Observe · Regulate · Protect — since 2007. 19th OIMAP General Assembly: Singapore, 10–12 June 2026. Programme
Market

Modern painting

The modern painting market (1860–1945): avant-gardes, signature, series and vigilance over fakes.

Updated : October 28, 2026· 3 min read

The segment of the big names

River Landscape with Boats, Annibale Carracci (c. 1590)
River Landscape with Boats, Annibale Carracci (c. 1590)

Modern painting, from 1860 to 1945, accounts for €9.3 billion in 2024: it is the largest share of the painting segment. The median price is €12,700 and the index rises by 5.4%.

It covers late impressionism, post-impressionism, fauvism, cubism, expressionism, abstraction and surrealism. Its artists are among the most famous on the world market.

This fame has a downside: modern painting is the segment most exposed to fakes.

  • Modern
  • Fakes
  • Authenticity

Modern painting in figures

€9.3bnVolume
€12,700Median price
+5.4%Index change
1,780Certificates of authenticity in 2024

Source: OIMAP Observatory.

Breakdown

Cubism and abstraction27%
Fauvism and expressionism23%
Surrealism19%
Post-impressionism21%
Other movements10%

Share of the segment's volume.

Why fakes are numerous there

The value of signatures, the relative ease of imitating certain styles and the multiplicity of works on paper create fertile ground for fakes. Artists produced dozens of variants of the same subject, which makes distinction difficult.

Experts rely on catalogues raisonnés, the artist's archives, pigment analysis, which makes it possible to identify anachronisms, and study of the support and the frame. A pigment invented after the artist's death is enough to disqualify a work.

The Brook, Paul Cezanne (c. 1895–1900)
The Brook, Paul Cezanne (c. 1895–1900)
Portrait of a Man, Louis Lafitte (1793)
Portrait of a Man, Louis Lafitte (1793)
The Departure of Saints Paula and Eustochium for the Holy Land, Giuseppe Bottani
The Departure of Saints Paula and Eustochium for the Holy Land, Giuseppe Bottani

Artist committees and catalogues

For modern painting, the opinion of the artist's committee, often made up of rights holders, is an important element. These committees sometimes hold positions that diverge from those of independent experts, which can create deadlocks.

In that case, OIMAP's opinion is reasoned in writing, with the evidence that supports it. It can be set against the committee's before the Arbitral Tribunal. This procedure has been used in twelve cases since 2019.

Provenance and studios

A modern painting whose provenance goes back to the artist's studio, a famous gallery or a major collector benefits from a premium. Gallery archives, account books, studio photographs and correspondence are valuable sources.

OIMAP digitises gallery archives and makes them available to accredited experts. This documentary base has made it possible to dispel doubt in 340 cases since 2020.

The movements of modernity

Movements and prices
MovementPeriodMedian price2024 change
Post-impressionism1880–1910€18,900+4.7%
Fauvism and expressionism1900–1930€14,200+5.6%
Cubism and abstraction1907–1945€16,300+6.2%
Surrealism1924–1945€11,700+6.8%

Landmarks

  1. Fauvism

    Scandal of the Salon d'Automne.

  2. Cubism

    Birth of the movement.

  3. Global market

    Rise of public sales.

  4. €9.3bn

    Up 5.4%.

A pigment that gives the game away

Unique work or work in a series

Still Life with Peaches, Auguste Renoir (1881)

Unique work

Oil painting
  • High price
  • Authenticity to prove
  • Provenance decisive

Collectors' market.

Portrait of Isabella Brant, Peter Paul Rubens (c. 1620–25)

Work on paper

Gouache, drawing, watercolour
  • More affordable price
  • Frequent fakes
  • Delicate conservation

Entry-level market.

Alpine Landscape:  The Handegg, Switzerland, Jean-Léon Gérôme (1850s)
Alpine Landscape: The Handegg, Switzerland, Jean-Léon Gérôme (1850s)
Adoration of the Shepherds, Bernardo Cavallino (c. 1650)
Adoration of the Shepherds, Bernardo Cavallino (c. 1650)
Portrait of a Woman, Corneille de Lyon (c. 1540)
Portrait of a Woman, Corneille de Lyon (c. 1540)

Securing the purchase of a modern work

  1. Check

    Consult BIOP, committee and catalogue.

  2. Analyse

    Pigments, support, frame.

  3. Document

    Provenance since the studio.

  4. Certify

    OIMAP certificate of authenticity.

  5. Register

    Work passport.

Precautions to take

A modern painting expert

Sports on a Frozen River, Aert van der Neer (ca. 1660)
« When a work that looks too good suddenly appears with no history, you must always ask where it comes from. »
Dr. Amara N'Diaye, expert

Vocabulary

Fauvism
Movement of pure colour.
Cubism
Movement of the decomposition of forms.
Surrealism
Movement linked to the unconscious and to dreams.
Titanium white
White pigment that appeared in the 20th century.

Frequently asked questions

Are fakes frequent?

About 7% of modern paintings submitted for expert examination in 2024 were refused.

What should be done if the artist's committee refuses?

An arbitration procedure is possible: see arbitration.

Is a work on paper safer?

No, it is on the contrary more forged.

Where can I report a fake?

Useful documents

Contacts

The Old Market, Cleveland, Frank Wilcox (1920)
The Old Market, Cleveland, Frank Wilcox (1920)
OIMAP ObservatoryParis — Headquarters+33 1 00 00 01 00observatoire@oimap.exampleMonday to Friday, 9 am – 5 pm

Discover contemporary art

Still Life with Vegetables, Partridge, and a Jug, Adolphe-Félix Cals (1858)

The most dynamic segment.

Contemporary art
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