Lladro Retired Pieces
Lladro has 3 types of pieces they manufacture. It's important that you know the differences.
Open Edition: These are pieces produced in unlimited quantity for as long as it was being issued. Some pieces were Open Editions for over 20 years so that'll reduce it's collectibility. Over time these should still rise in value as they are no longer being produced.
Limited Edition: These are pieces limited to a certain amount produced. Not every limited piece is produced in the same quantities. They do come with a certificate authenticating it as a limited edition. You may fine one Limited piece has 3,000 made and another where it was 10,000. These are obviously more collectible because of the much smaller quantity made.
Numbered Series: This is kind of a hybrid. They produce pieces in an unlimited number until they are retired but each piece is given a number and a certificate. In general, lower numbers are worth more because they are older.