

$230,500; Presentation in the Temple: Dark Manner (B.50); Sotheby’s, London; 9/20/07

$199,169; Adam and Eve (B.28); Christies, London; 12/2/08

$182,186; Christ at Emmaus (B.87); Sotheby’s, London; 9/20/07

$115,734; Jan Lutma, Goldsmith (B.276); Christies, London; 12/4/07

$102,467; Descent From the Cross-Torchlight (B.83); Sotheby’s, London; 9/20/07

$97,731; Abraham’s Sacrifice (B.78); Christies, London; 12/4/07

$84,000; Christ Before Pilate: large Plate (B.77); Swann Galleries, New York; 5/1/08

$84,000; Windmill (B.233); Swann Galleries, New York; 10/31/06

$81,446; Great Jewish Bride (B.340); Galerie Gerda Bessenge; 12/1/05

The Market for Rembrandt Etchings

For more information on the Park West Rembrandt collection: (800)-521-9654 xt. 4 or (248) 354-2343.