Copyright. All material appearing is
Cosmic 100 is copyright and may not be
reproduced without permission in writing
1 FRONT COVER
2 CONTRIBUTIONS & CONTENTS
3 FROM THE CEO ROBERT STAR—BACK TO GOLD!
4 FROM THE CEO - “THE DEAL OF THE ART”
5-19 ARTPRICE 2019 1ST HALF REPORT
20 1ST YEAR CELEBRATION OF RETROSPECTIVE NEW YORK
21 “THERE ARE NO FAKES” - EDITOR
22 ALICE WALTON - FOUNDER CRYSTAL BRIDGES MUSEUM
23 NINO BARETTE— ART CRITIC
24 “THE LAST WIZARD” - DAMIAN CHAPA & ERIC ROBERTS
25 MARCH 2019 — AS REPORTED BY ARTPRICE.NET
26 STEVE MCQUEEN PAINTING STILL MISSING
27 $6 MILLION COSMIC COWBOY BOOTS
28 $50 MILLION OPPORTUINITY
29 COSMIC ‘X’ BOOK NOW AVAILABLE
30 $100 BUGATTI CAR—2020
31 COLLECTOR DONNY YORK
32 ABOUT JACK ARMSTRONG— COLLAGE
33-37 ARMSTRONG PAINTINGS
38-40 THE LAST WIZARD - $50 MILLION DOLLAR INVESTMENT
41-47 ARMSTRONG PAINTINGS
48-52 ART & MUSEUM INTERVIEW
53-55 ARMSTRONG PAINTINGS
60 ARMSTRONG’S STARMETER ROCKETS.
61 COSMIC HARLEY BACK ON THE MARKET $35m
62 BACK COVER— LA FEMMEGODDESS
THIS LIMITED EDITION 1000 SERIES MAGAZINE
CONTAINS ALL OF ARMSTRONG’S PAINTINGS. THE
FIRST 100 ARE RESERVED FOR OWNERS OF HIS
PAINTINGS THE OTHER 900 ARE AVAILABLE FOR
WORLDWIDE DISTRIBUTION. DESTINED TO
BECOME A COLLECTORS PIECE THE PRICE OF $100
Artprice published its report for the first half of this year. The report is reprinted in the next few
pages for your convenience. You can also check it out on their website at https://www.artprice.com/
artprice-reports/global-art-market-in-h1-2019-by-artprice-com. This website has excellent content.
The main takeaway is the stronger demand for Contemporary art than in the same period in 2018.
This was despite an overall contraction in the market $6.98 billion down 17.4% versus H1 2018. You should
check out the full report for a more meaningful understanding of the numbers.
This increased demand is important for the extremely limited Cosmic X art of Jack Armstrong. Prior to the
report, he increased the prices of his art in a very dramatic fashion. He also totally realigned his prices,
increasing one of his signature paintings, ‘Warhol Naked’, his tribute to his erstwhile friend Warhol, who
called him the Last Wizard of Art, to the lofty price of $110 million. It is a unique and most striking tribute
painting to his friend and is featured on the front cover of our limited edition magazine “Cosmic 100”.
These dramatic price increases may appear crazy to some given that there is no published price
history as all sales, to date, have been private. The secondary market will soon evolve at which time
collectors and investors in his art will be sitting on a fortune as the established art world scrambles to get
hold of any of Armstrong’s 100 Cosmic paintings. The ongoing quality promotion by Star Global, In
particular our New York’s, Times Square digital retrospective now going into its 2nd year, is a catalyst to
higher asking prices. No living artist has ever had this consistent high level of publicity and exposure. You
can always make an offer although my guess is he is saving this masterpiece for his dream of his own
museum. “You can always remake the money but you can never remake the art.”
This idea of the digital retrospective was conceived and produced by Iain Hammer who is the marketing
genius behind the promotion. Iain says, “This is very much in line with our out of the box approach for
promoting the art of this artist who has stood out against the bad practices of some top galleries and
auction houses naming them the “Art Cartel”. Iain also produced the first compendium of Armstrong’s
entire 100 paintings. This Limited Edition 1000 series magazine is the first reference book showing all his
work in one published document and features “Warhol Naked” on the front cover.
We are always happy to answer any questions you may have and we do have instructions on two
paintings from one of the collectors. The first public sale will make art history as well as a fortune for the
buyer. The sky is the limit.
This art is better than gold and the reason we have returned the golden cover to our magazine.
The art market is a multi-billion dollar market worldwide and has in the last few decades seen a meteoric
rise in value. As governments print more and more fiat so the value of unique art rises. Art has become an
asset class in its own right with many companies creating art funds and banks more flexible on loans
against art as collateral. It has been referred to as the last truly unregulated market. Despite fakes and
price manipulation by dealers, galleries and auctions the art market has roared to new heights and more
than 50% of all art is now sold privately. Auction prices have been suspect over the years because of shill
bidding. In many cases the bidders are never made public. Of course it’s highly illegal. Past law suites and
prosecutions have been well documented. Even the artists themselves have been known to fictionalize their
sales as private buyers often do not wish to disclose what they’ve paid. At the higher values of art the top
galleries emphasize the legend of the artist and buyers are intimidated by sophisticated, well accented
salespersons hyping their particular favorite artists. The sales people are trained to make you feel inferior
and find out the depth of your pocket before they will even discuss the art. Art has it’s snob value and it’s
still very much caveat emptor. However things are changing as more and more millionaires are surfacing
who recognize original art for both its intrinsic beauty and profitable. They’re nobody’s fools.
We pride ourselves in selling only certifiable original art. Having an artist with a very low production
number reduces opportunity for fraud. There are millions of really great artists most of whom will never
reach the dizzy financial status of artists like Jeff Coons, Damien Hirst, Cy Twombly and Rothko. Artists need
sponsors to promote them. Jackson Pollack had Peggy Guggenheim and Basquiat had Madonna. Andy
Warhol struggled for years until the Campbell Soup can, which prompted the comment that “If this is art,
this is the end of Art”, projected him to art stardom. Prices take off meteorically after the artist passes
away. The success of a particular artist is very dependent on marketing. Scarcity is another major factor in
the value. The “story” of the artist and what statement is made by the art is also important.
Andy Warhol’s soup can prompted me in 2010 to conceive the “Million Dollar Harley” to bring Armstrong,
onto the world stage. This Harley Davidson, painted by him, quickly became the most expensive motorcycle
in the world. While it appears currently to have disappeared into the cosmos, it is still being feted across the
entire world. A simple google search reveals copious entries referencing the Cosmic Harley in many
different languages. I fully identified with Armstrong’s stand against the art establishment’s questionable
practices calling them the art cartel. Of course this excluded him from the traditional selling platforms.
Sentiment is moving more and more towards private sales bypassing the art establishment.
Armstrong is confident that his art will reach the values of his erstwhile colleagues from the 80’s and
believes he will see a $100 million sale of at least one of his paintings during his lifetime. Star Global
believes this is achievable not least because there are only 100 of his unique Cosmic X paintings but also
there can never be more than 100. Star Global continues to promote the art to the fullest extent possible
using somewhat unusual media. We are celebrating a 1 year retrospective of his work in New York’s, Times
Square and a limited edition Cosmic 100 published magazine. His works until 2014 could only be seen on
the internet unless you were lucky enough to obtain one of his three very limited and expensive special
coffee table books. Other promotions are currently ongoing and more are planned. Star Global’s limited
edition magazine is the only hard copy compendium of his entire 100 paintings still available at $100 each.
We have reserved numbers 1 to 100 for the owners of the paintings. To celebrate this 1st year of our digital
retrospective we persuaded one of our collectors to allow the sale of 2 original Armstrong Cosmic paintings
for a limited period. This could be the opportune moment to make a valued purchase.
With the collaboration of its Chinese State partner AMMA (Art Market Monitor of Artron), Artprice has identified
262,300 Fine Art lots (+0.1%) sold via public auctions around the world in the first half of 2019. Together these transactions
generated a total of $6.98 billion, down 17.4% versus H1 2018.
However, Artprice’s price index calculation, based on our ‘repeat sales method’, shows a 5% increase in art prices.
Against the backdrop of a banking sector operating in a negative or near-zero interest rate environment, art has
become an excellent investment and this will no doubt add momentum to the expansion of the Art Market.
“We are seeing a tightening of the balance between supply and demand in the Art Market,” explains thierry Ehrmann,
“The results show persistent demand for museum-quality works, but the secondary market’s supply has tightened
somewhat. The Art Market – as we have known it since 1975 – appears to be reaching its structural limits: auction
houses are struggling to maintain their operating margins and also to convince collectors to sell their best pieces.
They are constantly increasing their buyer fees while simultaneously inventing new ways of reassuring sellers. Guarantees
can encourage some sales, but this mechanism doesn’t represent a global solution. It’s time for the Art Market
to start a new digital era”.
The recent acquisition of Sotheby’s and Artprice.com’s metamorphosis into Artmarket.com (its new company
name submitted to the Extraordinary General Meeting) are two changes that clearly reflect the Art Market’s entry
into the age of the Internet.
