Record Breaking Art and Culture News – Will Billion Dollar Art Become The New Crypto?
LOS ANGELES, CA, March 28, 2023 /24-7PressRelease/ -- The Cosmic "X" original painting titled "Warhol Naked" by American artist Jack Armstrong, is now slated to sell at $300 Million (USD). This is big news in the art world, as it will set a new record for American art, breaking the current 'Marilyn' record.
Andy Warhol's "Shot Sage Blue Marilyn" painting is 1 of 5 silkscreen on linen paintings of film icon Marilyn Monroe. It was created in 1964 and originally sold in 1967 for only $5,000. Last year, the "Shot Sage Blue Marilyn" sold for $195 Million, making art the ultimate liquid asset in uncertain times.
Jack Armstrong says "it is interesting that art is now completely financialized and a strategic part of every UHNW (Ultra-High Net Worth) portfolio." The previous record for an American artwork was $110.5 million set in 2017 for the 1982 "Untitled" painting by Jean-Michel Basquiat.
Sold for $195 million, Andy Warhol's 'Shot Sage Blue Marilyn' sets new auction record
Armstrong recently declined a $200 Million offer for his Warhol Naked masterpiece, saying he understands it should bring a minimum of $300 Million in this private sale. The acrylic on canvas painting is his seminal work out of only 100 Cosmic X original art paintings created between 1999-2019. Andy Warhol made 32 Soup Cans that were originally priced at $100 dollars each, yet only 4 sold in a gallery sale. The current record for a soup-can painting is now $37.5 million.
Armstrong states, "I can appreciate that 'Salvator Mundi', attributed to Leonardo da Vinci and sold to Crown Prince, Mohammed bin Salman of Saudi Arabia (in the world's most prestigious auction house) holds the current record price of $450 million for a painting, yet there is still a dispute regarding its authenticity."
Leonardo da Vinci Painting Sold at Auction for Record-Breaking $450.3 Million
With banks becoming insolvent around the world, places to store portable wealth are becoming limited. You can't carry a building with you and gold is heavy. Between Bitcoin and art, art is a physical asset you can transport at a moment's notice. If the internet suddenly goes down, you can't move crypto currency or digital assets, including NFT's.
"Art will soon reach $1 Billion per painting. I believe Warhol Naked will achieve this record," says For Super Rich owner, Eric Poirier, who is handling the painting sale.
Poirier continues, "In today's art market, people want solid provenance and the rarest most 'exclusive' contemporary art. This is what will drive the market. This is why Armstrong's Cosmic 'X' Art will break the billion dollar level, with a single painting as it's rarity, style, provenance are unquestionable. With only 100 Paintings ever made by Armstrong and his DNA in every painting, there will never be an issue of authenticity with Cosmic X art."
Armstrong says, "With over 3,300 hundred billionaires in the world, billion dollar paintings will become commonplace in the future. The most valuable paintings will deliver much higher returns than crypto, while art insiders achieve multi-billion dollar fortunes like early crypto investors."
People will exhibit billion dollar paintings in homes and in private museums. A luxury billion dollar art investment will be shared with family and friends. Currently, rare art is the #1 portfolio hedge with ultra-high net worth clients. Family offices, Venture capital firms, hedge funds, corporations and top billionaires will adjust their portfolios to include the most iconic art.
Armstrong says, "Much has been written about Warhol the artist. Andy was very kind to people, even though he's been viewed as avant-garde and socially connected to the world's rich and famous. This painting captures the true 'spirit' of Andy, with its deep red color and bold signature in white. Warhol is an image Andy spent his life creating."
Jack continues, "The Warhol Naked" canvas is set to take its place at the top of the world's most valuable art. The graffiti-like colors around the edges of 'Warhol Naked' and bubbling ripples of paint throughout the painting show the incredible energy just under the surface that Andy only revealed to his inner circle of friends. The magic of Warhol the Pop Art icon is symbolic in this painting, created just 13 years after Andy passed. It's Andy at his deepest level, stripped of all his facade, wigs and humorous wit. It is Warhol Naked!"
Armstrong says, "This will possibly be my final sale, as my health is a question mark these days. It would be nice to be alive to see it. There are only 33 Cosmic X paintings left in my private collection."
Full Article: WARHOL NAKED Will Sell For Record $300 Million
For serious inquiries, please contact Eric Poirier, owner of For Super Rich.
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