Having lived in a tiny New York city apartment, our urge to have people over was often at odds with the size of our common space. It's hard to squeeze more than three people onto a futon, and those folding metal chairs are easy to store, but kind of tacky.

Enter the Knock-Down/Drag-Out Chair: a beautiful, stowable alternative that comes in natural wood or this hot Chinese Red. It's modern and collapsible, and can be assembled in 15 seconds, which is good because you'll need to sit down after dropping $375 for this pretty piece.

Knock-Down/Drag-Out Chair, Cherry Red ($375) [2modern via Outblush]