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Edition Sculpture

Are lower numbered limited edition artwork collectables more valuable than higher numbers?

I recently purchased a sculpture with a higher number than what the seller advertised.I was wondering if this is a big deal or not??
Is 240/5000 more valuable than 3352/5000?

In short, no. As long as the number of editions is the same, ie x/y, then the value of x isnt worth any more than x+20, or x-50, etc. What matters in your case is the value of y. The smaller the number of editions (ie the smaller the value of y) generally the greater the value. So as long as the total number of editions is the same as what was advertised, dont worry about it. However, if you bought thinking there was only a few hundred editions, and it turns out there are significantly more, ie. in the thousands, than I would say that is fraud and false advertising.
Typicall the first number of an edition is NOT labeled 1/y, but is instead labled as AP or A/P, meaning Artist's proof. Any artists proof is typically valued much more than any other number. There may be a slight increase in value with the final number of the edition, but not the increase in value as seen in an artists proof. Often the AP is kept by the artist themself.

[phpzon]Edition Sculpture, 10, HomeGarden[/phpzon]