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This store charges women 24% less than men for a reason

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lessthan100

LessThan100 is a pop-up shop. It sells "ceramics, textiles, publications, art prints, stationery, and other exceptional goods created by women artists and makers from across the US." 

And women pay less than men. 

The shop is currently popped up in Pittsburgh, Pennsylvania, and will next travel to New Orleans, Louisiana. Currently, those identifying as women are charged only 76% of what men are charged.

The project's website states:

Our inaugural  project,  76<100,  focuses on the wage gap in Pennsylvania, where women earn just 76% of what men earn. Mirroring this inequality, male shoppers at this location will be charged 100% of the retail price of any item, while those who identify as women will be charged 76% of this price. Events held throughout the month will connect, empower, and promote local women and girls.

The project is a not-for-profit and the website is lessthan100.org.

SEE ALSO: Women face a worse retirement savings crisis than men for two reasons

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Jeb Bush is no fan of George W. Bush's painting skills

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George W. Bush

Former Florida Gov. Jeb Bush (R) needled his older brother, former President George W. Bush, for his painting habit.

"Heck, no!" Bush said Thursday at the National Review Institute Summit, when asked if he would enlist his brother to paint his official portrait should Jeb Bush ever be elected president.

"I'd like to wait till we get to the post-modern era of this," he told the crowd of conservatives in Washington DC.

"He's actually gotten a little bit better. He started with doing dogs, then he did landscapes, and now he actually gives paintings to people who are his friends and they put them up because they know ultimately they're going to be incredibly valuable."

The 43rd president picked up his painting habit after he retired to Texas after he left the White House in 2009.

The former Florida governor joked about his older brother's artsy side and also weighed in on his famous political lineage. 

At the Thursday event, National Review editor Rich Lowry asked Bush, "What is it about your mother that makes men associated with her about 10,000 times more likely than anyone else to hold high office?"

Bush laughed but didn't want to belabor the point.

"It's different, it's unusual, I have enough self awareness to know it's a kind of strange," he said about the Bush family political dynasty. 

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A graffiti artist used a drone to vandalize Kendall Jenner's face on one of NYC's most visible billboards

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You would think that the top of a six-story Calvin Klein ad would be difficult to tag for even the most enterprising of vandals.

But not even Kendall Jenner's innocent face is safe from a drone.

According to a Wired report, graffiti artist KATSU tagged her face on Wednesday night.

Here's a look at one of the nicest strokes, thanks to a mysterious YouTube video.

You can watch the full version below.

drone graf

Back in January, KATSU drew attention when he showed off a portrait of Facebook founder Mark Zuckerberg created with his feces.

The billboard features former "Keeping Up With the Kardashians" star and Kardashian sister Kendall Jenner. Part of the #mycalvins campaign, the ad went up earlier in April to replace a possibly Photoshopped Justin Bieber.

The Bieber ad got egged.

The drone is way more clever.

Given that the six-story billboard stands at the ultra-busy Houston-and-Broadway intersection, the result is pretty epic. Here's the landscape view:

drone graf landscape

And the closeup:

drone graf close up crop

Drones are most often used to monitor crops, take photos, or shoot missiles.

But here one is joyfully buzzing across a celebrity's face.

"It turned out surprisingly well,"KATSU told Wired."It's exciting to see its first potential use as a device for vandalism."

The 60-second tag was super tense.

"Seventy percent of the concentration is in maintaining this equilibrium with the two dimensional surface while you are painting," the artist said.

This is only the beginning of drone-based street art. KATSU explained that the Calvin Klein tag was a proof of concept — he'll be releasing a more user-friendly version of the graffiti drone "very soon," he says.

The video:

SEE ALSO: 5 American habits I had to give up when I traveled for 22 months straight

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Hollywood’s top 10 art collectors

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leonardo dicaprio wolf of wall street

In conjunction with the start of the US art season, Wealth-X today released a list of Hollywood’s top 10 art collectors, which features Tinseltown titans such as Star Wars director George Lucas and blockbuster actors Brad Pitt and Leonardo DiCaprio.

Taking the top spot on the list is entertainment industry mogul David Geffen, who has amassed an art collection worth an estimated US$2.3 billion, which includes masterpieces by American artists Jackson Pollock and Mark Rothko.

Geffen’s collection comprises nearly 33% of his total net worth of US$7 billion, even though he sold two of his most valuable works – Jackson Pollock’s “Number 5″ and Willem de Kooning’s “Woman III” – for US$277 million combined in 2006, making them the two most expensive paintings ever sold at that time.

George Lucas claims second spot on the list with a US$600-million art collection that includes Norman Rockwell paintings and pin-ups by Alberto Vargas. Lucas, whose personal fortune totals US$6.4 billion, is reportedly building a US$300-million art museum on Chicago’s lakefront, which is due to open in 2018.

The youngest Hollywood art collector on the list is 40-year-old actor Leonardo DiCaprio, whose art collection is worth an estimated US$10 million and includes pieces by Takashi Murakami, Jean-Michel Basquiat, and Frank Stella.

