PHOTOGRAPH COLLECTING gains new stature as prices rise. Price records are being set at auctions this week. At Christie's, a folio of 21 prints from Alfred Stieglitz's "Equivalents" series sold for $396,000, a single-lot record. Other works also have been exceeding price estimates. In part, prices reflect development of a market structure based on such variables as the number of prints. This information used to be poorly documented and largely anecdotal, says Beth Gates-Warren of Sotheby's. "There is finally some sort of sense in the market," she says. Corporations and museums are among the serious buyers, giving greater market stability, says Robert Persky of the Photograph Collector. "When I see prints going into the hands of institutions, I know they aren't going to come back on the market." Most in demand: classic photographs by masters such as Stieglitz and Man Ray. But much contemporary work is also fetching "a great deal of money," says Miles Barth of the International Center of Photography. 
How many of Alfred Stieglitz's prints sold at a record price?
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