That's a simple saddle-arm sofa - They're available from almost every traditional furniture manufacturer:

Bernhardt
Ethan Allen
Mitchell Gold
Thomasville

The main differences are going to be the fabric availability, the springing and the fill in the seat cushions. Where your $16,000 set may have a printed English Linen fabric over a muslin body, 8-way hand tied coil springs and down-filled cushions and padding - an $8000 set might have a similar fabric directly over the frame (no muslin), S-Spring seats and foam cores in the seat cushions and foam padding on the body.

Williams Sonoma Home's Bedford collection is very similar, and you can get it in myriad fabric choices. Room and Board also has a similar collection called Cameron, far less expensive but fewer fabric choices...

Maybe try this guy?
http://ecocouch.wordpress.com/about/

I'm pretty sure he was featured on here a few months ago. He's in Seattle, but ships to anywhere in the country.

Crate & Barrel's Canterbury sofa has similar lines:

http://www.crateandbarrel.com/family.aspx?c=931&f=31350&q=sofa&fromLocation=Search&DIMID=400001&SearchPage=1

There is no chair, but it does have a three-seater, love seat, and an ottoman.

But I think Room and Board's Cameron Collection, which does offer a club chair, may work for you, too.

http://www.roomandboard.com/rnb/product/detail.do?productGroup=20077

Lots of luck!

I think the shape of this is very similar:
http://www.asfurniture.com/webapp/wcs/stores/servlet/ProductDisplay?partNumber=1176102&langId=-1&Nao=4&storeId=10101&numberOfResultsPerPage=12&N=4294966716%204294967157%2087&catalogId=10154&categoryId=4294967256&relatedRef=1176129

This is the sofa I have in my home. It's very comfortable!

Many upholsters can build something custom. I have had great luck giving my local upholsterer a photo and dimensions (and fabric of course). They can usually do many levels of quality. That way you can customize what you want from the attributes bepsf listed above to get something within your budget. I personally would invest in 8 way hand tied springs and a high quality frame. That way your furniture has good bones and can be reupholstered and re-cushioned many times.

I think even George Smith or George Sherlock would be in your price range -- George Smith has sales twice a year, making them more affordable. Both carry this very classic shape, and both are traditionally made by craftsmen and meant to last a lifetime.

http://www.georgesmith.com/
(the Standard Arm Sofa)

http://www.georgesherlock.com/home.htm
(the Sherlock 3-seater)

Hi everyone,
COUCHSEATTLE.COM here. I can't remotely see why this set is 16k. I can replicate this sofa/chair/ottoman set for about 30% of that using PREMIUM linen and 70% feather/30% down.

Hate to post twice but want to drill this in. I can replicate this down to the half inch. I can do it with 8 way hand tied springs and a truly "lifetime" frame. I can do it in 100% down if you want. I can do it with muslin under the fabric. I can do it to your size.
couchseattle.com
(206) 661-8456

It's only settee sized, but nate berkus has a similar 2-seater in beige or grey velvet on HSN.com

That's one of my favorite sofa types.

The styling is a rip off of a George Smith sofa and chair.
GS has been custom making this style sofa for decades!
Go with the original for a fraction of the price.
http://www.georgesmith.com/

Why does everyone think $16,000 is a ridiculous price for a sofa, but all seem to agree that $8,000 makes sense??? My head is still spinning after reading the question. Wow.

Take a look at Restoration Hardware's English Roll Arm collection... some of the fabrics are on sale right now:

http://www.restorationhardware.com/rh/catalog/category/category_w_products.jsp?categoryId=cat1537070&navAction=jump&link=link=ct_english_roll_arm_upholstered_collections&cm_re=CT-_-CategoryText-_-EnglishRollArmUpholsteredCollections

I'm loving the room itself, with its high, beamed ceilings and a whole wall of arched windows. . . yum!

Thanks everyone for all your comments! Very, very helpful!!!

Here's a similar look for an absolute fraction of the price.

http://www.clubfurniture.com/plaza.html