The differences between contemporary art vs modern art lie not only in their time periods but also in their artistic philosophies, mediums, and cultural relevance. While modern art emerged between the 1860s and the 1970s, reflecting themes of industrialization and abstraction, contemporary art, from the 1970s to the present, engages more with issues like identity, globalization, and technology.
Though often confused by those unfamiliar with art history, these movements represent distinct phases of artistic evolution, each with its own iconic works and influential artists. In this article, we’ll dive into the major differences, highlight examples of masterpieces from both periods, analyze their current market values, and assess their potential return on investment (ROI).
Table of Contents
What is Contemporary Art?
Contemporary Art refers to works created from the 1970s to the present, characterized by its conceptual focus, diverse mediums, and global themes. Unlike previous movements, it is not defined by a singular style but rather by its adaptability and engagement with social, political, and technological issues.
Contemporary artists use a broad range of mediums, including painting, sculpture, digital media, video installations, and performance art. The focus is often on the concept rather than aesthetics, prioritizing social commentary, critical thought, and experimentation over traditional artistic techniques.
Globalization has shaped contemporary art, leading to increased cultural exchange and diversity. Artists frequently explore themes such as identity, migration, climate change, and technological advancements, reflecting the interconnected nature of the modern world.
Notable Artists and Works
- Damien Hirst – “The Physical Impossibility of Death in the Mind of Someone Living” (1991): A preserved shark in formaldehyde, addressing themes of mortality and perception. Sold for over $12 million in 2004.
- Jeff Koons – “Rabbit” (1986): A stainless-steel sculpture blending mass production and fine art. Sold for $91.1 million in 2019, setting a record for the most expensive work by a living artist.
- Yayoi Kusama – “Infinity Mirror Rooms” (1965–present): A series of immersive installations using mirrors and lights to create the illusion of endless space.
- Ai Weiwei – “Sunflower Seeds” (2010): A large-scale installation of 100 million handcrafted porcelain seeds, symbolizing mass production and individual identity in modern society.
Contemporary art remains a dynamic and evolving field, continuously adapting to new cultural, technological, and intellectual landscapes.
What is Modern Art?
Modern Art, created between the 1860s and 1970s, marked a decisive shift away from traditional artistic conventions. Fueled by industrialization, technological advancements, and social change, this movement rejected classical ideals in favor of abstraction, experimentation, and new forms of expression. Modern artists sought to depict a rapidly evolving world, challenging established artistic norms and redefining the role of art in society.
Rather than adhering to realism, modern artists explored abstraction, unconventional techniques, and bold color theories. While oil painting remained prevalent, artists also experimented with collage, mixed media, and early photography, expanding the boundaries of artistic practice. The period gave rise to some of the most influential movements in art history, including Impressionism, Cubism, Surrealism, and Abstract Expressionism—each pushing artistic innovation further.
Notable Artists and Works
- Pablo Picasso – “Les Demoiselles d’Avignon” (1907): A pioneering work of Cubism, challenging traditional perspective and reshaping the course of modern abstraction. Now valued in the hundreds of millions.
- Jackson Pollock – “No. 5, 1948”: A defining example of drip painting, representing the energy and spontaneity of Abstract Expressionism. Sold for $140 million in 2006, making it one of the most expensive modern artworks ever sold.
- Claude Monet – “Impression, Sunrise” (1872): The painting that gave Impressionism its name, revolutionizing the depiction of light and movement in art.
- Salvador Dalí – “The Persistence of Memory” (1931): A surrealist masterpiece, symbolizing the fluidity of time and the unconscious mind.
Modern Art redefined artistic boundaries, emphasizing individual interpretation, radical experimentation, and a break from academic traditions. Its influence continues to shape contemporary artistic movements, bridging the past and present in the ongoing evolution of visual expression.
Key Differences Between Contemporary and Modern Art
The key differences between contemporary and modern art lie in their time periods, subject matter, techniques, and artistic intentions, reflecting the evolution of artistic expression through different eras. Understanding these distinctions provides insight into how art has responded to and shaped the world around it.
In terms of time periods, modern art refers to works created roughly from the 1860s to the 1970s, while contemporary art covers creations from the 1970s to the present. Modern art emerged in response to the industrial age and urbanization, as artists sought to break free from traditional representation, exploring themes related to psychology, social change, and the impact of industrialization. In contrast, contemporary art deals with issues of the digital age, globalization, identity, and political activism, reflecting the complexities of the modern world. This broader range of subject matter often pushes the boundaries of what can be considered art, as artists respond to current cultural, political, and social landscapes.
The mediums and techniques used in modern and contemporary art also mark a significant difference. Modern artists, while experimenting with new styles like Cubism, Fauvism, and Surrealism, largely worked within traditional mediums such as oil paints, charcoal, and bronze. Their innovations were groundbreaking for their time but still rooted in conventional methods. On the other hand, contemporary artists often embrace technology, incorporating digital art, video installations, and even virtual reality into their work.
