Overvalued/Undervalued: The Frieze-Week Auctions

Undervalued
It feels almost crazy to say it, but Newson’s streamlined and riveted aluminum masterpiece looks poised to rise in value, stubby legs and all.

Though the low estimate is well above the current record of just over $1 million for "Pod of Drawers," which sold at Christie’s New York Post-War and Contemporary evening sale in May, this Lockheed objet, from an edition of 10 and dating from 1985, is already a postwar design icon and therefore a great buy. Dealer Ramis Barquet bought a prototype version for a then-record $968,000 at Sotheby’s New York in June 2006 and flipped it at Art Basel Miami Beach that December for around $2 million. That was months before Newson’s sell-out debut of his heavyweight, but vapid, marble furniture at Gagosian in New York.

This is just the thing for some art-and-design-mad Russian oligarch.



Marc Newson, "Lockheed Lounge" (1986)
Est. £800,0000–1.2 million/$1.6–2.4 million
Lot 10, Double Vision, Christie's, October 14

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