> Source: https://www.openingbid.art/artist/thomas-demand · updated 2026-11-02

# Thomas Demand (b. 1964)

## What is Thomas Demand’s work worth? {#value}

As of 2 November 2026, OpeningBid has recorded 139 auction results for Thomas Demand at 15 houses since 2000. Over the last 24 months the median price was $14,395 including buyer’s premium (middle half $4,740–$17,780, n=18). The auction record is $413,000 for Yellowcake (Embassy I,II, III, IV, IV.a, V, VI, VII, VII.a) (2015, Phillips). Source: OpeningBid, an independent auction-results database.

**Top auction records: paintings, drawings & sculpture**

| # | Work | Medium | Price | House | Sold |
|---|---|---|---|---|---|
| 1 | Yellowcake (Embassy I,II, III, IV, IV.a, V, VI, VII, VII.a), 2007 | Chromogenic prints, Diasec mounted, in 9 parts | $413,000 | Phillips | May 2015 |
| 2 | Flügel (Grand Piano), 1992 | Color-coupler print | $273,989 | Christie's | Oct 2005 |
| 3 | Abgang, 2000 | Chromogenic print | $172,480 | Christie's | Oct 2007 |
| 4 | Vault, 2012 | Hand coloring | $164,206 | Phillips | Jun 2015 |
| 5 | Laboratory (Labor), 2000 | Hand coloring | $161,000 | Phillips | May 2015 |
| 6 | Collection, 2002 | Chromogenic colour-print face-mounted to Plexiglas | $145,528 | Christie's | Jun 2011 |
| 7 | Mural/Wand, 1999 | Hand coloring | $141,500 | Christie's | May 2002 |
| 8 | Poll, 2001 | Chromogenic print mounted on Diasec | $137,500 | Phillips | Nov 2016 |

**Top auction records: prints & editions**

| # | Work | Medium | Price | House | Sold |
|---|---|---|---|---|---|
| 1 | Zeichensaal, 1996 | C-print face mounted to Diasec | $199,801 | Christie's | Feb 2007 |
| 2 | Fabrik (Mit Namen), 1994 | C-print mounted to Diasec | $153,763 | Christie's | Jun 2006 |

**Median price by medium (last 24 months, n ≥ 5)**

| Medium | Sales | Median |
|---|---|---|
| Photographs | 55 | $50,000 |
| Other | 51 | $32,795 |
| Works on paper | 9 | $3,825 |

**Median price by size (last 24 months, n ≥ 5)**

| Size | Sales | Median |
|---|---|---|
| Large (over 120 cm) | 66 | $62,616 |
| Medium (50-120 cm) | 20 | $13,420 |
| Small (under 50 cm) | 24 | $2,393 |

Data as of 2 November 2026 · Source: OpeningBid, 139 results from 15 houses · [How we compute these figures](https://www.openingbid.art/methodology/price-data)


Thomas Demand is a German artist with 164 auction lots recorded since 2000, median price $26,870. Some sold prices are hammer-only and exclude the buyer's premium; they are marked on this page. Some sold prices are not yet verified as premium-inclusive or hammer, and are marked on this page.

A work by Thomas Demand sold in 2026 for $38,000, according to OpeningBid's index of auction results.

## What is a Thomas Demand work worth?

Across 139 sold lots tracked by OpeningBid, the median price of a Thomas Demand work is $26,870.

The median Thomas Demand photograph sells for $36,540 across 95 lots.

The median Thomas Demand print sells for $3,645 across 23 lots.

The median Thomas Demand painting sells for $20,320 across 3 lots.

Large (over 120 cm) Thomas Demand photographs typically sell for $36,546–$99,500 (the middle half of 57 sold lots).

Prices are premium-inclusive where the house records them; hammer-only prices exclude the buyer's premium, and some prices are not yet basis-verified.

## Price breakdown by category

| Category | Lots tracked | Median price | Record price | Sell-through | Last sale |
|---|---|---|---|---|---|
| Prints & Editions | 28 | $3,645†‡ | $273,989 | 82.1% | 2026-01-25 |
| Paintings | 3 | $20,320 | $32,760 | — | 2026-02-12 |
| Works on Paper | 3 | $20,320 | $108,000 | — | 2023-05-02 |
| Sculpture & Installation | 3 | $26,536‡ | $96,525 | — | 2026-09-12 |
| Photography | 107 | $36,540†‡ | $413,000 | 88.8% | 2026-10-07 |
| Masterpieces (top of market) | 19 | $137,500 | $413,000 | — | 2016-11-17 |

† hammer price — buyer's premium not included.

‡ reported price — whether it includes the buyer's premium is not yet verified.