Artistically, modern art focused on individual expression and experimentation with form, color, and perspective. Movements like Expressionism and Futurism exemplify how modern artists sought to evoke emotions and capture the essence of futurism and abstraction. In contrast, contemporary art is often conceptual, emphasizing the idea behind the work rather than its aesthetic value. Many contemporary artists aim to provoke thought or elicit reactions from their audience, using their art as a vehicle to address cultural, social, and political issues directly.
Historic ROI for Contemporary Art
Contemporary art has proven to be a lucrative investment for those able to identify rising talents and shifting market trends. It has shown the potential for extraordinary returns, particularly with works by trending or highly sought-after artists. However, contemporary art is also subject to greater market volatility, with price fluctuations driven largely by trends, media attention, and the cultural relevance of the artist.
One of the most notable examples of high ROI in contemporary art is Damien Hirst’s work. His piece “The Physical Impossibility of Death in the Mind of Someone Living” sold for just $50,000 in 1991, but by 2004, it fetched a staggering $12 million at auction, representing a 24,000% increase in value. Similarly, Jean-Michel Basquiat’s painting “Untitled” experienced explosive growth in value. Purchased for $19,000 in 1984, it sold for a record-breaking $110.5 million in 2017—an 581,000% appreciation in just over three decades.
Another fascinating example is Banksy’s “Love is in the Bin.” Initially sold for $1.4 million in 2018, its value more than doubled to approximately $3 million after the artwork famously shredded itself at auction. This showcases the remarkable potential for value growth in contemporary art, particularly when media events or cultural phenomena amplify interest.
On average, contemporary art has delivered a solid annual ROI of 7-10% over the past decade, according to the 2024 Artprice Contemporary Art Market Report. However, these averages mask significant variability, with some works skyrocketing in value while others remain relatively flat. The art market’s sensitivity to trends and the rise of digital platforms such as NFTs have further heightened the potential for sudden increases in value, making contemporary art a high-risk, high-reward investment sector.
Historic ROI for Modern Art
Modern art, encompassing works by giants such as Pablo Picasso, Claude Monet, and Mark Rothko, has long been considered a stable and reliable investment. Unlike contemporary art, which can see drastic short-term fluctuations, modern art has delivered consistent, long-term appreciation. It is often viewed as the “blue-chip” asset of the art world, offering steady returns over time.
Take Picasso’s work as an example. His painting “Les Femmes d’Alger” sold for $179.4 million at Christie’s in 2015, setting a new auction record. The piece, originally part of a series completed in the 1950s, had seen several sales over the years, each reflecting steady value growth.
Claude Monet’s “Haystacks” series demonstrates a similar trend. A painting from this series sold for $2.53 million in 1986. Fast forward to 2019, and another painting from the same series achieved a price of $110.7 million at auction, reflecting a significant long-term ROI.
Modern art has consistently provided an average annual ROI of 6-9% over the past two decades, according to Artprice data. While these returns may not rival the sharp spikes seen in contemporary art, they reflect the dependable nature of modern art as an investment. With works by artists like Monet and Picasso consistently appreciating in value, modern art offers more predictable, long-term returns. This stability is highly valued by investors seeking to diversify their portfolios with lower-risk assets compared to the more speculative and trend-sensitive contemporary art market.
Creation of Modern Art vs Contemporary Art
The creation of modern art and contemporary art reflects not only the tools and methods available at the time but also the evolving perspectives on what constitutes art. These differences in creation techniques offer a clear distinction between the two periods and demonstrate how artists have adapted to changing technologies and societal shifts.
Modern Art Creation Techniques
Modern art was rooted in the traditional use of materials like oil paints, watercolors, pastels, and sculpting mediums such as clay and bronze. Artists like Pablo Picasso, a pioneer of Cubism, sought to break away from classical representation by experimenting with fragmented perspectives and abstract forms, while the Impressionists, such as Claude Monet, revolutionized the use of light, color, and brushstrokes to convey emotion and fleeting moments.
The process of creating modern art was often labor-intensive and methodical, involving multiple stages of preparation such as sketching, underpainting, and layering. The emphasis was on individual craftsmanship, with artists deeply involved in every stage of the creation process, adhering to traditional artistic methods passed down through centuries. In many cases, modern artists sought to express the world around them, reacting to the industrial revolution, urbanization, and social change. Movements like Surrealism and Fauvism, although avant-garde for their time, still relied heavily on the artist’s hand and mastery of technique to convey emotion and abstraction through traditional mediums.
Contemporary Art Creation Techniques
In contrast, contemporary art creation has expanded to include an entirely new array of digital and technological tools. The rise of photography, video installations, 3D printing, and even AI has transformed the way artists work. Digital tools have freed contemporary artists from the physical constraints of canvas and paint.
