News from last night’s Black Ball, hosted by Bono and hopefully only the latest step in bringing medicine, education, and relief to AIDS stricken areas:

The latest Product (RED) extension isn’t another clothing line -

It’s an art gallery.

On Valentine’s Day, 2008, Damien Hirst and Jeff Koons will host a Sotheby’s auction, with all proceeds from the art going to The Global Fund to fight AIDS, tuberculosis, and malaria.

We think it’s a pretty amazing idea, and we expect to see millions raised for the fund. But if you can’t buy an expensive art piece and still want to give, we’re also huge fans of the Buy Less Crap philosophy that shopping is fun, but sending money directly to charities you support is the most efficient way to go.

That said, if you need a new pair of sneakers, we think the Converse (RED) ones are pretty cute, so you might as well go with those.. and wear them to Sotheby’s.