The metal Lounge chair sold today for 1.1 million pounds ($1.6 millon) at Sotheby's London breaking all previous records for the "Art-Design" sector.
The chair was used in Madonna's music video, Rain, which could have played a small part in the fantastic price paid for the piece. The futuristic chair called the "Lockeed Lounge" was created in 1986 by famed Australian designer Marc Newson. Was it a fluke? Not hardly. While this was the most ever paid, another version of the "Lockheed Lounge" brought $968,000 in 2006 and another for 748,500 pounds in 2007.
"It's the seminal piece of contemporary design," says a London-based dealer in contemporary art and design. He adds "Everything in the market is measured against this."
I suppose people do need a place to sit...
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