Opinion / Christopher Lord
Market value
I’m in New York this week trying to see as much design as I possibly can. NYCxDesign, which begins tomorrow and runs until 23 May, invigorates the gallery scene across the city every year, with special exhibitions that take me everywhere from Brooklyn Metal Works to the once-desolate Hudson Yards neighbourhood in search of fine furniture. There is energy in the air and it’s exciting to see that the revival of Tribeca as a gallery quarter continues apace. Even though the collectable design market is growing, however, many gallerists question whether the hubbub will translate into actual sales and momentum for their designers.
Meanwhile, the International Contemporary Furniture Fair kicks off in Hell’s Kitchen at the weekend (see our story on its rebranding below). Now in its 35th year, the event is a fine barometer of whether buyers are feeling flush or flaky. It is the entry point to the US market for many global design brands, with 450 exhibitors from 35 countries taking part. This year’s fair has a section dedicated to Portuguese studios, especially those with a strong woodworking tradition such as Lisbon’s Daao or Porto’s Duisst. But the forum’s focus is as much on visuals as it is on sales, with pieces pitched at architects and interior designers who are looking to give their next fit-out some flair.
On the West Coast, Design Miami’s first foray into the Los Angeles market kicks off tomorrow. Opening a new fair on the same day that NYCxDesign begins is a bold move. But Jesse Lee, Design Miami’s owner and founder of online marketplace Basic Space, believes that he can attract new collectors to the participating galleries hosted at the Holmby Hills Private Estate. “There are a lot of people here with money, who want to spend on their beautiful homes, especially as Los Angeles expands,” he told me. There is certainly no shortage of design events in the US this spring – and, by the end of the week, we’ll find out whether the market can keep pace.
Christopher Lord is Monocle’s US editor. For more design and analysis, subscribe to Monocle today.