Save your money and get the artowrk you have your mind on - Dont' waste your time and money with placeholders.

Meanwhile - You might want to pull the rug out from under the sofa a bit towards the wall so that the chair can rest on it - that alone will bring the appearance of more color on that end of the room and your chair won't be sitting out there like a lonely planet all on it's own.

I think a large piece of art with bright colors like the ones in your pillows would be a great choice.

You could buy a large blank canvas and paint it a fun color to make it pop. It would be inexpensive and bring that color into the space!

Until you find the piece of art you love with all your heart, get a tall rectangular white canvas and paint white, with one wide stripe of color across it, about a third of the way up, in a shade matching or complimenting your accent colors. Hang that over the chair. It will balance the window on the other side of that wall and is an inexpensive fill until you find the piece that makes your heart sing.

I love your soft gray walls, by the way. My bedroom is gray and I love it!

I would do an airy/narrow console table against the wall with some art above.

I love rachelj02's idea of a large canvas painted to match your pops of turquoise. But I checked out Parvez Taj prints on aluminum… "OOOOOO!" I say go with the cheap canvas and get the Taj print you want!!!

What about some sort of a patterned wall covering to add some interest? You can do it with paint or wallpaper.

We did it in our house with a harlequin pattern paint treatment.

www.oldtownhome.com/2011/6/10/How-To-Create-a-Harlequin-Paint-Treatment-Diamonds-are-a-Girls-Best-Friend/index.aspx

The angular and contrasting wallpaper is also very popular lately.

www.alluminare.com/design-your-own.asp?sku=R124-239;P;c203;124;44;51;51;50-9700-9700-14-nonex0-nonex0-0000-0-0

Then add some visual interest with a painting or mirror, and a few accent accessories. Remember, things look better in groupings with odd numbers.

The first thing I would do is change the orientation of the mirror over your fireplace from landscape to portrait and have the top higher than the crown molding on the entertainment center. Right now it is dwarfing your fireplace. A very large and important piece of artwork would be nice. I also like the idea of incorporating something with some age on it...what about an older buffet/sideboard type piece that could also double as a bar? You could then move the mirror to over the buffet and add artwork over the fireplace. Add some lamps, silver tray for bottles, glassware, etc. This room needs some shine and patina on it.

Your room is very beautiful already..great job. Have you thought of putting scounces on the wall? Maybe find something that are light and airy that can add some interest to wall without adding any bulk. And of course some nice art that inspires you would be great too.

I really like the idea of a huge piece of art on canvas, and of a DIY till you find one you love. But I also think it would best with colours that are complementary to the blues and yellows (i.e. reds/purples). Some warm colour in a big piece of artwork would look wonderful. Nice room by the way!

I really like the idea of the Parvez Taj print.

In the interim, though, since much of your walls are already covered with big pieces (windows, mirrors, bookcase/media center, I might go with a cluster of smaller pieces--color photos, paintings/prints, and even a thin shelf mixed in to display a small plant or a personal knick knack or two.

I'd probably arrange them in a lazy arch that ran from the low left to upper right and loosely framed the chair beneath.

A living wall would be awesome if you're up for it.

We have the same problem right now and are planning to paint a big canvas - but does anyone know of the cheapest place to get them?

I like the idea of the Parvez Taj print, but maybe since it's a room that you and your family spend a lot of time in you could make something like it on a canvas? You could add as much color as you want and then you can know that it actually MEANS something. A diptych might be nice just to give a little more interest too.

I'd go with bepsf's suggestion of adjusting the area rug and placing the chair onto the rug. I'd also suggest a console table along that wall, a lucite one would look great and complement the other lucite pieces already in the room. This would give you some display surface and allow you to edit the shelves in the built in, which seems a little crowded to me. You could then use this as a foundation for wall art, either a single large piece, or a grouping of smaller pieces. You could also place a chrome gardening stool or an interesting bench or stool under the console for occasional extra seating.

Your room is really coming along great, thanks for sharing.

Ditto ditto ditto making your own art.

