The Artist's Beanie Auction meme serves as a sharp satirical critique of the subjective nature of value in the modern art market and collector culture. It typically depicts a mundane object—specifically a worn beanie—being presented as a high-value masterpiece to an eager crowd of bidders. This template gained traction as a way to mock the perceived pretentiousness of high-society art events and the skyrocketing prices of minimalist installations or conceptual pieces. Users often swap out the beanie for other everyday items to highlight the ridiculousness of hype-driven economies and the often-confusing logic behind what constitutes fine art in the digital age.