Take a Seat

With the contemporary-art market booming, limited-edition furniture has a whole new cachet

"The days of people hanging important paintings on the wall and then sticking a re-edition Barcelona chair in front of them are over," says Reed Krakoff, creative director of Coach. Krakoff is talking about the growing interest among art collectors and design aficionados like himself for limited-edition 20th century and contemporary design.

Sitting in his loftlike Manhattan office amid stacks of auction catalogs, art monographs and fashion books, Krakoff points to his Marc Newson Event Horizon desk, one of only eight in the world. (He also has a carbon-fiber-and-corrugated-paper Ron Arad desk.) "It's as much sculpture as it is functional," he...

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