H1 2019 H1 2018 Change (%)
Turnover $6,980,144,500 $8,445,850,000 -17.4%
Best result $110,747,000 $157,159,000 -29.5%
Average price $26,600 $32,200 -17.4%
Median price $970 $1,030 -5.8%
Sales sessions 3,500 3,800 -7.9%
Sold lots 262,300 262,100 0.1%
Unsold rate 40% 39% 1.6%
© AMMA & Artprice.com
• Turnover in the USA (-20%), China (-12%) and the UK (-25%) has contracted
• The number of lots sold between $10 and 100 million dropped by 41%
• Top quality Modern (-21%) and Old Master (-38%) works in short supply
• Claude Monet dominated the H1 2019 with 23 works sold for €251 million
• Contemporary Art prices posted an increase of +40%
• New record for a living artist: Jeff Koons’ Rabbit (1986) fetched $91 million
• Average annual return works out at +4.6% on an average holding of 13 years
Wassily Kandinsky – Vertiefte Regung (1928)
$5,682,500 – on 5 May 2010, Sotheby’s New York
$6,410,000 – on 5 November 2015, Sotheby’s New York
$8,072,000 – on 28 February 2019, Sotheby’s London
The art market’s figures for the first half of 2019 reveal a paradox: sales volumes fell 17.4% while the overall price
index rose 5%. In other words, the prices of artworks rose while the market contracted. However, the lower sales
revenue was not attributable to a fall in the number of transactions, which remained almost perfectly stable; the
contraction in turnover therefore essentially reflected the type and quality of the works offered during the semester.
The first half of 2018 received a major boost from the Rockefeller collection sales, the evening session of which
generated $646 million from just 44 lots sold. By comparison, the most profitable sale during H1 of this year (in
turnover terms) was Christie’s Contemporary & Postwar Art session of 15 May 2019 in New York which generated
$538 million from 58 lots sold.
Throughout the first half of 2019, we have seen a relative dearth of Modern Art masterpieces which normally
make up the heart of the high-end market.
Encouraged by a strong economic situation along with negative or close-to-zero refinancing rates, the demand
for artworks has continued to grow, while the supply has contracted. Some collectors are clearly reluctant to sell
works they believe are bound to increase in value in the coming years; especially as transaction costs remain particularly
high, via both auction sales and galleries.
Works capable of fetching above $100 million are nowadays an essential part of the art market, but, being so rare,
their annual or semi-annual contribution is somewhat fragile. In H1 2018, two works exceeded this threshold: Pablo
Picasso’s Fillette à la corbeille fleurie (1905) and Nu couché (sur le côté gauche) (1917). The first was part of the legendary
Rockefeller Collection, the dispersion of which was dubbed the “Sale of the Century”. The second was sold to a
In H1 2019, the only artwork to reach the $100 million threshold was Claude Monet’s Meules (1890)… and that new
record was more-or-less expected given the steady progression of Claude Monet’s prices. Nonetheless, in a long-term
perspective, the value accretion of Meules (1890) is remarkable. The work has posted an average annual yield of +12%
since its was last sold publicly in 1986, at Christie’s in New York, rising from $2.5 million thirty-three years ago to
$110.7 million this year.
The private sale – two days before its scheduled auction in Toulouse – of the Judith and Holofernes attributed to Caravaggio
and estimated between $100 and $150 million, illustrates the fragility of the high-end art market. In statistical
No of lots sold per price range
H1 2019 H1 2018 Change (%)
≥ $100 million 1 2 -50%
$10 – 100 million 63 106 -41%
$5 – 10 million 100 122 -18%
$1 – 5 million 683 786 -13%
$500,000 – 1 million 778 883 -12%
$100,000 – 500,000 4,896 5,369 -9%
$50,000 – 100,000 4,909 5,443 -10%
$5,000 – 50,000 44,203 47,609 -7%
The major auction houses are increasingly looking for ways to entice vendors, and this usually involves offering
some form of price guarantee. But these arrangements expose them to greater risks and end up reducing their operating
margins. Moreover, the guarantees actually distort the natural balance between supply and demand.
At Art Basel 2019, Bloomberg reporter, Katya Kazakina, noted that Peter Doig’s “The Architect’s Home In the Ravine”
was being offered at the Gagosian for $25 million. As Artprice observed in its latest 2018 Contemporary Art
Market Report, the work has been auctioned no less than five times in less than 20 years, including twice in the past
three years, pushing Doig’s prices up at an impressive pace:
• $474,800 – 26 June 2002, Sotheby’s London
• $3,624,000 – 15 May 2007, Sotheby’s New York
• $11,975,900 – 13 February 2013, Christie’s London
• $16,346,100 – 11 February 2016, Christie’s London
• $19,958,600 – 7 March 2018, Sotheby’s London
According to Bloomberg, investor Abdallah Chatila placed an irrevocable bid at the last sale of this canvas at Sotheby’s
in exchange for a $1 million fee. As his bid was the only bid, he ended up owning a painting he was not particularly
keen on keeping. So, a year later The Architect’s Home in the Ravine was put on sale again at Art Basel …
and its value continues to climb.
This anecdote illustrates the importance for the entire Art Market of works priced above the one-million-dollars
threshold at auction. They represent recognition for artists, galleries and collectors, as well as very lucrative transactions
for auction houses. However, the number of lots sold in this price range suffered a very sharp contraction in
Claude Monet – Meules (1890)
$110,747,000 – 14 May 2019, Sotheby’s New York
Claude Monet – Meule (1891)
$81,447,500 – 16 November 2016, Christie’s New York
The New Classics of Contemporary Art
So far this year Modern art – which has driven the high-end art market over the last twenty years – has played a
relatively diminished role in the market and, at the half-way point, is posting a -22% turnover contraction. There
were no major works by Pablo Picasso, Amedeo Modigliani or Alberto Giacometti on offer, each of whom has several
results above the $100 million threshold (including buyer fees) to his name (accounting for 9 of the 16 hammered
for works of Fine Art). Nevertheless, Modern Art remained the biggest segment of the art market in H1 2019.
Global Fine Art auction turnover by period of creation
In the absence of Modern masterpieces, demand turned to other signatures, other movements and other creative
periods. In the early part of the year we saw particular interest in London for several major 19th century signatures.
Nevertheless, the first half of 2019 was clearly dominated by Claude Monet. The year started badly when his Saule
pleureur et bassin aux nymphéas (Weeping Willow and Water Lily Pond) (1916-19) failed to sell at Christie’s on 27
February in London against an estimate of $60 million. But as things turned out, this failure contributed to the balance
between supply and demand, since of the 27 other Monet works offered in H1 2019, more than 85% found
buyers, generating a total of $251 million and making Claude Monet the world’s best performing artist in H1 2019,
ahead of Pablo Picasso and Zao Wou-Ki.
Even more surprising was a series of new auction records for Post-Impressionist artists, including Paul Signac,
Gustave Caillebotte, Pierre Bonnard, proving that the best canvases of this period are still very much in demand. For
his part, Paul Cézanne’s auction performance was the best for 20 years, with his second best-ever result at $59.3
million. The value of Bouilloire et fruits (c.1888-90) doubled since its last appearance in 1999.
Top 10 artists’ auction records hammered in H1 2019
Artist Work Price Sale
1 Claude MONET (1840-1926) Meules (1890) $110,747,000 14 May, Sotheby’s New York
2 Jeff KOONS (1955) Rabbit (1986) $91,075,000 15 May, Christie’s New York
3 Robert RAUSCHENBERG (1925-
Buffalo II (1964) $88,805,000 15 May, Christie’s New York
4 Louise BOURGEOIS (1911-2010) Spider (1997) $32,055,000 15 May, Christie’s New York
5 Frank STELLA (1936) Point of Pines (1959) $28,082,500 15 May, Christie’s New York
6 Paul SIGNAC (1863-1935) Le Port au soleil couchant
$25,934,244 27 Feb., Christie’s London
7 Gustave CAILLEBOTTE (1848-
Chemin montant (1881) $22,160,721 27 Feb., Christie’s London
8 Pierre BONNARD (1867-1947) Une terrasse à Grasse (1912) $19,570,000 13 May, Christie’s New York
9 BALTHUS (1908-2001) Thérèse sur une banquette
$19,002,500 13 May, Christie’s New York
10 KAWS (1974) The Kaws Album (2005) $14,772,677 1 Apr., Sotheby’s Hong Kong
Moreover, the market seems to have elected some new “classics” among exceptional works produced by Post-
War and Contemporary artists.
Jeff Koons’ Rabbit (1986) was probably the most striking example of how the major auctioneers (in this case Christie’s)
succeed in elevating certain artworks, made in the second half of the 20th century, to the status of veritable
masterpieces. This 1-meter high stainless steel sculpture (from an edition of 3 plus an artist’s proof) is the last
one still in circulation. Number 2 of the 3 produced, it was exhibited by Christie’s in an immaculate white room and
presented as “a chance to own the controversy”. Shortly after, it became the world’s most expensive work by a
living artist, having fetched the 20th best result ever recorded for a work of fine art in auction history.
Evolution of the record auction price for a living artist
In the absence of major works by Jean-Michel Basquiat, Andy Warhol or Jackson Pollock in H1 2019, the American
market turned its attention to a handful of other major signatures in its Art History… starting with Robert
RAUSCHENBERG. Following his death in 2008 and his MoMA retrospective in 2017, the US market was eagerly
awaiting a major work. The 243.8 x 183.8 cm oil-and-silkscreen-on-canvas, Buffalo II (1964) appears to capture
the political and social zeitgeist of America’s Kennedy years and it largely exceeded the estimates at Christie’s on
15 May 2019, fetching $88.8 million.
A new record was also hammered for the painter and poet Marsden HARTLEY, whose influence on American
painting is undeniable. His painting Abstraction (1912/13) – auctioned for the third time in 30 years – has shown
a steady value increase and is now clearly considered a ‘safe investment’ in the US art market:
• $ 1,155,000 – 3 December 1992, Sotheby’s New York
• $ 2,205,750 – 30 November, 2000, Sotheby’s New York
• $ 6,744,500 – 22 May 2019, Christie’s New York
Still in the United States… a giant Spider (1997) by Louise Bourgeois sold for $32 million, generating art history’s
second best-ever auction result for a female artist behind Georgia O’Keeffe’s Jimson Weed/White Flower No. 1
(1932) which fetched $44.4 million in November 2014.