The combined value of the art collections of the 10 individuals on the list is US$3.9 billion, representing 16% of their collective net worth.

Below is the list of Hollywood’s top 10 art collectors:Screen Shot 2015 05 01 at 2.52.01 PMWealth-X compiled the list based on publicly available information on the individuals and their art collections.

SEE ALSO: The 'George Clooney Effect' explains why younger women often pair up with older men

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Graffiti art is so popular in China that people are even paying to have their walls tagged

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The popularity of graffiti has gradually grown in China after first arriving during the emergence of pop culture in the '90s. Now with the widespread use of internet, graffiti fans across China can connect and a number of official graffiti crews have emerged. 

Graffiti groups now hold graffiti exhibitions, do business with design companies, and even have their own graffiti shops. Some city administrators are even inviting graffiti fans to paint in some areas including university campuses and art villages.

Produced by Jason Gaines. Video courtesy of Associated Press and BON TV.

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This is what happened when I went on a whim to a class that claims to teach you how to pickpocket

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party1

When I arrived at the Brooklyn space I was told I had to "wait to be picked."

The Crown Heights event promised to teach me how to pickpocket. From the outside, the space appeared to be mostly open, enclosed by two buildings. There were maybe three other people standing outside also waiting to be picked.

So I stood on the sidewalk twiddling my thumbs until a woman kneeling underneath a tent beckoned me to sign in. She then asked me to produce a dollar and write down "a desire you want taken or a desire you want back." I did so and was instructed to keep it in a somewhat easily accessible place. 

It begins.

Artists have been throwing "parties" like this forever.

This party billed itself a "Pickpocket Rent Party," in that the people throwing it (a group of artists) were raising funds to pay their rent and it purported to teach attendees how to pickpocket.

It’s a pretty straightforward name. 

The collective is named "1067 Pacific People," which also happens to be the address. So straightforwardness is kind of this group’s thing.

In the grand scheme of things, an art party claiming to teach how to pickpocket isn't the most outlandish of themes. Salvador Dali once hosted a benefit where he and his wife dressed in strange paper maché animal-like costumes and fed a baby lion. European artist Marina Abramovic also held a gala (that reportedly went for $10,000 a head) where naked performers and seemingly severed heads were strewn about during the dinner. And I can only imagine some of the ideas Warhol executed at his storied Factory space.

So in the name of art (and perhaps a tiny hope I would learn a new skill) I decided to shell out the $15 to help these artists keep their space.

The scene.

The first description I found about this party described the event thus; As it unfolds, "all the party guest become outlaws." In a recent DNAinfo article, the description went further: "We’re also going to teach people to steal from themselves," the event’s organizer Andrea Haenggi explained to the blog.  

Of course this was all said with an extremely obtuse artistic veneer. When I bought my ticket online I was instructed to bring a dollar or two and to write a message on it "WHAT DESIRE WOULD YOU LIKE TO STEAL BACK?" the event wrote. 

I began milling around the open area. There were signs strewn about like Tibetan peace flags saying things like "TKS for PICKPOCKETING,""F**K Square,""THIS IS SERIOUS," and "This Space is OUTLAWED." 

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There were also individual installations of random objects throughout the open space: A mattress with a sign; A few plants atop a carpet; A lamp. Everything had a sign with a message near it.

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The dance of the pickpocket.

As the party went on, I waited for the formal pickpocketing instructions to begin. Instead, a woman accosted me and asked to perform a dance. I accepted. She began by inverting one of her pockets, indicating that it was empty.

And then the dance began: Her body began to gyrate to and fro; Her legs moving, arms flailing. She would take off half her jacket then put it back on. Her hands began going in and out of every pocket-like surface on her clothes.

I soon understood that this dance was a sort of trick; she would slip a dollar into the before-empty pocket.

It didn’t quite work out as planned. Her vigorously moving body caused the dollar in question to fly out from whatever place it was hiding, into the air, landing behind her, without the dancer so much as noticing. She finished the dance, put her hand in the pocket to present the new dollar, and she couldn’t find it.

I pointed behind her to where it had landed. She sheepishly picked up the fallen money and read it aloud; “Thank you for allowing my body to be outlawed.”

The woman behind it all.

I continued walking around after this and was met by another woman. She had long hair with purple tips, baggy pants, and a vaguely European accent. She was clearly the center of this event — the Andrea quoted in the article I read. We chatted for some time and she asked if one of the pickpockets had seen me and if I was impressed by their talents. I felt obligated to inform her of the flying dollar mishap.

The party was obviously Andrea's child. Some Googling indicated that she has been an active New York-based performance artist for years. Her first collective artist space was in the neighborhood of Williamsburg, but she got priced out in 2012. She moved her work to Crown Heights in the hopes of cheaper rent, but Crown Heights is steadily seeing the same rent-hike fate as Williamsburg.

This party/workshop is meant both a statement about systemic thievery as well as a potential new revenue stream for the 1067 Pacific People. In fact, Andrea told me she may throw more parties of this sort.

