NEWS///MARC NEWSON’S LOCKHEED LOUNGE CHAIR BUMPS FINE ART SALES DECLINE, SETTING $1.6 MILLION AUCTION RECORD

May 4, 2009  |  art, Art & Commerce, Design, London, News

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Madonna relaxes on Newson's "Lockheed" on-camera in 1993. Amazingly, this fact hasn't hurt the chair's value...

Supertouch buddy and upcoming "Stages" art show participant MARC NEWSON created his iconic "Lockheed Lounge" chair 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 at PHILLIPS DE PURY & CO 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...

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