The market for American abstraction continued to open up for the country’s female artists after the records in
May 2018 for Joan Mitchell ($16.6 million) and Helen Frankenthaler ($3 million). This year, the market pursued its
recognition of Lee KRASNER (Jackson Pollock’s partner) hammering a record of $11.7 million on 16 May at Sothe-
Top 10 Auction Records for Women Artists in H1 2019
Artist Work Price Sale
1 Louise BOURGEOIS (1911-
Spider (1997) $32,055,000 15 May, Christie’s New York
2 Lee KRASNER (1908-1984) The Eye Is the First Circle $11,654,000 16 May, Sotheby’s New York
3 Yayoi KUSAMA (1929) Interminable Net #4 (1959) $7,953,200 01 Apr., Sotheby’s Hong Kong
4 Elisabeth VIGÉE-LEBRUN
Muhammad Dervish Khan
$7,185,900 30 Jan., Sotheby’s New York
5 Julie MEHRETU (1970) Black Ground (Deep Light)
$5,631,700 1 Apr., Sotheby’s Hong Kong
6 Carmen HERRERA (1915) Blanco Y Verde (1966/67) $2,900,000 1 March, Sotheby’s New York
7 MI Qiaoming (1986) Buddha In The Dream (2018) $1,773,500 15 June, Hanhai Beijing
8 Monir FARMANFARMAIAN
9 Angelica KAUFFMAN (1741-
Untitled (2018) $1,082,900 11 Jan., Auction Tehran
Portrait of Three Children $915,000 30 Jan., Sotheby’s New York
10 LALAN (1921-1995) La lune est voilée (1974) $863,000 31 March, Sotheby’s Hong Kong
The auction records for women artists this year reveal a greater level of diversity than those for men, with half
being hammered for non-European/American artists. Julie Mehretu, who today lives and works in New York, but
was born in Addis Ababa, Ethiopia. Although her work has never been shown in Asia, she generated a superb
new record in Hong Kong, a few months ahead of her first major retrospective, scheduled for summer 2020 at
the Whitney Museum in New York.
Leng Jun – View of the world No.3 ( 世 纪 纪
景 之 三 ) (1995)
© Leng Jun
$6,330,000 – 3 June 2019, China Guardian
$4,054,000 – 22 December 2016, Poly
Soft Power: the contraction benefits Hong Kong
In H1 2019, secondary market Fine Art turnover shrank in nearly all of the world’s major marketplaces. Germany
posted a stable figure… but it accounts for just 2% of global turnover. China, the United States, England, France and
Italy are all facing roughly the same challenge: how to maintain the intensity of transactions in the high-end market.
Sotheby’s and Christie’s, which are present in each of these countries, have not yet decided to concentrate their
best lots on their key markets… but that might become necessary. In the West, that would lead to an even greater
domination of the market by New York and London, which could, in turn, be detrimental to Paris and Milan. Their
London based Italian sales have already ‘transferred’ a significant share of the Italian market to England. In this context,
the outcome of the Brexit deadlock is bound to have an impact.
H1 2019 H1 2018 Change (%)
1 United States $2,677,835,000 $3,346,268,000 -20%
2 China $1,762,875,000 $1,997,226,000 -12%
3 United Kingdom $1,408,229,000 $1,866,638,000 -25%
4 France $329,649,000 $376,738,000 -12%
5 Germany $131,567,000 $128,470,000 2%
6 Italy $108,473,000 $121,590,000 -11%
7 Switzerland $70,280,000 $76,974,000 -9%
8 Japan $52,772,000 $68,668,000 -23%
9 Austria $49,983,000 $54,216,000 -8%
10 Australia $32,264,000 $33,563,000 -4%
11 India $29,845,000 $38,352,000 -22%
12 South Korea $29,842,000 $35,838,000 -17%
13 Belgium $29,820,000 $38,757,000 -23%
14 Czech Republic $29,145,000 $23,527,000 24%
15 Sweden $28,072,000 $24,515,000 15%
© AMMA & Artprice.com
Posting a 4% increase in turnover versus the same year-earlier period, the Hong Kong marketplace
actually grew while all its global competitors contracted. Generating an auction total of $700 million
in H1 2019, Hong Kong was looking stronger than ever… at least until the political tensions that
erupted again in June. It is now Asia’s leading art market hub, accounting for up to 40% of the Chinese
art market. Its growth has essentially been driven by Contemporary Art sales which posted a
56% increase in turnover, taking the city a good step further towards competing directly with London
and New York… even with respect to new stars in the Western art market
Geographical distribution of the turnover for the top 20 artists in H1 2019
Artist Turnover New York London Beijing Hong Kong
1 Claude MONET (1840-1926) $251,165,100 67 % 31 % 0 % 1 %
2 Pablo PICASSO (1881-1973) $243,085,600 65 % 31 % 0 % 0 %
3 ZAO Wou-Ki (1921-2013) $155,827,800 0.1% 0 % 7 % 76 %
4 Andy WARHOL (1928-1987) $148,977,700 85 % 8 % 0 % 1 %
5 ZHANG Daqian (1899-1983) $110,686,700 1 % 3 % 42 % 53 %
6 Jeff KOONS (1955) $103,501,700 93 % 6 % 0 % 0.1%
7 Paul CÉZANNE (1839-1906) $98,418,200 71 % 29 % 0 % 0 %
8 WU Guanzhong (1919-2010) $95,895,200 1 % 0 % 47 % 52 %
9 Francis BACON (1909-1992) $93,626,300 69 % 30 % 0 % 0 %
10 Robert RAUSCHENBERG (1925-2008) $90,964,400 99 % 0 % 0 % 0 %
11 David HOCKNEY (1937) $88,956,700 26 % 72 % 0 % 0 %
12 Roy LICHTENSTEIN (1923-1997) $85,324,300 69 % 26 % 0 % 4 %
13 Amedeo MODIGLIANI (1884-1920) $85,051,900 71 % 28 % 0.1% 0 %
14 Mark ROTHKO (1903-1970) $79,994,500 100 % 0 % 0 % 0 %
15 René MAGRITTE (1898-1967) $76,110,700 4 % 84 % 0 % 9 %
16 KAWS (1974) $70,047,900 30 % 11 % 0 % 54 %
17 Jean-Michel BASQUIAT (1960-1988) $65,796,000 42 % 57 % 0 % 0.2%
18 Gerhard RICHTER (1932) $63,301,200 24 % 67 % 0 % 5 %
19 Yayoi KUSAMA (1929) $60,714,600 18 % 3 % 5 % 50 %
20 Marc CHAGALL (1887-1985) $56,071,000 46 % 37 % 0,2% 0 %
This was the case on 1 April for the American street artist Kaws, whose painting The Kaws album (2005) generated
a truly spectacular result at Sotheby’s Hong Kong by fetching $14.8 million, no less than 15 times its high estimate.
Kaws prices have been growing exponentially over the last two years, especially since his market has
attracted collectors from New York, London and Hong Kong.
The English sculptor Tony Cragg also reached a new and quite unexpected auction record in Hong Kong. His stainless
steel piece Untitled (2008) fetched close to $1 million on 27 May 2019 at Holly International. Founded in
1994 in Guangzhou, the Chinese auction house organized its first sales in Hong Kong in H1 2019. It joins the prestigious
Chinese operators, Poly and China Guardian, as well as the Korean company, Seoul Auction. The latter
hammered its best result of the first half in Hong Kong at $7.2 million for Le chant des sirènes (1953) by the Belgian
Surrealist René MAGRITTE.
At the same time, Hong Kong manages to attract the best of Chinese artistic creation. Zao Wou-Ki generated the
best H1 result for the entire Asian continent in Hong Kong; 53% of Zhang Daqian’s turnover was hammered
there, and lots of new new Contemporary Chinese painters have received market exposure in the city. On 1 April
2019, we saw a new auction record for HAO Liang (1983) at Sotheby’s in Hong Kong when his ink-on-silk paper
Top 10 Auction Records for Women Artists in H1 2019
Lastly, the strength of the Hong Kong marketplace has much to do with its domination of a vast international geographic
region which allows it to capture the best works from the whole of Asia. H1 2019 was notable for the $6.8
million sale of Untitled (1971) by the Korean abstract painter Whan-Ki KIM on 26 May 2019 at Seoul Auction. Hong
Kong also recorded significant new records for the ultra popular Japanese artist Yayoi KUSAMA, Yoshitomo NARA
and the young Ayako ROKKAKU at respectively $8 million, $4.4 million and $151,300.
Hong Kong now plays an essential role in Asia’s art market offering not just the best of Chinese art, but also the
best works from the rest of Asia. And it is now also a gateway to China for the Western art market.
