In a world that feels like it’s changing faster than ever, understanding shifts in artwork auctions helps you stay on top of this ageless collection market. Besides changes in auction behavior, trending artwork has swung in different directions than in decades past. Learn about 2023 artwork auction trends and how they could affect your art collection.

Whether through a private sale or an auction house, art connoisseurs worldwide love adding famous paintings to their collections. The prices of expensive art depend on multiple factors, such as who painted it, when they painted it, and its subject matter. When considering the pieces of art that have sold for the highest amount of money, the examples in this list top out in the hundreds of millions, proving that art remains a popular investment. 

Many collectors of fine art expect that their artwork holds value higher than the price they originally paid. However, how do you know if you own valuable art or a mass-produced piece? Some of the questions you can ask to determine this include: 

Attending auctions is one of the most exciting ways to find new art for your collection. While you may discover interesting pieces at estate sales or galleries, artwork auctions provide you with the opportunity to get your hands on a rare piece of high value at a reasonable price tag. Before attending auction houses or throwing your hat into the online-only auction ring, understanding what to look for in artwork up for bid can help you find pieces worth adding to your collection. Know how to tell if the art at auctions merits competitive bidding with this short guide.