For example, artists like Beeple (Mike Winkelmann) have embraced new platforms such as NFTs (Non-Fungible Tokens) to sell their entirely digital works, allowing for art to exist and be traded purely in the digital realm. This shift means that contemporary art can be more spontaneous, conceptual, and often collaborative, utilizing technology to blur the boundaries between different mediums.
Artists today are no longer confined to physical materials; they can create pieces that exist both digitally and physically. This fluidity between the digital and physical realms marks a stark contrast to modern art, where the tangible creation was a central aspect. Contemporary art can now engage with virtual reality, interactive installations, and digital algorithms, making the creative process more versatile and accessible.
Sale & Delivery
When it comes to sales and delivery, modern art has traditionally followed established routes through prestigious auction houses like Sotheby’s and Christie’s, where buyers can bid on rare and iconic works. Major works from renowned artists such as Picasso or Monet have fetched astronomical prices in these settings, where collectors and institutions compete for ownership. For instance, Picasso’s “Les Femmes d’Alger” sold for a record $179.4 million in 2015, showcasing the lasting value of modern masterpieces. The art market for modern works tends to focus on the rarity and historical significance of pieces, with auctions often involving lengthy processes, high fees, and exclusive clientele.
The physicality of modern art means it often requires careful transportation and storage, especially for large paintings or sculptures, adding a layer of complexity and cost to the process of sale and delivery. The sale of contemporary art, however, has evolved rapidly with the rise of the internet and digital platforms. While traditional auction houses still handle significant sales for contemporary pieces, artists today have alternative ways of reaching a global audience.
Online galleries, social media platforms, and NFT marketplaces have democratized the art market, allowing artists to sell directly to collectors worldwide. Platforms like OpenSea and Rarible enable the buying and selling of digital art, with transactions occurring almost instantaneously through blockchain technology. This shift has introduced a new level of accessibility and liquidity in the art market. Digital works can be transferred instantly, without the logistical challenges of physical delivery. Moreover, NFTs have opened up new revenue streams for artists, as creators can continue to receive royalties from secondary sales, something that traditional artists seldom benefited from once their work left the gallery.
Which Art Type Is Best For You?
When it comes to choosing between Modern Art and Contemporary Art as an investment, the decision depends on your personal preferences, risk tolerance, and investment goals. Both art forms offer unique opportunities, but they cater to different kinds of collectors and investors. Here, we’ll break down which type of art might be the best fit for you, depending on your circumstances.
Modern Art: Best for Stability and Long-Term Growth
If you are looking for long-term appreciation with a more stable investment, Modern Art might be the ideal choice. Artworks by Pablo Picasso, Jackson Pollock, and Claude Monet have a strong historical significance, with decades of consistent performance in the art market. Here are some reasons why you might opt for Modern Art:
- Steady Returns: Modern art is considered a blue-chip investment, similar to stocks from established companies. Artworks by major modern artists have steadily appreciated in value over the years. For example, Picasso’s “Les Demoiselles d’Avignon” has been estimated to have increased in value by over 500% since the 1970s.
- Proven Track Record: The prices of Modern Art tend to be more predictable, with lower volatility compared to Contemporary Art. If you’re seeking an investment that holds its value and appreciates consistently over time, Modern Art provides security. Major works of Impressionism and Cubism rarely experience significant drops in value, making them ideal for conservative investors.
- Cultural Legacy: Investing in Modern Art is not just about financial returns. Many collectors are drawn to the cultural and historical legacy of these works. Owning a piece by Monet, Van Gogh, or Rothko means owning part of art history.
Contemporary Art: Best for High Risk, High Reward
For those looking for higher returns and are willing to take on more risk, Contemporary Art could provide lucrative opportunities. Many contemporary artists are still alive, and their market prices can fluctuate depending on trends, media exposure, and market interest. Here’s why you might choose Contemporary Art:
- High Growth Potential: While Modern Art grows steadily, Contemporary Art can experience explosive growth. The value of works by Jean-Michel Basquiat, Banksy, and Kaws has increased dramatically over the last decade. For example, Basquiat’s “Untitled” painting sold for $19,000 in 1984, and in 2017, it sold for $110.5 million, showcasing the incredible potential for growth in the contemporary market.
- Dynamic Market: The Contemporary Art market can be more dynamic and responsive to cultural shifts, media coverage, and global trends. For example, the rise of NFTs (Non-Fungible Tokens) in the art market demonstrates how technological advancements can create entirely new markets for contemporary digital artists.
- Diversity and Accessibility: Contemporary Art offers a broader range of styles, subjects, and mediums, making it more accessible to younger collectors or those looking for art that reflects current cultural or political themes. Moreover, entry costs can be lower, with many emerging artists offering pieces at more affordable prices compared to works by established modern artists.
