Andy Warhol Moonwalk For Sale

Andy Warhol: Moonwalk Series

Series Performance Opening

The Moonwalk series represents one of Warhol's final major print achievements and has emerged as a commanding presence in the secondary market. Guy Hepner has facilitated 478 Warhol transactions totalling over $51 million across 292 collectors, providing direct insight into how this posthumously published suite performs against the artist's broader catalogue.

Recent auction activity demonstrates sustained institutional and private demand. Trial Proof TP 35/66 achieved $516,000 at auction in October 2025, with the same impression also recording $412,800 in a separate transaction that month. Trial Proof TP 6/66 followed an identical pattern, realising $516,000 and $412,800 respectively. Trial Proof TP 1/66 matched these figures precisely, confirming consistent price thresholds across the trial proof segment.

These results must be contextualised against Warhol's unprecedented market strength. Christie's achieved $195,040,000 for Shot Sage Blue Marilyn in May 2022—the highest price ever recorded for a 20th-century artwork at auction. More recently, Mao prints F.S. II.96 and II.97 each brought $4,648,000 at Christie's in May 2025, while Sotheby's sold Flowers works for $4,076,000 and $3,832,000 that same month. The Moonwalk trial proofs, trading between $400,000 and $520,000, occupy a strategic position: accessible relative to seven-figure Warhol icons yet scarce enough to command serious collector attention.

Technical & Historical Context

Warhol created the Moonwalk series in 1987, the year before his death, drawing from NASA's iconic photograph of astronaut Buzz Aldrin on the lunar surface during the Apollo 11 mission. Ronald Feldman Fine Arts, Inc., New York, published the edition, with Rupert Jasen Smith executing the printing on Lenox Museum Board at 38 x 38 inches.

The numbered edition comprises 160 impressions plus 31 artist's proofs. Beyond this standard edition, 66 unique trial proofs exist, each printed in a distinct colour combination—making every trial proof a singular work rather than one impression among many identical prints.

Warhol's selection of the moon landing as subject matter connects to his career-long engagement with American mythology and media spectacle. Where earlier series immortalised celebrities and consumer products, Moonwalk elevated a technological achievement into the same visual vocabulary. The series stands as Warhol's meditation on heroism, national identity, and the transformation of documentary photography into cultural iconography.

Individual Works

The trial proofs command particular attention from collectors seeking uniqueness within Warhol's systematic print practice. TP 1/66 carries inherent significance as the first in the sequence—a factor that consistently influences competitive bidding. TP 35/66 and TP 6/66 have both demonstrated robust auction performance, each achieving the $516,000 threshold in recent sales.

Our observations across nearly 500 Warhol transactions indicate that collectors increasingly prioritise trial proofs over standard edition impressions. The guarantee of a unique colour combination appeals to buyers who want definitive Warhol works without competing for paintings that now routinely exceed eight figures.

TP 47/66 and TP 32/66 present compelling acquisition opportunities for collectors building comprehensive Warhol holdings. TP 18/66 and TP 41/66 similarly warrant consideration, particularly as available inventory across the 66 trial proofs continues to consolidate into long-term collections.

The synthetic polymer paint on paper work measuring 32 by 24 inches offers a different category entirely—a unique piece rather than a print multiple. Such works appeal to collectors prioritising medium over edition structure, though availability remains extremely limited.

Authentication & Condition

Moonwalk authentication follows a rigorous multi-party verification structure. Each trial proof bears the artist's printed signature on the recto, with pencil inscriptions indicating the specific trial proof number within the 66-impression sequence. Critical authentication markers appear on the verso: signatures from Frederick Hughes as executor of the Andy Warhol Estate, publisher Ronald Feldman, and printer Rupert Jasen Smith. Blindstamps from both printer and publisher provide additional physical verification.

Condition assessment for works on Lenox Museum Board focuses on surface integrity, colour stability, and sheet flatness. Minor surface scuffs, as noted in some cataloguing, typically have limited market impact provided they fall outside primary image areas. Framing history matters considerably—works maintained in archival conditions with UV-protective glazing demonstrate superior colour retention compared to those exposed to direct light.

Collectors should request full provenance documentation and condition reports prior to acquisition. Guy Hepner provides comprehensive verification services for all Moonwalk works offered through our inventory, ensuring authentication standards meet institutional collecting requirements.

Investment Analysis

The Moonwalk trial proofs occupy an advantageous position within Warhol's market architecture. At $400,000 to $520,000, they price below major Marilyn, Mao, and Flowers prints now trading at $3.8 million to $4.6 million and above, yet they carry the distinction of uniqueness that standard edition Warhol prints cannot offer.

Compared to Warhol's Self-Portrait prints—one example achieving $18,144,000 at Sotheby's in November 2023—the Moonwalk series presents acquisition thresholds attainable for serious private collectors rather than exclusively institutions and ultra-high-net-worth buyers.

For 2026 acquisitions, early trial proof numbers and impressions with complete verso authentication signatures warrant priority consideration. The total pool of 66 unique trial proofs creates inherent scarcity that will intensify as works enter permanent museum collections. Collectors seeking Warhol exposure below the $1 million threshold should act decisively when strong examples surface.

Acquiring Moonwalk Works

Guy Hepner maintains active inventory and sourcing capabilities across the Moonwalk series. Contact our New York team directly to discuss current availability, commission acquisitions from our collector network, or review condition documentation on specific works. Our transaction history with 292 Warhol collectors positions us to facilitate acquisitions efficiently and discreetly.