Andrea's artist bio describes her as an "interdisciplinary artist, choreographer, dancer, improviser and teacher." Her work has been featured at the well-known modern art museum Mass MoCA, and she has performed around the world.

This event is another notch in her proverbial performance art belt, albeit much less attended than any storied museum. 

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The event continued; people awkwardly stood, talking, while different woman approached them, danced, and produced dollars from thin air. There were about 15 of us, which seemed like a pretty small crowd for a how-to on how to pickpocket. 

Here's where I learned to steal...kind of.

Finally we were all called to an area where Andrea and two other woman stood. The demonstration was finally about to begin. 

"I want to let you become outlaws," the artist proclaimed. "I want to teach you how to pickpocket. I want you to come closer." She then had us stretch out hand. "Stretch and expand your possibility," she ordered. And so we did. Or at least tried. 

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She then had use make a "ball of energy" with our hands. The instructions started getting confusing. "Make a ball. Don’t expand the energy," she said. But while doing this her hand was expanding. I didn’t know how to not expand energy or if there even was energy in the nonexistent ball I was making with my hands.

Then she told us to pinch our fingers. And so we did. Then she told us to "roll the coin," motioning as if a coin were in her hand. It continued like this for some time until she decided we were ready. 

Andrea said that we had to pick with a "firm, easy hand." She then pantomimed the action. She instructed us to "rotate," while moving her hand. I am still not sure what this means. And finally she said that we had to give the victim a "firm bony touch."

To recap, how to pickpocket: form some energy in your hand, roll your fingers, grab people with a bony grip while picking their pockets with a firm easy hand. And then rotate. She then told us to practice with the audience.

About a dozen complete strangers rambled around an open space trying to grab each other’s arms and surreptitiously pick the others’ pockets. I spent a good 15 minutes scanning the space while others scanned me. We looked at each other, grabbed a hold of each other, awkwardly lunged toward each other, but none of us knew what we were doing. As I talked to people throughout the night most weren't coming to learn the art of thievery. 

In fact, most (if not all other than me) were friends of the artists.

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Following the demonstration, I spent the rest of the night chitchatting with others attendees and occasionally trying to pickpocket people. I also lived in fear of others getting me. Andrea at one point tried to make a game where we ganged up on one person to get their dollar.

I hastily stole $1 from a random woman right after the demonstration finished, and after about 2 hours I decided to call it quits. People were beginning to leave and it was getting cold. I approached the exit and saw Andrea standing there. I asked if there was more planned for the evening. She said, a bit sad, that if more people came she may do the presentation again.

After a moment’s pause she asked for my dollar. I suppose she does have to make rent.

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A Van Gogh painting fetched $66 million at auction in New York

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A member of the media films a painting by Vincent van Gogh

New York (AFP) - A Vincent Van Gogh painting fetched more than $66 million at a New York auction, the most paid for a work by the Dutch post-impressionist artist since 1998.

According to the Sotheby's auction firm, Van Gogh's "Les Alyscamps," which depicts a stand of autumnal trees, had been expected to go for around $40 million but ultimately an Asian collector paid $66.3 million after an intense bidding war between five potential buyers.

Also reaching the pricing stratosphere was a "Water Lilies" painting by French impressionist Claude Monet, which sold for $54 million, smashing Sotheby's valuation of between $30 million and $45 million.

The most ever paid for a Van Gogh was in 1990, when his "Portrait of Dr Gachet" sold for $82.5 million in New York. Adjusted to today's dollars, that's about $153 million.

Of the six Monet works offered at auction, "Le Palais Ducal," painted in Venice in 1908, went under the hammer for $23.1 million, more than its estimated $15 million to $20 million.

And his "Bassin aux nympheas, les rosiers" sold for $20.4 million. The two other Monet paintings found no buyer.

Tuesday's sale of impressionist and contemporary works marks the start of auction season in the Big Apple. 

Pablo Picasso's colorful "The Women of Algiers (Version 0)," depicting a scene from a harem, will be up for grabs when Christie's puts it on the auction block May 11.

The artwork has been valued at $140 million.

Also expected to break a record was Alberto Giacometti's "Man Pointing" sculpture, expected to sell for $130 million.

The world record for a painting sold at auction is $142.4 million for Francis Bacon's "Three Studies of Lucian Freud," which was snapped up in New York in 2013.

Giacometti holds the record for "Walking Man I," which sold for $104.3 million in 2010.

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The only way to see this incredible museum in Mexico is by scuba diving

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The Museo Subacuático de Arte, located off the coast of Isla Mujeres in Mexico's Riviera Maya, is the world's largest underwater museum. 

Composed of over 500 life-sized sculptures, MUSA offers incredible sculptures hidden 28 feet below the ocean's surface. That means that the only way it can be explored is by diving or snorkeling.

underwater museum

The project began in 2009 as an effort to protect the endangered Mesoamerican Reef (the second-largest barrier reef in the world) by diverting divers and snorkelers to MUSA. 

