Part 2: The Rapid Convergence of Art and Design (2)
Design
May 15, 2015

Part 2: The Rapid Convergence of Art and Design (2)


The Rapid Convergence of Art and Design (2)


Modern design began appearing in major auctions about a decade ago.
Initially, it appealed only to a niche group of enthusiasts and collectors, but it soon became a status symbol among certain celebrities, sparking interest among the general affluent population.
Furthermore, the proliferation of open online auctions like eBay has dramatically changed the profile of design auction bidders.
These bidders began acquiring pieces not based on market value, but on what they were willing to pay for personal satisfaction. This has led to design objects being traded at prices far exceeding previous benchmarks, reaching levels comparable to fine art.


Photo: Jamandfix





The chair on the cover was sold for 100 million yen.
SOTHEBY'S "IMPORTANT 20TH CENTURY DESIGN" NEW YORK June, 2006 Auction Catalog


MARK NEWSON Exhibition Catalog (Published by GAGOSIAN GALLERY) 2007 (With material assistance from ELMO LEWIS)




Design and Art Become Big Business


A record-breaking event occurred last summer.
Marc Newson's Lockheed Lounge, produced in a very limited run in 1986, was sold for approximately 100 million yen. This same piece was previously sold for 1.8 million yen by IDEE in Japan.

Then, in January of this year, the Gagosian Gallery in New York, which championed artists like Damien Hirst and led the art scene in the 90s, held an exhibition of Marc Newson's work.
This marked the first time a gallery at the pinnacle of the fine art world decided to handle design. This event truly cemented the convergence of design and art.

Gagosian commissioned pieces using luxurious materials like marble, catering to the tastes of their wealthy clientele. Despite each piece costing tens of millions of yen, they sold out rapidly.
Recently, design auctions have generated nearly 2 billion yen in revenue per event—a significant increase from the previous 200 million yen, with little change in the number of items offered. Design has undeniably become an art business, both in name and in practice.