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Skull Painting by Jean-Michel Basquiat Sells for Nearly $111 Million

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Jean-Michel Basquiat began his career as a humble New York street artist in the late 1970s—but a recent record-breaking sale at Sotheby’s auction house ensured that the painter’s name will be mentioned in the same breath as Pablo Picasso, Francis Bacon, Andy Warhol, and other modernist greats.

As The New York Times reports, a 1982 work by Basquiat—a scrawling, large-scale painting of a skull—fetched nearly $111 million at a contemporary art auction last night, cementing its creator as one of America’s highest-grossing artists. The untitled painting’s new owner is Yusaku Maezawa, a Japanese e-commerce billionaire who collects art.

As CNN reports, Maezawa is constructing an art museum in the city of Chiba, near Tokyo. In the past year, he’s shelled out $230 million for works of contemporary art to place on display. One of them was another untitled Basquiat painting, which the entrepreneur purchased from Christie’s in May 2016 for more than $57 million. (That deal marked a previous auction high for Basquiat, which Maezawa has now broken on his own.)

Both Basquiat works will go in Maezawa’s new museum—but before placing his newest purchase in its permanent home, he plans to loan it to institutions and exhibitions around the world. "I hope it brings as much joy to others as it does to me, and that this masterpiece by the 21-year-old Basquiat inspires our future generations,” the collector said in a statement [PDF].

That said, the skull painting’s price—not its new owner—is what’s making headlines. The work was last sold in May 1984 for $19,000, and has been “virtually unseen” since then, according to Sotheby’s. But on May 18, the painting became the most expensive work produced by any American artist, and the sixth most expensive work ever sold at auction. It set other records, too, including highest price fetched for any artwork by an African-American artist.

Basquiat—who died from a drug overdose when he was 27 years old—achieved fame during his short lifetime. But several decades after his death, his vision is more poignant than ever: In 2016, the artist became the highest-grossing American artist at auction, after 80 of his works sold for nearly $172 million. And now, he’s entered a new league of fame.

“Here he is, blazing a trail not only in terms of the market but also in terms of how his work is perceived more widely,” African-American artist Adam Pendleton told The New York Times. “It speaks to the broader elements of American culture. And what a powerful moment to have that happen.”

[h/t The New York Times]

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This Jeans-Inside-Your-Jeans Look Will Cost You $695
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Natasha Zinko

Besides a few updates here and there, the classic style of denim blue jeans hasn’t changed much since the late 19th century. Now, a London-based fashion designer wants to disrupt the wardrobe staple. Their revolutionary new idea? A second waistband sewed on top of the first one.

According to Mashable, these high-waisted double jeans from Natasha Zinko are retailing for $695. Wearing the pants makes it look like you forgot you already had jeans on and put on a second pair on top of them. But buying two pairs of designer jeans to wear at once would probably be less expensive than owning this item. The double jeans are actually one garment, with the high-waisted inner pair stopping at the hips. Boasting seven pockets, they’re not entirely impractical, but having to undo two sets of buttons and zippers sounds like more trouble than it’s worth.

Model wearing double jeans.
Natasha Zinko
There is a market for high-end blue jeans disguised as fashion crimes, as Nordstrom proved earlier this year with their $425 pants covered in fake dirt. The Natasha Zinko double jeans have already sold out on shopbop.com.

[h/t Mashable]

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This Just In
Want to Become a Billionaire? Study Engineering
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If you want to get rich—really, really rich—chances are, you should get yourself an engineering degree. As The Telegraph reports, a new analysis from the UK firm Aaron Wallis Sales Recruitment finds that more of the top 100 richest people in the world (according to Forbes) studied engineering than any other major.

The survey found that 75 of the 100 richest people in the world got some kind of four-year degree (though others, like Bill Gates and Mark Zuckerberg, attended a university but dropped out before graduation). Out of those who graduated, 22 of those billionaires received engineering degrees, 16 received business degrees, and 11 received finance degrees.

However, the survey doesn't seem to distinguish between the wide range of studies that fall under the "engineering" umbrella. Building a bridge, after all, is a little different than electrical engineering or computing. Four of those 100 individuals studied computer science, but the company behind the survey cites Amazon's Jeff Bezos (who got a bachelor's degree in electrical engineering and computer science from Princeton) and Google's Larry Page (who studied computer engineering at the University of Michigan and computer science at Stanford) as engineers, not computer scientists, so the list might be a little misleading on that front. (And we're pretty sure Bezos wouldn't be quite so rich if he had stuck just to electrical engineering.)

Aaron Wallis Sales Recruitment is, obviously, a sales-focused company, so there's a sales-related angle to the survey. It found that for people who started out working at an organization they didn't found (as opposed to immediately starting their own company, a la Zuckerberg with Facebook), the most common first job was as a salesperson, followed by a stock trader. Investor George Soros was a traveling salesman for a toy and gift company, and Michael Dell sold newspaper subscriptions in high school before going on to found Dell. (Dell also worked as a maitre d’ in a Chinese restaurant.)

All these findings come with some caveats, naturally, so don't go out and change your major—or head back to college—just yet. Right now, Silicon Valley has created a high demand for engineers, and many of the world's richest people, including Bezos and Page, earned their money through the tech boom. It's plausible that in the future, a different kind of boom will make a different kind of background just as lucrative. 

But maybe don't hold your breath waiting for the kind of industry boom that makes creative writing the most valuable major of them all. You can be fairly certain that becoming an engineer will be lucrative for a while.

[h/t The Telegraph]

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