Roberto Díaz Abraham, one of the founders of the museum, describes it as an "art of conservation." Each sculpture holds special nooks and crannies that help to support the breeding of marine life while providing a safe habitat.

Six artists helped to compose the works found in MUSA: Jason deCaires Taylor, Roberto Díaz Abraham, Salvador Quiroz EnnisRodrigo Quiñones ReyesKaren Salinas Martínez and Enrique Mireles, but a large portion of the works are by Taylor. 

Taylor models his sculptures after local residents from his nearby fishing town of Puerto Morelos and covers them with a marine-grade cement consisting of a PH neutral surface that promotes coral growth. He allows the plaster to dry before removing it and filling in the remainder of the sculptures. 

Since they're made with this marine-grade cement, the statues have become covered in algae and coral to make for a stunning sight. 

underwater museum Some of Taylor's works are a satirical commentary on humanity. He created "The Banker", a series of men in business suits submerging their heads in sand, after attending a climate change conference in Cancun.

"It represents the loud acknowledgment made about the issue, but when it comes to taking action nobody wants to stick their neck out and do something about it," Taylor said about the work. 

underwater museum Some of his works symbolize the growth of new life. "The Resurrection" was created using coral fans that had broken off during a thunderstorm in Cancun.  

underwater museum

You'll also find statues of people you might recognize. "The Anchors" is molded from the heads of Today Show anchors Matt Lauer, Savannah Guthrie, Al Roker, and Natalie Morales, and NBC News correspondent Kerry Sanders. 

underwater museum But what's most fascinating is that each of his works is built to aid in the protection and understanding of marine life. "The Ear" is a work installed with a hydrophone and hard drive. It allows researchers to study marine life via audio. 

underwater museum 1

"Anthropocene," or the Volkswagen, is made specifically for lobsters. Taylor created the piece after fisherman wiped out about 50 lobsters previously living in his "Silent Evolution" display. The car has holes to allow the shellfish to enter the sculpture, and inside it is stacked with shelving units where the creatures like to sleep. 

underwater museum MUSA offers an exploration into a world that's remained a mystery.

"Two-thirds of our world is water, but there's so much in that incredible world that's still unknown," said Taylor. 

There are two different exhibits within the museum: Salon Manchones, which holds 475 sculptures and is 8m (27 ft.) deep and Punta Nizuc, which offers a shallow snorkeling area about 4m (13 ft.) deep and a semi-submersible boat as an alternative to diving.  

underwater museum

MUSA is open year-round for public viewing, but because the diving site is protected as a conservation area, you'll need to sign up with one of the museum's selected tour guides to access the sight. Tickets cost about $60 for a two-hour tour.

If you can't make it there in person, here's some footage to mentally transport you to the stunning sight. 

 

SEE ALSO:  Here's where it's safe to travel in Mexico

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These 19 photos of people's most valuable earthly possessions will make you feel lots of feelings

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my bass guitar

Think fast: What's the most valuable thing that you own? What would you grab first if your house was on fire? More than likely, the thing you're thinking of is high in emotional (not monetary) value.

For a project called "What We Really Value," credit comparison site TotallyMoney.com asked 50 photographers in 20 different countries to give photographic answers to these very questions.

The resulting images and quotes will make you think long and hard about your own valuables. Here, we highlight a few that struck a chord with us. 

SEE ALSO: 31 stunning photos from Sony's World Photography Awards

SEE ALSO: These Incredible Works Of Art Were All Created With Apple Products

MY GRANDFATHER'S COFFEE CUP: "This is the cup my grandfather used to drink his coffee from every morning. Now I do the same."— Nikos, Pastra, Greece



A HAND-ME-DOWN MIT: "I grew up playing softball with this glove, which was given to me by my father. Today, my own son uses it."— Dyana, Wisconsin

 



A SYMBOL OF FREEDOM: "I can go virtually anywhere with [this]. Without it I am trapped."— Whitney, Stone Mountain, Georgia



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Here's what celebs like Kanye West and Cate Blanchett are seeing at the Venice Biennale

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472264676It's time to eat pasta and look at art in Venice, Italy. 

The 56th Venice Biennale International Art Exhibition opened this past Saturday, May 9th, and will run through November 22nd. Celebs like Kanye West and Cate Blanchett have already been spotted perusing the exhibition. 

Key information: Okwui Enwezor is the curator, the exhibition is titled "All the World's Futures," and 136 artists from 53 different countries are represented. 

SEE ALSO: Hollywood’s top 10 art collectors

SEE ALSO: A graffiti artist used a drone to vandalize Kendall Jenner's face on one of NYC's most visible billboards

"I SCREAM DADDIO" is one of many provocative sculptures created by British artist Sarah Lucas. (Yes, that is a cigarette you see there.) She describes the works as bringing strangeness into the sunny light of day — note the bright yellow walls.



Chiharu Shiota’s "The Key in the Hand" is visually captivating with a powerful message. Representing our ability to unlock our minds and discover our memories, thousands of keys hang from crimson threads above two wooden boats. The installation is surrounded by videos of children remembering moments in their lives.



