I found this dining room image at Architectural Digest. The wall behind the table has a high impact but look closer, it is a very simple design.
An iron curtain rod hung high on the wall with a tab top curtain(s) in a basic fabric is used as the back drop. The images are hung using a series of hooks or chain to suspend them from the rod.
The main piece of art is the painting in the middle. You could use a featured piece of art or even an art poster if it was well framed. The surrounding frames appear to have photos or ink drawings. All of this could be done on a theme such as one main work of art by an artist and then use smaller prints from the same artist in the other frames.
This would also be easy to do with a group of frames from a thrift store painted black and filled with small prints, art images scavenged from a calendar or cards with art fronts.
Image: Architectural Digest