This was perfectly illustrated in H1 2019 by the latest auction record price for a work by the German artist Anselm
Kiefer, hammered – astonishingly – in Beijing at a sale that was mediated via Hong Kong. His painting The fertile
crescent (2009) reached $4 million in the Chinese capital on 3 June 2019. The sale catalogue stipulated that the
work could not be brought into mainland China without incurring customs duties of approximately 25%. The lot
was therefore to be collected in Hong Kong
Collective Work / thierry Ehrmann, The Abode of Chaos – Anselm Kiefer (2019)
Art’s financial performance attracts investors
Based on 1,850 works previously acquired at auction and subsequently resold by the same channel during the
first half of 2019, Artprice has calculated an annual yield of +4.6% for an average holding period of 13 years. Of the
total number of works, 51% posted a price increase and 48% dropped in value (1% remained stable).
Meanwhile, the Artprice100© index rose +16% in the first half of 2019. A virtual portfolio consisting of the top
100 performers on the global auction market between 2014 and 2018, weighted for the relative magnitude of their
turnover totals, this index outperformed the entire market notably thanks to exceptional results for Fu Baoshi and
Wu Guanzhong in China, and for Robert Rauschenberg, Frank Stella and Martin Kippenberger in the West.
Our Contemporary Art price index climbed an impressive 40%. The auction performances of Jeff Koons, Peter
Doig and Keith Haring gave the Contemporary segment the strongest growth of all segments in H1 2019. Over the
long term, the financial performance of Contemporary Art is on a par with that of the US stock market… and Sotheby’s
Artprice’s Contemporary Art Price Index vs. financial market
The most spectacular single-piece value increase in H1 2019 rewarded a sculpture from the series Pumpkin (1998)
by Japanese artist Yayoi Kusama. Fetching $156,000 on 23 April 2019 at Phillips in New York, the piece, numbered
31/100, is a minor work by a major artist who has just recorded a new auction record at $8 million. But the seller acquired
it 10 years ago at Christie’s in London (2009) for just $5,800 … one twenty-sixth of its current value.
This operation corresponds to an average annual return of +39% over ten years. By comparison, Apple’s share
price (NASDAQ: AAPL) grew +26% per year over the same period, and the S&P 500 by +12% p.a..
Auction prices of Yayoi Kusama’s Pumpkin (1998) (edition of 100)
Auction prices of Yayoi Kusama’s Pumpkin (1998) (edition of 100)
Sotheby’s withdraws from public scrutiny…
It’s a relatively common situation: an entity takes control of a company it considers to be underperforming… But
the takeover of Sotheby’s – one of the world’s two giants of Fine Art sales, present in nine countries and alone generating
31% of global Fine Art auction turnover – illustrates a dilemma facing the entire auction industry.
From a technological point of view, the Art Market is several decades behind the rest of the economy. The rare
attempts to bridge the gap (like the David Zwirner gallery’s “Basel Online” project) only serve to further highlight the
difficulties the market’s big players are having migrating to an online environment. In 2017, Sotheby’s decided to
eliminate buyer fees on its online sales, hoping to finally get them off the ground. But six months later, with no convincing
results, the company reintroduced online sales fees.
In H1 2019 Sotheby’s posted a -7.4% contraction in Fine Art sales revenue versus H1 2018… after hammering the
best result of the first semester: $110 million for Claude Monet’s Meules (1890).
Sotheby’s takeover offer by the telecoms and networks tycoon Patrick Drahi (with a premium of 61% over the
averaged share price) has not only been very well received by the Sotheby’s management committee, it was also
followed by two other offers (according to the New York Times): one from Wall Street, initiated by Blackstone CEO
and art collector Stephen Schwarzman; the other from China’s Taikang Asset Management, which, until the operation
is confirmed, holds the largest stake in Sotheby’s.
This financial interest underscores the immense economic potential identified by major European, American and
Chinese investors. The withdrawal from a regulated public market will provide Sotheby’s with a greater degree of
immunity from shareholder pressure, particularly regarding its operating margins. That will translate into greater
flexibility which should allow Sotheby’s to pursue a long-term strategy that will almost certainly involve a faster and
The analysis of the Art Market presented in this report is based on auction results from public sales of Fine Art
recorded by Artprice and Artron between 1 January 2019 and 30 June 2019.
This report only covers Fine Art works classified as paintings, sculptures, drawings, photographs, prints, videos,
installations or tapestries, excluding antiques, anonymous cultural objects and furniture.
All prices indicated in this document refer to public auctions results, including buyer fees. The “$” symbol refers
to the United States dollar.
Our ‘creative period’ segmentation obeys the following schema:
• “Old Masters” – works by artists born before 1759
• “19th century” – works by artists born between 1760 and 1859
• “Modern Art” – works by artists born between 1860 and 1919
• “Post-War Art” – works by artists born between 1920 and 1944
Artprice is listed on Eurolist by Euronext Paris (Euroclear: 7478 - Bloomberg: PRC - Reuters: ARTF) - A company of Groupe serveur
Terms and conditions of use and sale - Withdrawal process - Confidentiality and personal data protection charter - Copyright by
artprice.com © Thierry Ehrmann 1987-2019 All rights reserved
Star Global International who conceived the Million Dollar Harley and launched it from the
sky in 2010 to a world audience in
Marina Del Rey, Los Angeles,
celebrates its 1st yr. anniversary
of its spectacular New York’s,
Times Square digital retrospective
of Jack Armstrong’s works by
offering the opportunity to buy 2
original Cosmic X paintings. Star
Global International, thinking out
of the box, sought a retrospective
in a world class venue in line with
the artist’s stance against the top
galleries and auction houses he
calls the Art Cartel. The digital
retrospective features all of his
100 paintings along with his Cosmic Harley, his Artbike, his Tony Lama Cosmic cowboy boots,
and will boast the $100 million cosmic Bugatti super car he plans to launch in 2020. They will
also announce soon, the release date of their biopic movie, an intriguing life story of this
charismatic artist called The Last Wizard of Art by his late friend Andy Warhol. The biopic
movie ‘The Last Wizard’ stars Damian Chapa as Armstrong and Eric Roberts as Warhol.
Jack Armstrong, founder of Cosmic ’X’ art, now enjoys maximum exposure, right above the
main entrance of Ripley’s in Times Square. Like his uncle who took that daring first step on the
moon and famously said “One small step for man and one giant leap for mankind” Jack, with
the promotional assistance of Star Global, has taken a giant leap for artists. He plans to open
his own museum soon and support only artists who produce their own works.
Armstrong claims that one day his works will sell at prices that surpass the recent record
prices paid recently for Warhol and Basquiat. He was friends with both artists in the 80’s. He
recently raised his minimum price for one of his paintings to $10 million.
The art market is roaring upwards in sales and values. The paintings are extremely scarce with
over 50% in private hands and no one appears is in a hurry to sell. The rich and famous are
amongst his early buyers. Maybe an opportunity now of a lifetime? www.starglobalart.com
“There are no Fakes” is the title of a hot new Canadian documentary that features an estimated $30 million in fraudulent art sales –
The Morrisseau Forgeries. One of the art dealers in the film says that there could be as many as 3,000 paintings involved in this fraud over
the last few decades. This highlights a huge problem for the art world where many fakes and forgeries look as old as the originals and many
galleries, dealers, museums and collectors are fooled. However, there is usually some small detail in the provenance that exposes the
forgery but it often escapes even the experts. It’s caveat emptor for the most part i.e. the buyer is solely responsible for the purchase as
long as the dealer acts in good faith. An authenticated painting sells at a huge multiple to a questionable one. The stakes are very high!
Han van Meegeren (1889-1947) is an interesting case of fakes. He was so offended by criticism, that his work was
unoriginal, he created a new and original work, Supper at Emmaus, by the great master Johannes Vermeer. He
intended to declare his hoax once the painting was authenticated as a masterpiece but he never made that
declaration. A Dutch gallery bought it and used it as a centerpiece for an exhibition. Meegeren went on to forge
others. In 1945 he sold one of his fake Vermeers to Nazi Leader Hermann Goering. After the war he was charged
with selling a work of national importance to a member of the Nazi party. In his defense he had to admit his forgery. He became world
famous as the man who swindled Goering. The world may have been fooled forever, if not for this confession.
Michelangelo started his career as an art forger albeit that he was an extremely skillful artist. He created a number
of statues, including one called the Sleeping Cupid, when he was working for Lorenzo di Pierfranseco. Another
eminent forger was one Elmyr de Hory who sold over 1000 fakes by famous artists such as Picasso, Matisse and
others. It is indeed ironic that his own works are now sought after and forgeries claimed to be forged by him have
begun to appear in auctions. There are many more examples of forgeries. It really is a crazy art world!
There is no doubt that the Art Business is Big Business making the gamble worthwhile.
Once a painting is authenticated as a masterpiece it can attract a huge price in a gallery or
at an auction house. It’s a big payday for both dealers and auction houses. Many questionable
paintings never come to light because the buyers have no interest in finding out afterwards that they have a
worthless painting. Police estimate that up to 50% of the art sold on the international market may be forged.
Major museums may be holding collections that are about 20% fake. In April 2018, a French museum discovered
that 82 of their 140 Etienne Terrus paintings were fakes.
Artists often receive only a small fraction of the hammer prices for their valuable artworks and some artists are fighting back. One such
artist, Jack Armstrong, from his early days in New York as a model and artist, shunned the Galleries and Auction houses. He called them the
“Art Cartel.” He says that they sell factory art—art reproduced by lowly paid artists then signed by their own, gallery promoted, artist.
Armstrong proved that it’s possible to break through this art establishment wall and self-promote, selling million dollar art. Alice Walton
owns two originals. Armstrong’s Cosmic X art, a style he founded, and painted only 100, is virtually impossible to forge. This extremely
limited production makes them easy to track. His paintings also contain his fingerprints, handprints and DNA.