A major player in the evolution of Moscow Conceptualism — that is, "a critical reflection on Soviet imagery"— Irina Nakhova is behind this eerie installation, part of The Green Pavilion that's made up entirely of her work. She is the first woman to represent Russia in a solo pavilion at the Venice Biennale.



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Nouriel Roubini thinks there's a lot of money laundering going on in the art market

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Nouriel Roubini

There's a lot of Nouriel Roubini news today.

First, he's cautioning people against the art market.

CNN Money reports that "Dr. Doom" said at the Milken Conference in Los Angeles, that "some people use art, especially expensive art, as a form of money laundering."

He said something similar back in January at Davos

This is probably good advice. Here's a paragraph from a New York Times story on this topic back in 2013

It is hard to imagine a business more custom-made for money laundering, with million-dollar sales conducted in secrecy and with virtually no oversight. What this means in practical terms is that "you can have a transaction where the seller is listed as 'private collection' and the buyer is listed as 'private collection,'" said Sharon Cohen Levin, chief of the asset forfeiture unit of the United States attorney’s office in Manhattan. "In any other business, no one would be able to get away with this."

In other Roubini news, if you like his thoughts on the art market (or any other market, for that matter), you can have lunch with the man himself!

Couple of things: first, the bidding is currently (as of 2 pm ET on Monday) at $500 — a relative steal of a deal considering the estimated value is $5,000.

The lunch benefits the Against Malaria Foundation.

Second, the fee to meet Roubini includes neither lunch nor the opportunity to be impolite. 'Here's the fine print: 

Valid for 1 person. Must be scheduled at a mutually agreed upon time subject to availability. Experience to take place in New York City within 1 year from the close of the auction. Please note that the winner is responsible for the cost of the lunch.

We expect all winning bidders and their guests to conduct themselves appropriately when attending an experience won at BidKind. Polite manners and respect for the generous donor and adherence to any rules or parameters are a must. Travel and accommodations are not included. Cannot be transferred. Cannot be resold or re-auctioned.

The bidding ends at 5 pm ET on Monday.

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7 photos of mid-century society's beautiful elite practicing the life of leisure

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Just in time for spring’s awakening, SoHo’s downtown Leica store is hosting a mini-exhibit of the iconic society photographer Slim Aarons. The small collection of 18 pieces uncovers a rarefied, privileged class (from the 1950s-'70s) circling around fashionable, swanky locales. 

After all, “Attractive people doing attractive things in attractive places” was Aarons' mantra.

Fittingly, this exhibit includes his revered 1970 "Poolside Gossip," which is celebrating its 45th anniversary.

 Slim Aarons

Most importantly, design and art aficionados will appreciate the rarity of two never-seen-before Slim Aarons images on display from his daughter Mary’s personal collection: one which was taken on a Bermuda beach and the other at The National Archaeological Museum in Athens, Greece. Mary’s own personal work will also be included among her father’s iconic pieces.

 Slim Aarons

The show is a three-way collaboration between Leica (Mr. Aaron’s camera brand of choice), Mary Aarons and the luxury travel outfit Exclusive Resorts. At the back of the narrow store, 23 “recreations” of Aaron’s work from professional photographers tie in neatly with Exclusive Resorts four-day photography workshops in spots like Las Vegas and the California coast. 

The notion is to point-and-shoot like Slim with the latest Leica technology in tow around the world of well-heeled, attractively sunglass-clad men and women, bright bespoke cocktails, stunning modernist architecture, retro décor and chic landscapes.

 Slim Aarons

 Slim Aarons

 Slim Aarons

 Slim Aarons

 Slim Aarons

Shoot Like Slim runs through June 30th.  The exhibit is on view and open to the public at Leica 460 W Broadway, New York, (212) 475-7799

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This painting just sold for $46.5 million at Sotheby's in New York

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Employees of Sotheby's auction house pose with US artist Mark Rothko's

A Mark Rothko painting sold for $46.5 million at a Sotheby's auction in New York, an evening in which several records were set including one for a work by German artist Sigmar Polke.

The Rothko work "Untitled, (Yellow and Blue)," measuring 2.42 meters by 1.86 meters (about 8 feet by 6.1 feet) and completed in 1954, had been estimated at between $40 million and $60 million.

The painting was once owned by American socialite Rachel "Bunny" Mellon, according to Bloomberg.

Rothko was one of the most successful and famous artists in America before he killed himself in 1970, The Guardian notes.

Sotheby's notes on its website that "few 20th-century masters have inspired greater awe and reverence in their followers than" Rothko.

"Yellow and Blue" was one of the star pieces of this evening of auctions of contemporary works, including one by Roy Lichtenstein titled "The Ring." Sotheby's had expected it would go for $50 million, but in the end it sold for $41.69 million.

Another highlight of the sale, "Abstraktes Bild" by Germany's Gerhard Richter, was auctioned for $28.25 million, just under its presale estimate of $30 million.

None of these three set a record.

