Jack Armstrong, has been painting since he was 5 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, Mr Armstrong has maintained his revolutionary anti-dealer stance and has never been represented by a dealer.
Between 1994 & 1997 Mr Armstrong repurchased his early work and destroyed all paintings, vowing to create a new style for modern art. Between 1999 – 2000, Mr Armstrong founded “Cosmic Extensionalism” revolutionizing modern art. Armstrong’s use of extreme color, texture and light with words magically appearing at different angles in the paint, allow viewers to experience universal cosmic energy, coexisting with Armstrong’s belief in inter planetary and multi-dimensional extensionalism. This is the foundation of his revolutionary work. Mr. Armstrong’s total output are 100 Cosmic Extensionalism paintings, the most valuable art motorcycle and art bicycle in the world. Plans for 2016 include the introduction of the most expensive art automobile in history.
Two of Jack Armstrong’s most famous paintings.
Jack Armstrong’s main strength for the investor may be his drastic policy regarding microstructure of the art market. His notorious rebellious attitude towards art establishment has been lasting for decades and has nourished an interesting alternative to classical dealership: he has fully vertically integrated the supply chain of his own market. As a major consequence for the art investor, there is no dealers’ margin on his sales, hence a frictionless economic environment, usually only devoted to traditional financial assets.
As a side effect to his aversion for dealers, his natural and sincere commitment to the purity of the relationship with his collectors is highly attractive to consumers. By offering this particular value-proposal to the art market, he has managed to position himself as a safe-haven for high quality contemporary American art. This business model is, to our knowledge, unique in its own right for high-end contemporary art that is usually distorted by pushy dealers.
Interestingly, Jack Armstrong’s prices are uncorrelated to global art market and contemporary art market. BajaArtists.com could trace OTC transactions back to 2008 to spot a highly interesting feature of Jack’s Armstrong price history:
prices have been immune to the financial crisis of 2008/2009. We believe different causes may explain this phenomenon:
- Market may have been stimulated by the completion of the Cosmic Extensionalism series
- Management of the inventory by the artist himself has avoided supply shock on the market
- High-end art (> 500kUSD) tends to be more immune to crisis and less volatile than mid-priced (100kUSD – 500kUSD) art.
Price indices: Jack Armstrong, Contemporary Art Market and Global Art Market since 2008. Sources: BajaArtists.com, artnet A.G. (raw data). Methodology: Hedonic price index.
Armstrong published three art books containing all of his 100 paintings, from 2009 to 2010. Critics and collectors have raved about his new style of intense texture, color and light, saying it begins where Pollock and de Kooning stopped. His bold signature, “Jack,” alongside other cosmic messages written in the paint, lets the world appreciate his artistic breakthrough – something unseen and mystical. As Andy Warhol once told of him, “It is more alchemy than art.” Deservingly, and much sought after, his paintings are priced from 7 hundred & fifty thousand to 6 million dollars each.
Jack Armstrong’s collection includes a spectacular motorcycle called the “Cosmic Starship Harley Davidson that sold for $3,000,000 dollars in 2012” and a cosmic Firebird painting that was the mascot and center piece for a ballet called the “Cosmic Firebird Ballet.”
Mr Armstrong has also created the World’s Most Expensive Art Bicycle – the “Cosmic Star Cruiser ARTBike”, is priced at $3 Million Dollars.
Alice Walton, Narendra Patel and Michel Polnareff, are internationally known collectors of Mr. Armstrong’s art. His work is among the highest and fastest appreciating artwork in the world.