The Most Expensive Contemporary Artworks in The World
- Alexander Anisimov
- Aug 27
- 8 min read
Basic Reasons for High Price
Contemporary paintings become expensive for several reasons, including limited editions, high demand from collectors, and the influence of fashion and prestige. The cost also depends on the artist's skill, subject matter, materials, and even the size of the painting.
Factors affecting the value of contemporary paintings for The Most Expensive Contemporary Artworks in The World:
Supply and demand:
If a painting is in high demand and supply is limited (for example, the artist has few works or they are unique), the price can be very high.
Artist's skill:
An artist's training, experience, and skill level all affect the price of their work.
Themes and materials:
Paintings that reflect important historical events or use rare materials are often valued more highly.
Size of the painting:
Size can affect the price, especially if it is difficult to assess the artistic value.
Provenance (history of ownership):
The more famous and “noble” the history of ownership of a painting, the higher its value.
Fashion and prestige:
The artist's name and their recognition in the art world also play a significant role in pricing.
Chance:
An artist's success may depend on a combination of circumstances, such as fortunate acquaintances or entering the art market at the right moment.
Speculation and excess money:
Some paintings, especially those by contemporary artists, can be expensive due to speculation in the art market and the fact that wealthy people have large sums of money that they want to invest.
List of The Most Expensive Contemporary Artworks in The World:
#1 Willem de Kooning USD 300 million, The Most Expensive Contemporary Artworks in The World
Canvas, oil. 175.3 × 200.7 cm
'Interchange' (also known as Interchanged) is a 1955 painting by Dutch-born American expressionist artist Willem de Kooning. The painting is one of de Kooning's first abstract landscapes, marking a change in his style under the influence of Franz Kline. In September 2015, the David Geffen Foundation sold it to Kenneth Griffin for $300 million, making it one of the most expensive paintings in the world. The painting is currently on loan to the Art Institute of Chicago.
When Dutch artist Willem de Kooning painted the ugly reality of the new world—at least, that is how his painting “Exchange” is interpreted—he never imagined that many years later this work would be sold at auction for $300 million. Incredible, isn't it? Yet some people see only smeared paint in this abstract painting.
#2 Jackson Pollock - USD 200 million
Jackson Pollock's painting is in a private collection. In 2015, it was purchased by American billionaire Kenneth Griffin, according to Robb.report. Usually, paintings from private collections are not exhibited for public viewing.
Jackson Pollock's painting “Number 17A,” sold for $200 million, is an abstract canvas created using the drip painting technique. The painting does not depict any specific objects or figures; instead, it consists of intertwining lines, splashes, and drops of paint that create a dynamic and complex pattern.
Paul Jackson Pollock (January 28, 1912 – August 11, 1956) was an American painter, ideologist, and leader of abstract expressionism, who had a significant influence on art in the second half of the 20th century.
He was widely known for his technique of pouring or splashing liquid household paint onto a horizontal surface (“drip irrigation technique”), which allowed him to view and paint his canvases from all sides. It was also called “action painting” because he used the strength of his entire body to paint, often in a frenzied dance-like style. This extreme form of abstraction divided critics: some praised the immediacy and fluidity of the creation, while others ridiculed the random effects. In 2016, Pollock's painting titled “Number 17A” reportedly fetched US$200 million in a private sale.
#3 Pablo Picasso - USD139.4 million
'Woman with a watch'
130 x 97 см.
Pablo Picasso's painting “Woman with a Clock” was sold for $139.4 million. This work, painted in 1932, depicts the artist's lover, Marie-Thérèse Walter, sitting in a chair with a clock on her lap. The painting is a striking example of Picasso's Cubist style, in which forms are distorted and presented from different perspectives, and colors are bright and contrasting.
Pablo Picasso's painting “Woman with a Watch” depicts the artist's lover, French model Marie-Thérèse Walter, holding a wristwatch in her hands. The painting was created in 1932 and is a portrait of Walter, who was Picasso's mistress at the time, although he was married to Olga Khokhlova.
Pablo Picasso's painting “Woman with a Clock” was sold at Sotheby's auction. The name of the new owner has not been disclosed. The painting previously belonged to American collector Emily Fisher Landau, who died in March 2023. Sotheby's auction house was granted the right to sell part of her collection, which includes about 120 works, according to the BBC.
#4 Gustav Klimt - USD180 million
80x145 cm, Oil on Canvas
Gustav Klimt's painting “Water Serpents II”, painted between 1904 and 1907, depicts several women surrounded by water, who resemble snakes or mermaids. Their bodies are intertwined, creating a sense of movement and fluidity, and their hair is adorned with marine elements such as shells and seaweed. The painting is believed to express the idea of sensuality and beauty of the female nature, as well as symbolizing the connection between women and the water element.
The painting is filled with water elements, including sea vegetation, algae, and shells, which adorn the women's hair and create the feeling of an underwater world. Thanks to its ornamentation and patterns, the painting has a “degree of eroticism” and also contains elements of symbolism.
Overall, “Water Snakes II” is a work that can be interpreted as a symbol of female beauty, sensuality, and connection to the water element, while not lacking elements of eroticism and symbolism.