Star Global International Inc. has been promoting Armstrong’s works for nearly a decade after rocketing him to art star status with their
“Million Dollar Harley” promotion. Armstrong painted this V-Rod Harley Davidson it is the most expensive motorcycle in the world. There
are no Gallery showings or Auction prices yet over 50% of his paintings are already in private hands with no eager sellers. This will change
and a secondary market will evolve. The extremely limited production will cause his prices to skyrocket. His current prices range from $5
million to $50 million. Millions of people have seen his works many of which are currently promoted in a Digital retrospective in New
York’s Times Square just above the main entrance of Ripley’s. The artist claims his paintings will eventually sell in the $100 million ranges
alongside those of his contemporaries and friends from his New York sojourn in the early 80’s. Armstrong was a friend of Andy Warhol who
called him The Last Wizard, Jean Michel Basquiat and Keith Haring. Star Global are able to authenticate any Armstrong painting and
represent several of the paintings. We currently have two for sale and welcome all enquiries.
Nino barrette is an art dealer, critic and lecturer
with over 20 years of experience curating
international exhibits and museum collections.
The art of Jack Armstrong is fascinating to many and the question commonly asked of all pure abstract
expressionist painters is “what makes this special?”
Well of course, the response to that question is complicated and different for everyone as art is subjective so
there is no right or wrong answer when interpreting the artists’ work.
Jack Armstrong’s “Cosmic Extensionalism” is a new step forward in the evolution of art forms and it is often
compared to the style that many associate with Jackson Pollock or his peers of the day. Is that a fair
In my opinion, the two artists share a commonality in that they both are very deliberate in their technique
with nothing random or accidental occurring in their paintings. Furthermore, the works have a rhythmic dance
of intertwining paint and they share an audacity and boldness to break new ground separating themselves
from the masses. Accepting those similarities, one next has to recognize the significant differences between
the artists’ works to gain an understanding and appreciation of the unique art style that Jack Armstrong has
Jacks “Cosmic Art” is driven by a mystical force that emanated from the “Black Sapphire of Queensland.” That
force compelled him to create a very specific number of paintings in a very specific manner. Each of the 100
works is deliberately constructed with the lines, figures and movements creating the appearance of an
accidental, non-compositional technique. The mysterious messages and words found in the lines of the
painting are purposefully and strategically placed to deliver the cosmic energy within the painting to the
The few owners of Jack’s “Cosmic Art” have a common experience in that they all mention an indescribable
energy that seemingly vibrates from the paintings as they get near for viewings. This energy washes over them
and creates a feeling of rejuvenation and vibrancy.
With Pollack, it was likely a motivation to create artwork that separated him from the traditional style of the
day and to that end he created his signature “drip and splash” or “action painting” technique, which was very
avant-garde and revolutionized what was considered “fine art”.
Regardless of opinion on what is and what is not “art”, Jack Armstrong is an exceptionally talented artist that
has developed a unique body of work that is extremely finite and cannot be repeated or duplicated. The fact
that collectors, investors, other artists and critics value the works in the millions speaks volumes to the
current value and future speculative value of the artwork. All past fame and accolades aside, Jack’s art speaks
for itself and much like it’s brash creator… it speaks very loudly to those that can hear its message.
The biopic about the modern cosmic artist is entitled “The Last Wizard” (A nickname given to Jack by his close
friend the world renowned artist Andy Warhol). Chapa said Details Magazine's brilliant writer Stephan Saban
introduced him to Warhol in New York during the 80’s. "It was there I also met a young up-and-coming model,
Jack Armstrong later became a very wealthy and controversial artist.
Chapa also stated, “When I heard of the recent tragic but compelling story of Jack Armstrong’s controversial
life, and my memories of Warhol/Armstrong in the 80’s, I began to get impassioned by the project.”
Controversial filmmaker Damian Chapa also produced 'El Padrino' in which Chapa directed Academy Award
winners Faye Dunaway, Jennifer Tilly, and Gary Busey, along with Academy Award nominee Brad Dourif. Chapa
is no stranger to biopics; Chapa is the only filmmaker in the world who has produced and directed films on the
life of Marlon Brando and Roman Polanski.
Chapa won the best director and best drama awards for "Brando Unauthorized" at the New York International
Film/Video Fest 2010. He also won the Best Production Award for his "Polanski Unauthorized" at Indy Fest.
Recently, he was nominated for two NAFCA awards for his film "The DSK Story".
In an interview, Chapa said, "Alleged felon/artist Jack Armstrong is right up my biopic alley."
Star Global International, who was the creative force behind the “Million Dollar Harley” (painted by Armstrong),
has been hired as a consultant for the movie.
Many people don’t know that Jack Armstrong was the nephew of the famous astronaut Neil Armstrong, the first
man to walk on the moon.
Chapa said, "The film will be surreal at moments surrounding the strange story of how Jack Armstrong as a child
spoke to the "Black Star of Queensland," a black, sapphire jewel that was in the Smithsonian Museum for years.
The Black Star spoke back to Jack Armstrong telling him he was going to be the most famous cosmic artist ever."
Chapa said he, "won’t shy away from the rape allegations that led to the arrest of the artist Jack Armstrong."
The production begins on November 22nd, 2016, in New York City.
As reported by Artprice Mar 19, 2019
“In London, the year’s first major results in Post-War & Contemporary Art were encouraging. Christie’s and
Sotheby’s both posted excellent totals, doubling their combined 2018 sales turnover.
Sotheby’s posted $145 million from its sales on 5 and 6 March while Christie’s generated 140 million
(including the total from the much anticipated Georges Michael collection), and that’s without counting
their respective online sales. The combined total of $285 million is almost exactly double the total posted
for their London Post-War & Contemporary Art sales of March 2018 when the world’s two dominant
auctioneers generated $143 million (6 and 7 March 2018).
The strongest results were hammered for David Hockney, Nicolas De Stael, Cecily Brown, Gerhard Richter,
Jenny Saville and Lucian Freud, with David HOCKNEY fetching the highest bid at Christie’s when his
Henry Geldzahler and Christopher Scott (1969) – with similar dimensions to Portrait of an artist (Pool
with two figures) (1972) – generated his second best-ever auction result at $49.3 million. In 1992, the
painting was worth $1.1 million when it was sold at Sotheby’s in New York.
Some of the results at Christie’s sale of the George Michael Collection were disappointing. The singer’s fame
failed to ‘ignite’ the bidding and two important works by Damien HIRST sold beneath their estimates. The
most anticipated, The Incomplete Truth (a dove in flight… in a formol bath of course) fetched just $1.2 million
versus the $2 million expected. Tracey EMIN got a better reception when her canvas Hurricane largely
doubled its high estimate, fetching $572,000. In total, the George Michael sale brought in $14.6 million, a
sum donated to charity organisations in honour of the singer’s philanthropic commitments during his lifetime.
We also saw that painters Kerry James Marshall, Adrian Ghenie and Cecily Brown are still appealing
to major collectors. Marshall generated another superb result with the sale of Untitled
(Painter) (2008). Estimated between $1.8 million and $2.5 million by Sotheby’s, it reached $7.3 million on
1 March. The same day, two small drawings by the American artist also exceeded their estimates. The young
Romanian painter Adrian GHENIE also exceeded all expectations: two large paintings dated 2009 brought
in more than $9 million, while at Phillips, Cecily BROWN‘s Armed and Fearless (2014) doubled its estimate
reaching $2.3 million.
More unexpectedly for a Post-War & Contemporary Art sale, Nicolas de Staël returned to centre-stage
with three oils-on-canvas sold at Christie’s on 6 March bringing in a total of $13 million.
In contrast… the Jeff KOONS contraction appears to be continuing. His Box Car (1986) (Ed 1/3)
was auctioned for the third time, with a worrying fall in value:
• $1,945,000 on 13 May 2008 (Sotheby’s London)
• $845,000 on 11 November 2015 (Christie’s New York)
• $485,000 on 6 March 2019 (Christie’s New York)
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A POLICE REPORT WAS FILED EARLY MAY
TTHIS YEAR IN DALLAS, TEXAS.
This painting is irreplaceable and one of
only 100 Cosmic X paintings of the famous
American Cosmic artist Jack Armstrong
and worth a staggering $13 Million. The
two main suspects are blaming each other
for the theft and serious threats of bodily
The painting was on loan to a Dallas
woman Ms. X who had been a long term
friend of the artist’s and she accused her
lodger Mr. Y of stealing the painting and
using it to extort her. Mr. Y alleges that
she took the painting out of the country.
Ms. X mysteriously failed to report the
theft to the police at the time and several
months later, when the artist asked for his
painting back, as he had donated it to a
children’s charity based in New York, she
informed him that his painting had been stolen. Both suspects claim that they are
completely innocent. The Dallas police have a reputation for being thorough and
together with the FBI we have every confidence they will recover the painting. In
the meantime the artist has generously donated another of his 100 only Cosmic X
paintings to the charity.
The artist’s fingerprints and DNA are in all of his 100 originals so I doubt it will
appear on the market for sale as it is easily authenticated. The artist who no longer
resides in the USA often left paintings with various people he knew. This painting
which is unique from the others as it references a Hollywood icon will hopefully be
returned to the artist soon.
THESE BOOTS, AS WITH HIS 100 COSMIC ‘X’
PAINTINGS ARE ROCKING THE WORLD!
