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Marc Newson’s Lockheed Lounge Chair Set to Auction to Test ‘Design as Art’ Market

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Do you have a million dollars on you right now? Have you been standing for a long time and your legs are getting a tired? If you answered yes to both, we have the perfect opportunity for you. Marc Newson‘s Lockheed Lounge chair will be heading to auction soon in London, largely used to test the waters and see if the design-as-art market is still alive and kicking or if most buyers are keeping their purse strings tightly sealed. Other copies of Newson’s chair, which was used in Madonna‘s music video, Rain, giving it some extra cache (though with whom we’re not entirely sure), were sold back in 2006 and 2007, setting records for the work of a living designer. So, with those pre-bust numbers in hand, it’s been decided that it should go up to bat once more, apparently the perfect chance to see who is still out there looking for chairs that cost a million dollars:

“It’s the seminal piece of contemporary design,” Kenny Schachter, a London-based dealer in contemporary art and design, said in an interview. “Everything in the market is measured against this. It’s traded as regularly as an IBM share.”

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