#5 Mark Rothko - 180 million
Size: 240 x 290 см, 1951
Mark Rothko's painting “No. 6 (Purple, Green, and Red),” sold for $186 million, is an abstract canvas consisting of large rectangular fields of purple, green, and red. The painting is currently owned by Russian billionaire Dmitry Rybolovlev, who purchased it in 2014.
The artist himself positioned his works as ones that “open up a journey into unknown worlds.” Whether you agree or disagree is entirely up to you. It is also known that the artist's style coincides with that of Willem de Kooning and Jackson Pollock — abstract expressionism. Mark Rothko also emphasized that in the process of painting, he always sought to convey emotions in moments of intense experience.
#6 Pablo Picasso, 1955 - $179.4 million
Size: 114 x 146.4 см
The painting “Algerian Women, Version O” by Pablo Picasso, sold for $179.4 million, currently appears to belong to an unnamed buyer, presumably the Emir of Qatar, according to La frimeuse. This work is part of a series of 15 paintings inspired by Eugène Delacroix's “Algerian Women.”
The painting depicts several women in an interior reminiscent of a harem, with elements of Cubism. The canvas is dominated by bright colors and geometric shapes characteristic of Picasso's late Cubist period.
#7 Amedeo Modigliani - USD 170.4 million
Year of origin: 1917-1918
The painting “Reclining Nude” by Amedeo Modigliani, depicts a fully nude woman lying on a red sofa with a blue pillow. This is a typical Modigliani subject, where he emphasizes the beauty and fluidity of the female body, often in a pose reminiscent of classical antique sculpture. In this particular work, the artist highlights the contrast between the warm tone of the model's skin and the cool colors of the sofa and pillow.
The painting belongs to the nude genre, which Modigliani often explored, but his works always have a touch of elegance and refinement. Modigliani's works are often compared to ancient sculpture; he sought to convey the beauty and harmony of the human body.
The painting is one of Modigliani's most famous works and marks the peak of his career, when his works began to fetch very high prices at auction.
#8 Edward Munch - USD 119.9 million
Year of Origin: 1893
Oil, tempera, pastel, and crayon on cardboard
"The Scream" is a powerful and iconic painting by Norwegian expressionist artist Edvard Munch, created in 1893. It depicts a figure on a bridge against a swirling, blood-red sky, experiencing a profound sense of existential dread and anxiety. The painting is renowned for its emotional intensity and its ability to convey universal feelings of fear, alienation, and the human condition.
Munch described the inspiration for "The Scream" as an experience during a sunset walk where the sky turned a dramatic, blood-red color, and he felt an overwhelming sense of anxiety and an "infinite scream passing through nature". The painting is part of Munch's "Frieze of Life" series, which explores themes of love, life, and death.
“The Scream” exists in multiple versions, including paintings and lithographs, each offering a slightly different perspective on the iconic scene.
Today, Edvard Munch's painting “The Scream” is in a private collection. American investor Leon Black purchased it at auction in 2012. It is one of four versions of the painting created by the artist between 1893 and 1910.
There are four versions of the painting “The Scream.”
One of them, sold to Leon Black, was the only one in a private collection.
The auction at which the painting was sold took place in New York.
At the auction, the painting was sold for a record sum at the time—US$119,922,500.
Earlier, this version of the painting was purchased by Norwegian billionaire Petter Olsen from Munch himself.
Olsen Sr. was one of the artist's close friends.
#9 Jackson Pollock - USD 140 million
243,8 × 121,9 cm
Spraying paint onto fiberboard (wood fiberboard).
Jackson Pollock's painting “No. 5, 1948” is an abstract canvas created using the technique of splattering paint. There are no specific images in the painting; it is a chaotic interweaving of gray, brown, white, and yellow lines and splashes of paint, creating an impression of dynamism and movement. The painting was created in 1948.
An abstract painting, abstract expressionism, chaotic overlapping lines and splashes of paint, dominated by gray, brown, white, and yellow colors.
The painting was sold in 2006 at a private auction to Mexican collector David Martinez.
#10 Willem de Kooning - USD 137.5 million
Woman III
175 x 124 sm, 1953
Abstract expressionism
Willem de Kooning's painting “Woman III” was sold for $137.5 million. This work is one of the artist's most famous pieces, created in the abstract expressionist style. It was painted in 1953 and depicts a dynamic, colorful image of a woman.
“Woman III” is part of a series of six paintings in which de Kooning depicted women. These works, particularly “Woman III,” have been the subject of much debate and interpretation, but they are considered an important stage in the artist's career and in the history of art as a whole.
The painting was purchased in 2006 by American investor Steven Cohen.
#11 Andy Warhol - $105.4 million
“Silver Car Crash (Double Accident)”.
This work is part of Warhol's “Death and Disaster” series.
The painting features multiple repetitions of images of a car accident taken from newspaper photographs and printed on canvas using silkscreen printing with silver paint.
Silver Car Crash (Double Accident) was sold at Sotheby's auction in 2013 for $105.4 million, making it one of Warhol's most expensive works.
The work, created in 1963, depicts a mangled body in a wrecked car interior, with repeated images placed next to an empty silver canvas.
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