But Does It Spark Joy?

Taking a cue from the art market, more new design is being described as collectible. Some say that's not right for makers or the industry.

- By Rima Suqi

One can't get away from the phrase collectible design these days. These two deceptively simple words joined forces nearly 20 years ago and have since gained steam, spawning a contemporary design market with an increasing number of galleries offering pieces touted as collectible and the rise of a collector class wanting to be affiliated with this much-hyped movement.

Historically, collectible implied scarcity or provenance, and with vintage or antique pieces, scarcity was often a given, even if said works were originally mass-produced. But when it comes to contemporary furniture and accessories by living designers, it's become a loaded word, implying that these pieces are worthy investments that will increase in value. But often the appreciation doesn't occur for decades, if at all, and the secondary market for contemporary design is virtually nonexistent. Cordelia Lembo, head of the New York design department at Phillips auction house, confirmed that "many successful active contemporary designers have yet to establish a secondary market and therefore appear less frequently at auction."