Internationally renowned charismatic
and rebel American artist Jack
Armstrong, who founded the modern
art style “Cosmic “x”, has created the
world’s most expensive boots; the
“Cosmic Cowboy Boots” with a price
tag of $6M. He painted on his own
pristine 1968 Tony Lama boots, a
brand worn by Harry S. Truman and
favoured by many other Presidents.
Armstrong’s latest Cosmic X project
follows the successes of his “Cosmic
Starship Harley”, the world’s most
expensive Harley Davidson V-Rod,
unveiled and sold for over $3M in 2010
and now back on the market for $10M,
and his “Cosmic Star Cruiser”, a bicycle
launched in 2014 at the prestigious Big
Boys Toys, Dubai. With a price tag of
$3M it attracted the wealthiest people
in the world and huge media coverage.
Jack called “The Last Wizard” by his friend Andy Warhol proved it is possible to sell
million dollar art without the top galleries and auction houses he railed against for years.
Around 50% of all art is sold privately today because of the high costs of these
establishments. His ‘sticking the boots in’ is perhaps his ultimate statement against
what he called the art cartel. The majority of talented artists never break through the
establishment wall while those few favoured artists become multi-millionaires. He
has promised to help more talented artists break through this barrier.
He vowed to paint only 100 canvases in his lifetime. His unique Cosmic X style of art
combines extreme colors and textures with words that magically appear throughout
each painting when viewed at different angles, his bold signature often in the center.
Around half of his collection is already in private hands. Listed amongst his collectors
are such names as Alice Walton the Walmart Billionaire, Narenda Patel, a world-famous
architect, Donny York of the group Sha Na Na and Michel Polnareff the famous French
singer. His collectors are not eager to sell. This scarcity factor guarantees an
A movie and a PBS documentary are already planned about his life and in 2020
Armstrong is set to launch the world’s most expensive automobile with a price tag of
$100M along with a line of fashionwear. There really is no stopping him!!
These ‘Cosmic Cowboy Boots’ may not be to everyone’s taste and you may ask why
paint them in the first place? “Well Van Gogh painted boots but never his own. Not
many people know that”. These boots may not be meant for walking but are certainly
meant for talking! Armstrong has definitely scored another FIRST!
THIS SIGNATURE PAINTING, THE LARGEST MASTERPIECE BY
COSMIC X ARTIST JACK ARMSTRONG, MAY WELL BE THE BARGAIN
OF THE 21st CENTUARY WHEN COMPARED WITH BASQUIAT,
POLLACK, PICASSO OR ROTHKO. WITH ONLY 100 PAINTINGS IN THE
WORLD, THIS SIGNATURE PAINTING COULD EASILY SURPASS THE
$110.5 MILLION PRICE PAID FOR A BASQUIAT.
Coming soon will be the ultimate luxury hyper-car – the $100
million Armstrong-Bugatti. World renowned artist Jack
Armstrong has plans to paint the most expensive car in
history with a Bugatti. It will officially be named “Armstrong-
Bugatti: Cosmic X” or also known as the “Cosmic Dream
Star.” This rare blend of exotic auto and creative art will truly become a Masterpiece!” The
Armstrong-Bugatti will easily become the world’s most expensive Art-Car. Jack Armstrong
stated, “I will break the World Record with an Art-Car, the same way I broke the world price
records for the Most Expensive Motorcycle, Bicycle and Cowboy Boots on Earth.”
The Life of Luxury is proud to announce that the Armstrong-Bugatti supercar will be
exhibited in China in 2020. The custom art-car will feature Armstrong’s special, “cosmic”
blue paint. Can you imagine the overwhelming interest that industry lovers will have? Once
unveiled, the Armstrong-Bugatti will be seen in Macau, by millions of car and art fans.
There have been rumors prior to this announcement that Jack Armstrong would feature a
Rolls-Royce as his Art-Car. Well, we can confirm directly from Mr. Armstrong that he has
chosen to feature a Bugatti. The reason he gave is, “I will paint a Bugatti, out of respect: for
the family of artists, which is Bugatti.”
But what Bugatti will be used? We can confirm that a top secret, new model Bugatti model
will be announced at the Macau exhibit opening. How exciting is that?
The Galaxy Macau casino resort is a luxurious property located on the Cotai Strip in Macau,
China. It opened in 2011 with much fanfare. As a result, this opulent hotel quickly become
the place to stay in Macau. This vibrant city is a short one hour ferry ride from nearby Hong
Kong. Macau features a UNESCO World Heritage site city centre. Visitors will experience a
rich blend of both Chinese and Portuguese culture.
In addition, Macau is widely known as a world-leading gaming and entertainment locale.
Over 30 million visitors arrive every year to take part in non-stop action. Gambling revenues
are incredible and even dominate what Las Vegas brings in each year.
Armstrong says “Modern art is more free than anything on earth and cannot be controlled
by any historic system’s of art, that have been put into place, to control artists and markets
with ‘curated – art’ that destroys the ‘originality.’ That is the essence of great art and
I’m used to hearing older Sha Na Na
fans say “That was my era” about the early rock n’ roll
years. I’ve understood in a limited way, but now that I’m
old enough to savor my own coming of mature age and
its historical setting, the ripening of post-World War Two
American confidence and our winning the Cold War sit
more solidly as defining elements than the overly
revered Woodstock festival or the classic movie Grease,
both of which I performed in. More than cultural landmarks
like those, the defining impression I have of “my
era” has turned out to be the freewheeling exuberance
of expression that I witnessed in New York City and Los
Angeles as the century ripened. There was never a lack
of remarkable creative characters in either of the towns
where I spent most of my time.
I had bought into the hippy sandals earthiness of the 60s
completely enough to find myself repulsed by the “me
decade” garishness that came prancing in with the disco
glitter of the 70s. Yet the 1970s turned out to be the
decade for television stardom and peak earnings for me
and my rock n’ roll group ShaNaNa. It was also when
the “misery index” worsened for my countrymen so as to
bring their rejecting Jimmy Carter’s presidency and
favoring Ronald Reagan’s claim that big government was
“the problem.” Then followed the “morning in America”
1980s with their economic growth and the disintegration
of Soviet Communism, and it was evident that “the
American century” could turn out to be, despite all the
sporadic heartbreak and disorder, actually a valid TULEMAGIC
descriptive phrase. Freewheeling ambition, excess, spiritual revivalism, and controversy were so common that
we hardly took notice, and the flamboyance in the art of a young Jack Armstrong (even in the entourage of a
celebrated Andy Warhol) could go un-noticed too. It caught my notice as a compelling embodiment of the
spirit of the unfolding age that is “my era” only here in the new century.
Seems to me, what we collect in art should reflect the frivolous side of ourselves along with the more
pensive. I find both, to my surprise, in Jack Armstrong’s work. His paintings’ stunning richness of hue, before
we knew computer graphics would be able to mimic it ever in our lifetime, typified our late-cold-war-era
brashness. His casually hiding his own name in plain sight, and hiding some little-understood names of other
things in plain site- - it’s a playful permissiveness that’s just bulls-eye on that brashness. And in my painting,
titled “Tulemagic,” I find a glimpse of it that requires a gaze, again and yet again. I enjoy how it always
provokes friends’ reactions, and for my own part, I’ve even recorded a song about it.
ALL ENQUIRIES 1 (888) 647-8274 or outside USA +1(347) 674-4246
‘The Last Wizard’, American artist Jack Armstrong's largest and most complex painting
measuring 6 ft. X 4 ft. is not only his grandest painting in scale but also in the complete mastery
of the Cosmic X art form he founded in 1999. ‘Cosmic X’ requires the artist to become the art
they are creating by feeling no separation between the art and the artist.
Armstrong said, “When I saw Basquiat's huge blue red & yellow skull in 1982, at it's completion,
I knew it would be regarded as one of his best works, and it later sold for $110.5M Dollars. The
Last Wizard painting is approx. the same dimensions as Jean-Michel's ‘Untitled’”. Armstrong
adds, “I feel the same way about ‘The Last Wizard’ as Pollock must have felt about his painting
‘Blue Poles’, ‘Guernica’ to Picasso, ‘Orange’ by Rothko, and ‘Untitled’ by Basquiat.”
Completed in 1952, Blue Poles was acquired by the National Gallery of Art In
Australia in 1973, amid much outcry among the Australian public that the
government would purchase, a modern abstract painting at just over 1 Million
dollars in Australian currency. Today the painting is conservatively estimated at
300 Million to over 1 Billion Dollars.
ALL ENQUIRIES 1 (888) 647-8274 or outside USA +1(347) 674-4246
Picasso's Guernica could guarantee 1 Billion Dollars today at
1961"Orange Red Yellow,"
Rothko sold for $87M. in 2012.
Rothko maintained the social
revolutionary ideas of his youth
throughout his life. In particular
he supported artists' total
he felt was compromised by the
market. This belief often put him
at odds with the art world
establishment, leading him to
publicly respond to critics, and
occasionally refuse commissions,
and sales exhibitions.
ALL ENQUIRIES 1 (888) 647-8274 or outside USA +1(347) 674-4246
JEAN-MICHEL BASQUIAT (1960-1988),
“Untitled,” 1982 (acrylic, spray paint and oil
stick on canvas, 72 1/8 x 68 1/8 inches).
Bids began at $57 million. Sold for
$110,487,500 (including fees)
“Tonight, Jean-Michel Basquiat entered the
pantheon of artists whose works have
commanded prices over $100 million,
including Picasso, Giacometti, Bacon, and
Warhol,” said Grégoire Billault, head of the
Contemporary Art Dept. at Sotheby’s NY.
