Charles Rex Arbogast, Associated Press
CHICAGO Can you put a price on a good night's rest?
Betting weary-but-wealthy baby boomers are willing to do just that, mattress companies are fluffing up their selections of ultra-luxe beds that retail for more than the cost of cars, college tuition and parcels of land.
With a heart-stopping price tag approaching $50,000 $49,500 to be exact, although the price will climb to $59,750 in April the Vividus bed launched last year by the Swedish manufacturer Hastens is among the most expensive sold in the United States.
But the Vividus, which means "full of life" in Latin, is just the latest bed to target a growing consumer appetite for high-end beds made from materials such as latex, flax, memory foam, silk, cashmere, lambswool and hand-tufted horse hair.
"If you could have beautiful, incredible sleep, what's that worth?" said David Perry, bedding editor of the trade publication Furniture/Today. "The whole idea is pamper yourself, you're worth it, go for it, live the dream, sleep on a cloud. That has some appeal."
Since 2000, the market value of the wholesale mattress industry has increased nearly 40 percent, climbing to $6.4 billion in 2005, according to the trade group International Sleep Products Association.
But it's the luxury market that's behind much of the trend. Premium-priced mattresses those costing more than $1,000 were 21 percent of sales in 2005, the latest data available, up from 14 percent in 2000.
Furniture/Today says the figure may be even higher. According to the magazine's survey of shoppers, about 56 percent of dollars spent on bedding went for products that cost more than $1,000. That's up from 37 percent in 2000, according to the magazine's survey.
Meanwhile, the average cost of a queen-size bed has grown to about $700, up from $600 five years ago, experts said.
But some people are willing to pay much, much more.
Less than a dozen handmade Vividus mattresses have been sold worldwide since July, but customers are increasingly buying "cheaper" models that cost up to $20,000, said Mary Pat Wallace, owner of Hastens' Chicago store that began selling the Vividus last month. The company opened U.S. stores five years ago and has had a 66 percent increase in sales annually the past four years.
Hypnos, a rival British company that touts its lineage as the official bed supplier to the royal family, sells beds for between $8,000 and $20,000. It expects U.S. sales to continue growing at a rate of about 20 percent a year.
"We've been looking for an opportunity to get into this market, but up until five years ago, we didn't see there was a desire or a need for the upper-end product," said Adrian Jones, director of sales for Hypnos USA, which has its U.S. factory in Gallatin, Tenn.
Does paying a small fortune for a bed ensure the perfect snooze? It depends who you ask.
Chicago attorney Charlotte Wager, 42, has spent more than $13,000 in the past three years to buy Hastens mattresses for herself and two of her children. Wager said she likes the beds and their 25-year warranty so much that she's considering buying two more for her older children.
"You want to be able to go to bed at night and rejuvenate and rest and recuperate," Wager said. "And to me, the mattress is an investment in that."
Michael King, a mattress buyer for the Macy's department store chain, attributes the fivefold increase in the price of top-end beds sold by his company to consumers' heightened awareness of the importance of rest.
"They're investing more in their home in general and they're thinking about sleep in a different way," King said. "It's connecting health and sleep in one, instead of just looking at sleep as something they do every night."
- Many Mormon missionaries who return home...
- 50 things you might not know about 15 of your...
- Amish school shooter's kin: Horror, then healing
- Central African Republic mobs launch ethnic...
- Report: German president boycotting Sochi...
- Purge sends chilling message to North Korea's...
- Food-tech startups aim to replace eggs and...
- The American Dream is still alive for 20...
- Judge orders Colo. cake-maker to serve... 111
- Many Mormon missionaries who return... 108
- Utahns react to death of Nelson Mandela 27
- Space and religion: How believers view... 20
- Obama administration will allow green... 17
- Expelling Santa from school? Holiday... 16
- 'Sound of Music' alive for 18.5 million... 13
- TV Review: Broadway wins in live 'Sound... 12