You may hear some individuals use the terms "contemporary" and "modern" interchangeably. In some cases, this use of the words is perfectly acceptable. In art, however, contemporary and modern works mean two separate things. You can also browse this site if you want to purchase modern art paintings online.
If you've ever been confused about the differentiation, here is a good way to look at the two painting concepts:
Image source: Google
Contemporary art is used to describe works made recently. Some art historians will define contemporary paintings as works that extend back to World War II, while others believe it includes works created or accepted within the last ten years.
The artists may still produce artworks today, using the latest trends and techniques for painting. Generally, classification is a catchall term for the art of today. In the future, people may look back paintings produced today and give them a new name, but contemporary art serves as a place for anything that has been recently produced.
Although the museum of modern art, including the art, is really modern, it also often features a contemporary display, making differentiation between the two is very confusing. Modern painting is defined in the art world as paintings produced between 1890 and 1965.
The era of modern art overlaps with impressionism when artists began to throw tradition besides supporting radical experimentation in their representation. History books often define the era of modern art as early as an impressionist and stopped producing.