“This extraordinary canvas from 1982 has
broken so many benchmarks …but those of
us lucky enough to have been in it’s
presence will only remember it’s awesome
power. To think that it was created by a
virtually unknown 21-year old & was
dismissed by critics, is humbling.”
SOLD $110.5 MILLION
"In the future "The Last
Wizard" will break the
records of his peers, but
the power of all these
larger than life works will
remain as the signposts
that signaled the future
of art." - Jack Armstrong
Welcome to the summer issue of
Art & Museum Magazine. This
publication is a supplement of
Family Office Magazine, the only
dedicated Family Office
publication with a readership of
over 46,000 comprising some of
the wealthiest people in the
world and their advisors. Many
have a keen interest in the arts,
some are connoisseurs and other
Many people do not understand
the role of a Family Office.
This is traditionally a private
wealth management office that
handles the investments, governance
and legal regulation for a
wealthy family, typically those
with over £100m+ assets.
Art & Museum is distributed with Family Office Magazine and will also appear at many of the largest finance,
banking and Family Office Events around the World.
Media Kit. - www.ourmediakit.co.uk
We recently formed several strategic partnerships with organisations including The British Art Fair and
Russian Art Week.
Prior to this we have attended and covered many other international art fairs and exhibitions for our other
We are very receptive to new ideas for stories and editorials. We understand that one person’s art is
another person’s poison, and this is one of the many ideas we will explore in the upcoming issues of ‘Art &
INTERVIEW WITH JACK ARMSTRONG submitted by
DEREK CULLEY printed in Family Office magazine
ART & MUSEUM summer 2017 edition. Derek Culley
discovered world famous artist ‘DAMIEN HIRST’.
by Derek Culley
Jack Armstrong has been painting since
he was five years old. After arriving in
NYC in 1979,he became friends with
Andy Warhol, Jean-Michel Basquiat &
Keith Haring. In 1984, after turning
down a solo exhibition with Castelli
Gallery in NYC, Armstrong has
maintained his revolutionary anti-dealer
stance and has never been represented
by a dealer. Between 1994 & 1997;
Armstrong repurchased his early work
and destroyed all paintings, vowing to
create a new style for Modern /
Contemporary Art. The years 1999 &
2000 witnessed Armstrong founding
“cosmic Extensionalism” revolutionizing
Modern / Contemporary Art.
Armstrong’s use of extreme colour,
texture and light with words magically
appearing at different angles in the
paint, allow viewers to experience the
universal cosmic energy, coexisting with
Armstrong’s belief In inter-planetary
and multi-dimensional Extensionalism.
This is the foundation of Armstrong’s
revolutionary work. Armstrong’s total
output to date features 100 Cosmic
Extensionalism Paintings coupled with
the most valuable motorcycle and art
bicycle in the world. Plans for 2019
include the introduction of the most
expensive art automobile in the world.
Other projects include the staging of
the “Cosmic Firebird Ballet” Dance
Concert choreographed by Valerie
Mahabio plus 3 limited edition coffee
table art books published by
A & M:
How did growing up in Midwestern
United States form and inform your
ambitions and dreams?
Growing up in Omaha in the 1960’s
made you dream. You dreamed of
California, Paris, Rome, Sydney, New
York, London and all the Islands you
saw in travel magazines. Rio to Bali to
Asia.. The dreams took me to the most
beautiful beaches in the world and the
great cities with the finest art
museums. I dreamed to paint what
my hero Van Gogh did not have time
to achieve, in the ten year period in
which he worked. Omaha was a cattle
stockyard town on the Missouri River
with one gem of a museum named
“The Jocelyn” Museum of Art. It was a
pink granite palace that shone in the
sun, given to the city by one famous
local family that changed my life. I saw
the old west masterpieces of Charles
Russell and Frederic Remington and
the treasures of the Pharaoh “King
Tut.” But Van Gogh changed my life
when I viewed his self-portrait and
discovered myself. The golden mask of
the “boy” King of Egypt seen thru the
eyes of a seven-year-old boy was
magical. Inside a Greek Temple, on the Plains of
Nebraska, this Museum became my center of magic &
wonder, that would inspire my journey to find the
“center” of my own magic, & somewhere, somehow,
inside of myself, create a revolution of light and color
that would shine as brightly in modern art, as Tut’s
golden & turquoise mask, shone in his time.
Andy Warhol, Keith Haring, Jean-Michel Basquiat are
modern icons and readily recognised major artists. As
a contemporary and friend of above artists; you have
shunned Galleries and destroyed early works, focusing
on producing the “100 Paintings”. Please discuss.
Having finished the 100 paintings in 2010 that I
promised myself would be my total output as an artist
after I repurchased my early work in the 1990’s and
burned all of the paintings, I was re-imagining my early
dream of painting a Harley Davidson. My early works
were no different than what had been achieved by
thousands of artists, even though I was the only artist
ever in NYC, that explained to the most important
Modern Art Dealer on the planet : Leo Castelli, that I
was “not” ready for the solo show he offered me, in
his Castelli Gallery in New York (1984). .“My friend
Andy Warhol did not speak to me for months. Only
Larry Rivers & Keith Haring understood. Roy
Lichtenstein and Jean-Michel Basquiat were in their
own world, and I went deeper into my own
non-dealer, non-gallery experience.”
Did this route to independence affect your ability for
artistic recognition and successful sales?
It depends on which yard sticks one uses to measure
success. Nicknamed “The Last Wizard” by Andy
Warhol; who saw my work as more alchemy than art; I
have followed “a true” path in the execution of my
dreams and works. Amongst my peers and critics, I am
respected. Collectors have acknowledged my work. For
example, Walmart’s Alice Walton, Narendra Patel and
Michel Polnareff, are internationally known collectors
of my art works. My work is among the highest and
fastest appreciating artwork in the world. My paintings
have been sold for 700 thousand dollars to Six million
dollars. As I point out above, my no-dealer and
independent approach to collectors and critics have
increased the value and uniqueness’ of my “100
Paintings”. Cosmic Extensionalism is my religion.
I am intrigued as to what inspires you and what
“Cosmic Extensionalism” is about.
My goal and my muse, which is really the child still lost
in wonder among paintings: in the “Muse”- ums of my
youth, was to create something that people had never
experienced before. “Cosmic Extensionalism” (founded
1999 – 2000) which I named the style I paint in, is
more than a new school of art. It is everything I
dreamed possible long ago. Art dealers, gallery
personnel, curators and art history experts today
speak in gibberish. This is what they have been taught.
Vincent Van Gogh taught us thru his life and work that
the “Essence of life itself” only becomes visible when
we believe in the power of our “own” creation. So all
the theories of people who do not create “anything”
except meaningless words to try and explain the
“meaning” in many paintings that have no meaning &
are hung on walls in the great dealer galleries and
museums of the world, supported by “words” to
somehow validate their “worth” in terms of price and
significance seems absurd when considering Van Gogh.
For me “Cosmic Extensionalism” is universal magic, a
cosmic connection to the energy of trillions of galaxy’s
and Channelling that power to everything we do or
create. It is a universal essence of life, colour, magic
Why did you choose to immortalise the Harley
Davidson to feature among your art signatures of a life
Seeing my first Corvette’s in 1963-1966 was the same
for a young boy, as looking at masterpieces in art
museums. American dreams, on wheels. Exotic bright
coloured paint, the fastest, most beautiful cars I
thought, in the world. Listening to “Engines” that
sounded like thunder-gods became our religion. Harley
Davidson’s from that period were radical icons of lust.
The ultimate, piece of motor art. In the annual custom
auto and motorcycle shows in the Omaha Coliseum,
the velvet ropes surrounding these wondrous
machines became my friends, as I clung to the soft
ropes with small hands and large dreams, I whispered
to myself, “someday I will paint the finest art motor
cycle and Sports car, in the world.” Gazing at those
incredible machines, it seemed to me then, and still
today, which everyone who ever painted no matter
how high the level of perfection that they always went
deep, in the sense of thickness of paint. No matter
how many layers of paint & lacquer that
were applied, in the end, no matter what
style and colour or pattern, all the same
technique. Flat surface, without any
texture, surface height or “explosion” of
madness. Beauty without magic. I saw
the possibility then, (in 1963) which was
still true in 2010 when I finally achieved
my childhood dream of painting what I
believe to be, the most revolutionary art
motorcycle in history. In 2009 I painted
one shining new, Harley V-Rod that
would become my art signature, of a
lifetime’s work, & planning that could
take me into Vincent’s cosmic world and
beyond. Van Gogh was the first artist in
history to create Revolutionary art.
The Cosmic Starship Harley Davidson sold
for $3million (2012) and was followed by
the $3 million Cosmic Star Cruiser ART-
Bike. What are your plans for the future?
I am in the planning stage to create the
most expensive car in history, A “COSMIC
ROLLS ROYCE” To be released for 2019,
model to be announced, but it will be “a
cosmic starcloud-convertible, price
$100M. U.S. Dollars, with its own “English
made” - 2019 “Cosmic Triumph” Motorcycle,
(model also to be announced.)
Additionally, this $6 Million Dollar Art
Motorcycle will be mounted on its own
custom clear plastic trailer and attached
to the car. I choose to open this final
exhibition of my career, combining the
Classic British Marks of Rolls & Triumph,
which will be an “Artistic Triumph” for
the public and for art. Creating magic
things change when positive things are
done. Art is the most powerful force of
change in the world as is love. Triumph
and Rolls are pieces of art, and after they
are magically transformed into rolling art
objects through the vision of “Cosmic
Extensionalism”, perhaps I can then
change the life of other’s who need
assistance. I would also mention that 1/2
of the sale price of the Rolls and the
Triumph will be donated to children’s
charity of our choice to be announced.