But several other artists did set records for sales at auction, including Polke. His painting "Dschungel" (1967) went for $27.13 million, three times the previous price for one of his works, according to Sotheby's.

Prior to the auction it had been estimated at about $20 million — a hefty sum for an artist Sotheby's said was virtually unknown until 2011.

A huge painting by Christopher Wool, "Riot," went for $29.93 million, compared with a presale estimate of $12 million to $18 million — a record for a living American artist.

American Mark Grotjahn, 47, also broke his own record with a work called "Untitled (Into and Behind the Green Eyes of the Tiger Monkey Face)." It went for $6.52 million, twice the upper end of its initial forecast range. 

Sotheby's also sold several works by Andy Warhol, including "Superman," which went for $14.36 million (estimated at $6 million to $8 million) and "Mao" for $14.4 million. It had been estimated at $13 million to $16 million.

These estimates do not include costs and fees, unlike the final auction prices.

On Monday a Picasso oil painting, "The Women of Algiers (Version 0)," smashed records for sales at auction by going for $179 million.

It was the highest price paid for any work of art sold at auction, Christie's said.

The auction continues Wednesday in New York with sales of contemporary art at Christie's, followed Thursday with sales of impressionist and modern art.

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Why Picassos are going to keep selling for record-breaking prices

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Pablo Picasso's "Les femmes d'Alger

This week, an art collector paid almost $180 million for a single artwork by Pablo Picasso

That's a record for a public sale of art (though not close to the actual record if you include private sales).

Over at the Upshot, Neil Irwin folds this into the inequality story: the rich are getting exponentially richer, while most people see their incomes stagnating. And you can see how much richer the wealthy are getting by looking at skyrocketing art market prices: 

One of the most important findings of the leading economists who study inequality is that wealth and incomes at the very top are “fractal.” What they mean is that when you zoom in on the upper end of wealth distribution, patterns repeat themselves in an ever more finely grained pattern.

Partners at law firms who are in the top 1 percent of all earners have seen their incomes rise faster than successful dentists who are in the top 10 percent. But by a similar margin C.E.O.s of large companies who are in the top 0.1 percent are seeing incomes rise faster than those law firm partners. Hedge fund managers in the top 0.01 percent are similarly outperforming the C.E.Os.

And the kind of people who can comfortably afford to pay a nine-figure sum for a Picasso, the top 0.001 percent, say, are doing still better than that. You can draw that conclusion by reading the work of the French economists Thomas Piketty and Emmanuel Saez. Or you can form it by looking carefully at the market for the work of a certain Spanish painter.

He goes on to point out that the number of people who are able to "afford" the painting — assuming they are willing to pay "1 percent of net worth" and their net worth according to the Forbes billionaire list is correct — has increased by a lot since it was last sold in 1997. 

More very wealthy people, continuously getting wealthier, means the price for very rare luxuries are going to skyrocket. We shouldn't be surprised to see more record prices for art, jewelry, wine, classic cars, and other prized collectibles. 

At least until they go out of fashion.

SEE ALSO: That business spending boom we've been waiting for may already be happening ... literally right in front of us

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Another Rothko color-block painting just sold for millions in New York

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A visitor walks through the Mark Rothko Center in Daugavpils, Latvia, a museum in the hometown of the artist whose painting

New York (AFP) - A painting by abstract expressionist Mark Rothko sold for close to $82 million, auction house Christie's said, one day after another of his masterpieces fetched a hefty sum in New York. 

Rothko's "No. 10" sold for $81.92 million at an auction of post-war and contemporary art at Christie's Wednesday, nearly twice its estimated value. 

The sale fell short of the most-ever paid for one of his works: $86.88 million for "Orange, Red, Yellow," which sold in 2012. 

"No. 10" was one of several works auctioned Wednesday, with German-British Lucian Freud's "Benefits Supervisor Resting" oil of a full-figured nude woman sleeping on a sofa fetching $56.16 million. 

Pop art icon Andy Warhol's exuberant "Colored Mona Lisa," silkscreen inks and graphite on canvas, earned the same amount.  

The haul for Rothko's "No. 10," an oil work of deep and rich shades of red, follows another sale on Tuesday of his "Untitled, (Yellow and Blue)," which earned $46.5 million at Sotheby's in New York. 

Earlier this week, a Picasso masterpiece and a Giacometti statue smashed world records for the most expensive art sold at auction, fetching more than $179 million and $141 million respectively.

Rothko, who died in 1970, became a giant of the modern art world through his characteristic style: a seemingly simple but arresting juxtaposition of blocks of color.

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This artist just did something incredible with clay

8 reasons to go to the Frieze Art Fair this weekend in NYC

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On Thursday, the Frieze Art Fair opens in New York on Randall's Island Park.

From May 14–17, fairgoers can check out a giant tent full of contemporary art. But that's not all you can do while there.

Below are eight reasons why it's the perfect weekend activity.

