Word: newson
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...market for rare contemporary design is suddenly in the spotlight as collectors like Krakoff flock to auctions and art shows to snap up coveted limited-edition pieces. And the works of contemporary-design stars like Arad and Newson are beginning to surface in art galleries...
This past January, Larry Gagosian, an art-world kingpin, showed a collection of limited-edition Marc Newson furniture at his Chelsea gallery in New York City. Five years ago the big names everyone was talking about were Jean Prouvé and George Nakashima, but today a raft of living designers--many of them industrial designers by trade--is catching the wave of the booming contemporary-art market. Their success may have to do with their uniqueness, but their work has also been called sexy and easy to like. "Newson has married technology to creative ideas, and he has captured a look...
...also getting incredibly expensive. Last June a prototype of Newson's aluminum Lockheed Lounge, perhaps the most iconic piece in the post-1985 contemporary market, fetched $968,000 at Sotheby's in New York City--the highest price ever paid for the work of a living designer. According to James Zemaitis, director of 20th century design at Sotheby's, the average price for a piece at the auction house's December show, the biggest of the year, was $30,000. But based on the current interest in the market, Zemaitis estimates that over the next few years a rare piece...
...your own personal museum," he explains. And in that "museum," the object you sit on has to be as important as the art on the walls. Meyers estimates that 90% of the people collecting design are contemporary-art collectors. "The art world is eating us up," he says. "Marc Newson didn't go to Gagosian and say, 'Give me a show.'" Zemaitis also predicts that more art galleries will start going to design shows...
...loved the idea that they were people working in today's vocabulary. I wanted to collect things of my time--which was a necessity anyway because everything else was astronomically expensive," Krakoff says. More recently he has been buying pieces by Newson, Arad and Claude and François-Xavier Lalanne--for whom he organized a show and published a book last year...