We've known a couple of people throughout the years that were very supportive of what we'll call a pretty strict view on room color palettes versus art color palettes: they felt a room's art should match the colors that are already in the room.
When you're faced with a space that already has a lot of good colors, it can be easy to think of those when selecting art. And why not? If the colors in your art collection match the colors in your furnishings, textiles and accessories, then there's no doubt that all elements will complement one another and not much chance any will fight.
Of course, being bold enough to put a piece of art in a space that is of a color that doesn't exist in your space yet has its merits, like being dramatic and making a big statement. Having art that doesn't have any room color precedents can lead to a layered, sophisticated space with a lot of interesting interactions.
What camp do you fall into? Does your art only contain the colors of the rest of your space? Maybe one or a couple colors from the space in the art (the camp we imagine many folks will fall in)? Or did you choose a dynamic piece of art that introduced a whole new color scheme? What were your color intentions with your art collection and the rest of the space? (And should you be looking for some art color inspiration: Art by Color)