1. Richard Prince's Instagrams:

In September, artist Richard Prince debuted his new show at the Gagosian Gallery — 38 real-life Instagrams inkjet-printed on 48-inch by 56-inch"canvas. You can check out the much buzzed-about works below, which are reportedly going for up to $100,000.

Frieze Art Fair 2015Frieze Art Fair 20152. Interactive Art:

At gallerist Gavin Brown's stall, willing fairgoers are given a small square canvas, brushes, and black paint to create an eight-inch circle as part of American artist Jonathan Horowitz's work.

"The results are being sold in groups of 100, each priced at $100,000," reports Art News, which also noted that Leonardo DiCaprio was interested in the piece during a VIP preview.

Frieze Art Fair 2015Artist Korakrit Arunanondchai has installed denim massage chairs speckled with paint. Fairgoers are invited to sit in the chairs, as long as they take their shoes off.

Frieze Art Fair 2015Artist Martha Araújo invites festivalgoers to put on a velcro suit and jump around on a quarter-pipe, trying to stick in various positions.

Frieze Art Fair 2015A woman lays beneath a bedazzled Kris Lemsalu turtle shell for hours on end.

Frieze Art Fair 2015

3. People Watching:

Frieze Art Fair 2015frieze art fairart fair4. Celebrity Sightings:

You're never sure who you will run into. Last year, Eva Longoria and Nicky Hilton were both in attendance.

eva longoria art fairNicky Hilton5. The Food:

Some of New York's most beloved restaurants have pop-ups at Frieze: Court Street Grocers, Dimes, Frankies Spuntino, Marlow & Sons, Milk Bar, Morgenstern’s Finest Ice Cream, Parlor Coffee, Prime Meats, and Roberta’s Pizza will all be participating this year.

frieze foodFrieze Art Fair 2015Just be prepared to pay more than usual.

Frieze Art Fair 20156. The Gift Shop:

There are tons of great art books waiting to be displayed on your coffee table.
 gift shop

7. The Great Outdoors:

The best way to get to the fair is by ferry, especially on a nice day.

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The fair is located on beautiful grounds, and there is plenty of space to lay out on the lawn. 

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8. And of course, the selfies:

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SEE ALSO: The 40 Most Outrageous Works We Saw At Art Basel Miami Beach

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We're now in the 'everything bubble'

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bubble

Everything is overvalued. Stocks are extremely overvalued. An incredible amount of bonds have negative yields; how much more overvalued can they get? Investment-grade and high-yield credit spreads are near all-time lows on top of some of the lowest rates we’ve ever seen! Prices for high-end real estate, art and other collectibles are off the chart. I’ve thought of calling this the “everything bubble,” because looking at each one on its own (outside of small cap stocks which are largely obscured from view) there’s no obvious bubble similar to the dotcom or real estate bubbles. But taken together we’ve never seen anything like this ever before.

I believe the real problem lies in the growth of “price-insensitive buyers,” as GMO recently labeled them. I’ve also called them “value agnostic.” Ultimately, there’s a growing class of investors (though I believe they don’t deserve that term) who are buying assets like stocks and bonds regardless of their valuations. They will buy stocks to the moon simply because their methodology dictates they do so. I’m referring mainly to so-called “passive” investors here.

Then we also have investors who will buy bonds no matter how negative they get because their methodology dictates it. Just look at pension funds, insurers and central banks. Their policies ensure they continue buying bonds even when that means locking in deeply negative returns over long periods of time.

The incredible growth in this class of price-insensitive buyers is responsible for the everything bubble. Just think about the growth of passive investing over the course of just the past five years or so. Buy and hold has gone from being mocked and disparaged only five years ago to the most popular investment style there is. Witness the growth of robo-advisors as evidence. And how long have central banks been buying assets? It’s only been over the past five or six years. This is a wholly new phenomenon in the markets and it’s now become a huge segment.

Make no mistake. The incredible growth of “value agnostic” investors is just another form of mania pushing asset prices to extremes. These investors use their returns over the past five years as proof that their methodology has merit when simple common sense shows that you can’t possibly be an investor while denying the definition of an “investment,” as Ben Graham defined it:

An investment operation is one which, upon thorough analysis, promises safety of principal and an adequate return. Operations not meeting these requirements are speculative.

Buying stocks or bonds today provide neither “safety of principal” nor “adequate return.” In fact, these “price-insensitive buyers” don’t even attempt to begin any sort of “thorough analysis.” For this reason they are nothing more than speculators. That they believe themselves to be otherwise despite the obvious fact that they are just the opposite may be the surest sign there is that this is indeed another mania. Sadly, it will only be evident to them in hindsight.

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Art world's most Instagram-famous dog turned away at Frieze Fair

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Pickle, the art world's favorite canineis typically welcomed into gallery openings, parties, and fairs with open arms, but it looks like the Instagram-famous pooch didn't fare so well at New York's Frieze Art Fair.

The dog, who is owned by art advisor Katie Howard, was spotted by our team in March at the Armory Show. However, this week Pickle was turned away from the fair on Randall's Island on account of her four-legged status.