Because children; are truly the world’s
Source of Biographical Data & answers:
“Cosmic Dream Machine”
These 3 pieces listed above are my personal Triptych of Art, as the Cosmic Harley Davidson was
completed in 2010, exactly 500 Years after the famous "Garden of Earthly Delights" triptych was
completed by Bosch; in about 1510, now in the Prado Museum, Madrid. "Hieronymus Bosch,
The Garden of Earthly Delights, oil
on oak panels, 220 cm × 389 cm
(87 in × 153 in), Museo del Prado,
Madrid. Each of the 3 objects listed,
were the seminal moments in the
history of my art form ‘Cosmic
Extensionalism’. I feel the same
way about the Cosmic Starship
Harley, and the Cosmic Firebird
Painting, works of art standing
alongside Warhol Naked that will
always define me, and my art
creation, ’Cosmic Extensionalism’.
All 3 objects of my art, are each the
reflection of the same dream, and the same artistic truth. Through Warhol, and all the visionary
artists that came before him, I understood that to be the best, you simply could not conform or
alter your vision, to please a dealer or a buyer of my work, because the conformity would have
destroyed the unique imagination behind the masterpiece. Once imagination is removed, there
is no masterpiece. This is true in all the arts, from the Individual art masterpiece, to film, music,
and poetry-No Passion, No Imagination, No Fire, No Art. There is nothing of value In any object
that was created without passion. There have been millions of paintings created and sold
throughout time, and the few, that achieve the highest amounts at auction, become
extraordinary examples of the artist's work, and the most uniquely powerful objects in our
The rarest ones, most reflective of the artist's life and style, become famous. When you say the
words, Van Gogh, you think of Starry Night, or Yellow, Sun Flowers. The art would not exist
without Vincent's creation. But Vincent would not have existed, as we now understand him,
had he not created the seminal piece of his "new" style of art, which is his masterpiece, "Starry
Night." Today, at auction it would bring 1 Billion Dollars or more, because it is painting that most
closely defines and identifies the artist in the art he created.
There are many rare things in the world, that have rarity yet are similar to other things of the
same type. My art and my life have only one meaning, and it can be discovered my passion for
my work, which is reflected in my writing about my art. My art is not rare because there are few
things like it available on the market, but is rare because there is nothing else on earth like it.
When I’m dead and when my art will sell for 1 Billion Dollars each, for Warhol Naked, The
Cosmic Firebird, or the Cosmic Harley, people that want to own a piece of the artist's soul, who
created the masterpiece,
will gladly exchange money
for that rare thing that can
never be duplicated, the
original masterpiece that is
most closely associated
with the artist in question,
and the pieces that will
always reign supreme at
These 3 art objects, will
continue to define my art
and my life's work, Cosmic
Extensionalism, long after I
am gone, and my triptych is
written about. If I had not
imagined and then created
these 3 objects, I strongly
feel, my work as an artist
would still be unknown, as
my connection with cosmic
energy, had not been
completely realized, before
2001, and my creation of
Warhol Naked. In the time period of 2001-2010, every great painting including the Cosmic
Motorcycle, was produced. The Cosmic Firebird Painting Created in 2007, my middle period of
Cosmic Extensionalism, for which I later produced 2 ballets done for film, is the culmination of
everything I realized in my cosmic connection to the universal magic in art. It is nothing like any
painting, before or after, and that is what places it exactly in the same category as Warhol
Naked. Indeed there will never be anything like either one of these originals.
The third and final piece of the puzzle of my Art Triptych, symbolizing the completion of my
cosmic art journey of discovery, and celebration, happened; when the painting became alive in
the lights of hundreds of photographers from
around the world. The most iconic art motorcycle
in history, the "Cosmic" Harley Davidson, literally
came to life on Oct. 21, 2010, In Los Angeles. It
has never been duplicated by any artist, or any
corporation, and it will remain iconic as long as
people continue to value original concepts that
were unique, in capturing the attention of the
entire world, and not singularly only the artistic
world. I believe the bold and exotic coloring and
shading of paint used in the creation of these
three individual pieces, actually become one, “A
Triptych”, when viewed with the Harley in the
center of the other originals. By channeling this
unlimited cosmic energy into my work, and in
creating cosmic extensions inside my art, is the
true foundation of cosmic X, a kind of art magic,
that Warhol recognized when he said my work
was more alchemy than art, thus dubbing me,
“The Last Wizard of art," in 1985. I had been
experimenting with this energy and magic my
entire life until it formed into a cognitive reality
late in 1999, with "The Cosmic Style of Art," that I
am known for today.
Vincent Van Gogh painted for the last ten years of
his life and died at 37 years old. His seminal
paintings were done in the last 2 years of his life. My work has taken over forty years to reach
my peak. The best were created between 2000-2010. Exactly ten years, like Vincent.
"These 3 pieces are the rarest in symbolic "essence," of art and artist, and each contain the
meaning inside Cosmic Extensionalism Art, 1. Imagined, 2. Defined, and 3. Created, in the 21st
Century. When you see them, you will believe in them also. This is my Triptych of Cosmic Art,
and its Extensionalism into the cosmic magic, discovered in my work, by Warhol.
This original painting displayed on the front cover and opposite page is acrylic on canvas was
painted in 2001. "WARHOL NAKED" is my seminal piece in the creation of Cosmic
Extensionalism a technique of art I founded in 1999, and is individually exclusive to myself.
Mr. Warhol taught me that individuality can overcome all opposition in life and in art. When you
create something so unique and different from the norm, it takes years for the critics and the art
world to catch up with proper recognition and pricing, and embrace the new concept. But as
with all great artists as Van Gogh, Gauguin, Modigliani and Warhol, the pricing rises with the
rarity and uniqueness, of the process used. This is what makes the creation of a masterpiece
possible. The boldness to paint a vision that has never been painted before of something so
different and rare, that it becomes iconic, and represents the essence of the artist; and his work.
"Warhol Naked" is my vision of a man who created "soup-cans" as art, and was laughed at by
the critics of his time, until he transformed himself into the most iconic-figure in the art world.
Most of the soup cans did not sell when they were first exhibited in 1962 at $100. The lack of
sales did not deter Warhol, in 1962, as it did not deter Van Gogh or Modigliani earlier.
Visionaries are free from the false concept of acceptance or non-acceptance of themselves, in
their ideas, or in their creations, which limits all non visionaries into accepting conventional
thinking instead of creating revolutionary ideas and artistic invention.
By the time of his death in 1987 Warhol was the most famous artist in the world. The bright,
bold, deeply shaped red, shining surface of the painting over the blue graffiti cosmic art written
with the word “Warhol”, in "bright-white" acrylic paint, symbolizes Warhol's triumph over the
art system of his time.
Now everything is considered art, and everyone an artist, because of Andy's work, in art and
film. Now everyone is a film maker. The freedom to be human, and try everything is the most
basic human right in the world. Warhol was the liberator, of the human artistic experience. He
was my friend, and this painting symbolizes my breakthrough in my own process of becoming
the best individually unique artist of my time, and shunning all art systems. Cosmic
Extensionalism Art is a direct result of the freedom I experienced when discussing art and
technique, with the most famous pop artist in the world, Andy Warhol.
WARHOL NAKED IS MY FINEST WORK, AND IN THE FUTURE WILL BE A LASTING ICON OF THIS
CENTURY'S MOST APPRECIATED, NEW ART. EVERYTHING IS POSSIBLE FOR THE VISIONARY
WHO BELIEVES IN THEIR OWN WORK, AND THEIR OWN VISION. MOST PEOPLE AND ARTISTS
IN THE WORLD ARE TAUGHT TO BELIEVE IN THE VISION OF OTHERS. THE ORIGINAL PAINTING
"WARHOL NAKED" IS MY FINEST VISION.
ARTIST JACK ARMSTRONG, September 14, 2017
Legendary artist Cosmic Jack Armstrong is the last surviving member of the NYC 80s art clique
of Andy Warhol, Basquiat and Keith Haring. It was Andy Warhol who nicknamed Cosmic Jack
"The Last Wizard." Due to his mentor Warhol's friendship with Michael Jackson, Cosmic Jack
had the rare opportunity to spend time with the King of Pop and he even taught MJ how to
paint. Warhol connecting MJ to Cosmic Jack was a natural fit, since Armstrong is related to
moonwalker Neil Armstrong, the first man to walk on the moon. As an artist, Armstrong is
renowned as the creator of the painting style "Cosmic Existentialism", a groundbreaking type
of modern art like Picasso's "Cubism" and Warhol's "Pop Art." Armstrong's "Cosmic Harley"
which was hand painted in his cosmic existentialism style, sold for 10 million dollars and was
named "The Most Expensive Motorcycle in the World." Jack is the only modern artist who is
known to have only 100 paintings for sale which makes his paintings extremely rare and
sought after. Armstrong's paintings are valued at over 200 million dollars and expected to rise.
The world's richest woman, Alice Walton, (Walmart) owns two of Cosmic Jack Armstrong's
paintings. Art experts of FOM in London have stated that Cosmic Jack is one of the finest
artists of his generation; which includes Basquiat, Lichtenstein, Keith Haring and Warhol.
The STARmeter on
imdb is related to
the number of hits
on the imdb page
entry which this
week was up by
some 7.69 million.
An excellent and