"Dragons" armchair sold for €21,905,000 in 2009, establishing a new record for a piece of 20th century decorative art.
It measures 61 by 91 cm.
The chair was described by auctioneers Christie's as being:
Christie's additionally felt that the chair "...distills all that was so personal and so magical in the first, intimately expressive phase of Miss Gray's career — surprising, imaginative, subtly sculpted and crafted, it is a masterpiece of invention and execution."
Jennifer Goff, the curator of the National Museum of Ireland's permanent exhibition of Gray's work, felt that the chair was the "perfect example of the designer who created it – completely unique [and] rather eccentric".
The dragon imagery and clouds depicted on the chair have been likened to those found in the iconography of traditional Chinese art, and the flowing nature of the ornately carved armrests have been compared to a "sea monster" and given the chair its "Dragons" moniker.
Gray worked on the chair between 1917 and 1919, lacquering the piece by hand and letting the lacquer set in her humid bathroom before spending days polishing the piece.
The chair's first owner was Gray's patron, Suzanne Talbot.
It was acquired by Parisian art dealer Cheska Vallois in 1971 for $2,700 and then sold by Vallois to the French fashion designer Yves Saint Laurent in 1973.
It sold for €21,905,000 against a pre-sale estimate of €2-3 million, establishing a new record for a piece of 20th century decorative art.
The price beat the previous record by $22 million.
The 2009 buyer of the chair was once again Cheska Vallois who later said that the cost of acquiring it was "the price of desire".
Credits to the contents of this page go to the authors of the corresponding Wikipedia page: en.wikipedia.org/wiki/"Dragons" armchair.