In protest, Howard posted a picture of the French bulldog making a frowny face on the lawn outside the fair to her 5,000+ Instagram followers with the hashtag #LetPickleIn.

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The caption reads: "This is the face I make when I'm bummed about not going to Frieze." Fellow social media sensation Jerry Saltz has been tagged in the post, though the New York magazine art critic does not appear to have spoken out about Pickle's predicament. Perhaps Saltz can pull some strings and help the pup get into his talk tomorrow? 

We're assuming whoever turned the dog away was blithely unaware of her celebrity status — or was concerned the dog would damage the millions of dollars worth of art in the tent.

Luckily for Pickle (and Howard), that's never happened. "The only reason I can do it is because she is so well behaved," Howard told the Daily Beast. Living in a studio space shared by Howard and her fiance, artist Nat Ward, "she grew up knowing that things are very delicate."

Fortunately, the week hasn't been a total bust for Pickle, who posed for pictures at Jack Shainman, Anton Kern, and the arty nail salon Vanity Projects.

Follow artnet News on Facebook and @caitmunro on Twitter. 

SEE ALSO: Tender photos show the special bond between dogs and their owners

SEE ALSO: 8 reasons to go to the Frieze Art Fair this weekend in NYC

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New York's spring art auctions have raked in $2.6 billion

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Auctioneer Jussi Pylkkanen takes bids on the Picasso masterpiece

New York (AFP) - New York's spring art auctions have always meant big money but this season has seen numerous records smashed and more than $2.6 billion coughed up in 10 days of eye-watering extravagance.

Christie's said it sold works totaling $1.72 billion this week in New York and rival auction house Sotheby's reports $893 million in sales since May 5 -- in all a 25 percent surge on May last year, driven in particular by Asian collectors.

May 11 saw two new world records in just a dizzying few minutes.

The Pablo Picasso oil painting, "The Women of Algiers (Version 0)," sold for $179.4 million after 11-and-a-half minutes of furious bidding from four to five prospective buyers at Christie's, where two auction rooms were packed.

It was the highest price for any work of art sold at auction, Christie's said, but fell short of the $300 million reportedly paid privately by Qatar for Paul Gauguin's painting "When Will You Marry?" in February.

Just moments later, a bronze statue by Swiss artist Alberto Giacometti, "Man Pointing," broke the record for the most expensive sculpture sold at auction, fetching $141.3 million.

Other world auction records were set for works by artists Cady Noland, Jean Dubuffet, Diane Arbus, Chaim Soutine and Peter Doig, Christie's said.

The auction house listed the buyers as anonymous but said clients from Asia, the Gulf, Russia, Europe and the United States had competed for the top 10 lots of the sale.

New York art auctions Christie's Sotheby's

Overall, bidders came from 35 different countries, it said.

The next day saw more of the same.

A Mark Rothko painting sold for $46.5 million at Sotheby's, an evening in which several records were set including one for a work by German artist Sigmar Polke.

A huge painting by Christopher Wool, "Riot," went for nearly $29.9 million, compared to a pre-sale estimate of $12 million to $18 million -- a record for a living American artist.

On Wednesday, abstract expressionist Mark Rothko's "No. 10" sold for $81.9 million at Christie's, one of the highest sums ever shelled out for his work. 

On Thursday, again at Christie's, a painting by Dutch artist Piet Mondrian sold for nearly $50.6 million, the most ever paid for his work. 

New York art auctions Christie's Sotheby's

Exploding demand

The die was cast on May 5 when a Vincent van Gogh painting fetched more than $66 million, the most paid for a work by the Dutch post-impressionist artist since 1998.

According to Sotheby's, "Les Alyscamps," which depicts a stand of autumnal trees, had been expected to go for around $40 million but ultimately an Asian collector paid $66.3 million after an intense bidding war between five potential buyers.

New York art auctions Christie's Sotheby's

The Chinese conglomerate Dalian Wanda Group also snapped up a Monet, "Bassin aux nympheas, les rosiers," for $20.4 million, underlining the growing influence of Asian buyers.

Simon Shaw, co-head of Sotheby's Worldwide Impressionist & Modern Art department, stressed the international dimension. 

"With winning bids executed by our Old Masters and contemporary art specialists, as well as by our chairmen in Asia and America, it's clear that today's collectors come from all corners of the globe and seek quality in all corners of the market," he said.

New York art auction Christie's Sotheby's

Underlining that assertion, screens at Christie's gave prices during sales earlier this week in seven different currencies: dollars, euros, pounds, Swiss francs, yen, Hong Kong dollars and Russian rubles.

Exponential growth in the art market, particularly for modern and contemporary works, is attributed to a growing number of private investors around the world and burgeoning interest in Asia and the Gulf.

The growing number of museums in the world and specialized investment funds are also driving up prices, experts say.

More than 720 museums that are over 54,000 square feet (5,000 square meters) will open this year across the globe, pushing demand, said Thierry Ehrmann, CEO of Artprice, a world leader in art market data. 

"If a museum acquires a set of masterpieces it will very quickly get a return on its investment," he said.

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