A painting that can be considered a masterpiece or prize winning should
have an interesting and well crafted subject. It should also have a
strong composition or coordinating aspects throughout the painting. That
simply means that the placement of objects or subjects throughout the
painting are pleasing to the eye and are arranged well, and the colors
compliment the overall subject or help rather than hinder the overall goal
of the painting and what it intends to portray, composition is key.
After that, shading and highlighting techniques add to the depth and
separate beginners levels from advanced skill levels. At this stage, it's
all a matter of how skillfull the artist is with their brushes and pallet.