What's the budget for my next auction living room?

I was looking at NY Spaces Magazine on line. They often have lots of cool modern apartments.

Interior Design: William Diamond and Anthony Baratta

Great shapes and colors in this room. The coffee tables have real interest and they mirror the shapes of the white chairs. I like the abstract painting above the fireplace to pull the blues in the room together. 

Interior Design: Daniel Barsanti

The credenzas flanking the doorway with the wonderful abstract graphic paintings in black and white are very cool. The dark woods are offset by the blue upholstery on the sofa and chair.

I am excited by the next Doyle + Design auction September 28th. This auction is usually packed with modern designs, and this time does not disappoint. I thought I'd try to create a living room in a modern style and see what I would need for a budget. 

I know it's an auction, and one can't completely predict the final cost, but some items will come in under the estimates and some will come in higher, so I chose the middle. Could actually be reasonable setting an overall budget. Anyway, here goes!

Start with a sofa and side tables:

Lot 182

Lot 153

The sofa is designed by Terence Harold Robsjohn-Gibbings circa 1950. It has an estimate of $4,000 - $5,000. Thus this is $5,000 of our budget. A big chunk, and I might consider buying a Room and Board sofa for $1,800. 

The pair of tables are very reminiscent of the ones in the photo at the top. These are art deco style and made of mahogany. They have an estimate of $700 - $1,000. Thus we will spend $850 on these. 

Let's add some lamps on the tables:

Lot 108

I love these 20th century alabaster lamps on an ebonized wood base. Obviously we will need shades. These have an estimate of $600 - $900, and thus our budget is $750. 

Let's add two chairs to balance the sofa:

The chair on the left above is Lot 101. It was designed by Terence Harold Robsjohn-Gibbings circa 1950 - the same as our sofa. I like the sleek lines. The estimate of $800 - $1,200. Our budget is $1,000.

The chair on the right is a modern classic. Lot 179 is a Charles and Ray Eames design from 1956. The ottomon adds flexibility and can be used as additional seating. This has an estimate of $2,000 - $3,000. Thus our budget is $2,500.

Add this table between the chairs that is similar art deco style as the side tables. It's French 20th century and has an estimate of $600 - $900. It adds $750 to our budget.

So far we've 'spent' $10,850. If we buy another sofa, we can lower this to $7,650. 

But we need more decoration.

We need a good abstract painting. I like this one by Armando Villegas painted in 1966. This will add color and a wonderful focal point. It's 36.25" x 40" and has an estimate of $1,500 - $2,500. Thus it's $2,000 on our budget. 

I would then add an etagere to display my collections. This one will look great against a wall behind the chairs. This is a 20th century design and is brass and walnut. This is Lot 104 and has an estimate of $800 - $1,200 and thus will add $1,000 to our budget.

Now we need an 'instant collection' for our etagere. This is a group of five earthenware vases by Ka Kwong Hui (1922 - 2003) and has an estimate of $800 - $1,200. I think these are very interesting a graphic. They are chic earth tones, and you just need to add a few books and photos to your etagere and you're set to go! These add $1,000 to our budget. 

We've now 'spent' another $4,000. It's critical to think through the decoration as well as the furniture. It add color and personality. So depending on what we decide about the sofa, we've 'spent $11,650 - $14,850.

I think this budget would buy us a wonderful modern living room with a number of interesting and unique pieces and wonderful art work. What do you think?