Design-Art is a new marketing construct created by the big auction houses to boost the sales of one kind or limited edition pieces often created by Designers. Much like in the "Art" world the value for a work is created by a few well-heeled, self-appointed purveyors of taste whose opinions can create interest were there was none the day before.
Marc Newson's Lockheed Lounger (pictured) fetched just shy of $1 million at a Chirsite's auction, making it the high price piece sold by a living designer.
For this designer, this new phenomenon will make it a little more difficult to educate the uninitiated as to what design is and the value of good design to life and culture.
Business week Article