Marc Newson’s Lockheed Lounge Chair Bumps Fine Art Sales Decline, Setting $1.6 Million Auction Record

The “Lockheed Lounge” chair was created in 1988 and in recent years it has become the most famous piece of designer furniture to ever change hands at auction. Last week saw an artist proof of the silver aluminum chaise lounge that previously belonged to the artist’s mother (and once made an appearance in Madonna’s 1993 “Rain” music video) close out the design auction in London for a record $1.6 million USD, a new record for a piece of design furniture. The chair broke its own sales record previously established at a 2007 Sotheby’s auction when the chair brought in $968,000 USD. Amazingly, the design world has managed to buck the massive sales slump currently facing the art world with resale values remaining virtually undiminished and demand for stellar pieces consistently high. Maybe the fact that it’s art you can actually helps justify the splurge in a downturn…

 via Supertouchart.com

This entry was posted on Friday, May 8th, 2009 at 9:28 pm and is filed under Art. You can follow any responses to this entry through the RSS 2.0 feed.