What is the difference between an edition and an original?

An original is a single, unrepeatable work, whereas an edition is produced in a limited, numbered run — typically prints, sculptures or photographs. A marking such as 12/50 means the twelfth piece out of fifty, usually confirmed by the artist's signature. What gives an edition its value is controlled scarcity: the smaller the run, the higher the price, while overproduction pushes the price down.