Thomas Demand's market splits by medium. Prints & Editions (28 lots) median $3,645 with 82.1% sell-through. Paintings (3 lots) median $20,320, record $32,760. A typical Thomas Demand painting sells for around 5.6× the price of a typical print. At the top of the market (top 5% of sales, 19 lots) the median is $137,500.

## Price by size

### Prints & Editions

| Size | Sold lots | Typical range (p25–p75) | Median | Record |
|---|---|---|---|---|
| small (under 50 cm) | 10 | $932–$2,475†‡ | $1,476†‡ | $4,541 |
| medium (50–120 cm) | 6 | $2,420–$21,271†‡ | $5,931†‡ | $37,338 |
| large (over 120 cm) | 6 | $65,908–$104,662 | $86,136 | $273,989 |

† hammer price — buyer's premium not included.

‡ reported price — whether it includes the buyer's premium is not yet verified.

### Photography

| Size | Sold lots | Typical range (p25–p75) | Median | Record |
|---|---|---|---|---|
| small (under 50 cm) | 18 | $1,576–$3,754†‡ | $2,845†‡ | $10,968 |
| medium (50–120 cm) | 18 | $3,024–$15,102†‡ | $12,224†‡ | $86,103 |
| large (over 120 cm) | 57 | $36,546–$99,500 | $62,500 | $413,000 |

† hammer price — buyer's premium not included.

‡ reported price — whether it includes the buyer's premium is not yet verified.

Size is the work's longest edge. Cells appear only with at least 5 sold lots.

## Notable results

| Medium | Year | Price |
|---|---|---|
| Photography | 2015 | $413,000 |
| Prints & Editions | 2005 | $273,989 |
| Photography | 2007 | $199,801 |
| Works on Paper | 2006 | $108,000 |
| Prints & Editions | 2004 | $107,550 |
| Sculpture & Installation | 2014 | $96,525 |
| Paintings | 2023 | $32,760 |
| Sculpture & Installation | 2017 | $26,536 |

The highest recorded result in each medium. The full sale history is in the OpeningBid app (free sign-up).

## Frequently asked questions

### What is a Thomas Demand worth?

Across 139 sold lots tracked by OpeningBid, the median price of a Thomas Demand work is $26,870. The median Thomas Demand photograph sells for $36,540 across 95 lots. The median Thomas Demand print sells for $3,645 across 23 lots. The median Thomas Demand painting sells for $20,320 across 3 lots. Large (over 120 cm) Thomas Demand photographs typically sell for $36,546–$99,500 (the middle half of 57 sold lots). Prices are premium-inclusive where the house records them; hammer-only prices exclude the buyer's premium, and some prices are not yet basis-verified.

### What is the average price of a Thomas Demand photograph?

Based on 95 sold lots tracked by OpeningBid, the median auction price of a Thomas Demand photograph is $36,540. Prices are premium-inclusive where the house records them; hammer-only prices exclude the buyer's premium, and some prices are not yet basis-verified.

### What is Thomas Demand's most expensive photograph?

The highest price recorded at auction for a Thomas Demand photograph is $413,000.

### What is the average price of a Thomas Demand print?

Based on 23 sold lots tracked by OpeningBid, the median auction price of a Thomas Demand print is $3,645. Prices are premium-inclusive where the house records them; hammer-only prices exclude the buyer's premium, and some prices are not yet basis-verified.

### What is Thomas Demand's most expensive print?

The highest price recorded at auction for a Thomas Demand print is $273,989.

### What is the average price of a large Thomas Demand photograph?

Based on 57 sold lots, the median auction price of a large Thomas Demand photograph (large (over 120 cm)) is $62,500, according to OpeningBid's index of auction results.

### What is the average price of a medium Thomas Demand photograph?

Based on 18 sold lots, the median auction price of a medium Thomas Demand photograph (medium (50–120 cm)) is $12,224, according to OpeningBid's index of auction results. Prices are premium-inclusive where the house records them; hammer-only prices exclude the buyer's premium, and some prices are not yet basis-verified.

### What is Thomas Demand's auction record?

Thomas Demand's auction record is $413,000, set in 2015.

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Data last updated 2026-11-02. OpeningBid tracks 15,390,829 auction lots from 577 auction houses, refreshed nightly.

Cite this page as: OpeningBid, “Thomas Demand auction prices”, https://www.openingbid.art/artist/thomas-demand (updated 2026-11-02).

Historical auction data, not investment advice. Prices are premium-inclusive USD where the buyer's premium is recorded. Figures marked † are hammer prices (buyer's premium not included); ‡ marks a price whose basis is not yet verified. Non-USD results are converted at the sale month's rate.