@Mama Gigi - try Michaels. I once got a gigantic canvas there for about $15 because I had a 40% off coupon, and Michaels sends coupons nearly every week.

I would put a tree in the corner and maybe one near the window as well and leave the wall blank. Or possibly long mobiles hanging from the ceiling in those spots. Leaving the wall blank gives the eyes a place to rest.

how about a mirror or print collection. i've seen them on here, and other sites, where you scrounge up a bunch of different size/style frames and paint them all the same color and then arrange artfully on the wall. my local salvation army sells frames (with mats!) for next to nothing, if you can find a similar supplier this would be cheap and fun.

if you are at your mirror quota with that big one over the fireplace just find some fun prints at michaels, or mix in some beautiful wallpaper like someone else suggested. lovely room btw.

I like the idea of a large piece of art. Are you or any of your friends handy in photoshop? You could probably render something similar to a Taj print that you might end up liking even more. You could use Spoonflower to print the image large size (a 42"x36" panel is only $18, and 56"x36" canvas is $27ish I think). Then stretch it on stretcher bars and paint the sides a solid color, and hang it on the wall.

Parvez Taj artwork happens to be on sale today on Gilt.com. I think it's going to last till tomorrow only.

find a bunch of plates in different sizes and textures at a thrift shop. Spray paint and coat with some sealer to make it shiny and finished. Then arrange them all over the wall (Not all over, maybe do a 4 feet x 4 feet area). It will bring in tons of color and interesting look to the room :)

I would do a cool, graphic wall decal. I know that there's a Groupon out right now for Dali decals. I'm considering putting one over my bed.

I love the large art idea. I would also do a huge ficus plant or fiddle fig in the corner by the fireplace. It would bring the eye up a bit and bring some more color to the room.

Ditto trying to get the rug under the chair. Wall doesn't bother me, but if it were my room I would want something in the form of a small table next to the chair to hold a drink. Also a standing or table lamp.

I agree with jeannemarie . A plant or tree in that corner and bepsf's suggestion to the shift the rug. Everything is stair-stepping down from the built in and then your eye just kind of drops off into the space in the corner. See if a plant balances the space and if you still want artwork save or search for something you love.

If you're on a low budget and frustrated on what to do how about taking or using family photos to decorate the wall with for now? Take a few of your favorite digital images and have them blown up to 11x17 or larger, frame them in thrift store frames you can paint white to match the built-ins or whatever your heart desires. Inexpensive and personal touches like this make any room a showroom!

Oh, I also agree with the suggestions to move the chair to rest on top of the rug and either move the mirror over the fireplace or turn it to hang vertical to give more height to the room and corner.

If you plan to leave everything around as is...

Then get an oversize high contrast black and white picture printed on canvas with no frame.

Lots of light. Living wall? At least put a plant/tree in the corner. Or find a really nice fabric and mount it like a canvas. I've always liked that look.

I'm all for DIY projects! Style your own ribbon bulletin board, it would look beautiful! Here's a how-to guide: http://epochbydesign.com/blog/diy-ribbon-bulletin-board/

I have the exact piece of art you are looking for: for under $50. I purchased a fluffy 1970's bedspread, stretched it over a wooden frame (homemade) and now have a stunning textural wall. This piece started my addiction to aqua!
http://lissanne.files.wordpress.com/2011/07/furry-aqua-art.jpg

Beautiful room :) I love your couch! I would do a gallery style arrangement of art on that wall. That way you can get some smaller more affordable pieces of art or order some prints from an online print shop like Society 6. Its not as big of an investment as a large piece of art, and it gives you flexibility to switch out pictures if you get tired of them and want to change things up a bit.

Art! It's screaming to be placed into your living room. I love your windows. So much natural light.

You can shop for a big canvas art you're in love with (probably pricey if it's more original). Or you can purchase a large canvas to do yourself.
If you're a risk taker I'd say paint art directly onto the surface of your wall, depending on the texture of it.
you need a quintessential piece on that wall that says out loud "THIS IS ME AND THIS IS WHERE I LIVE"

Nice space! Leave it blank. And yeah...a tree or some other plant life might be nice. Maybe some hanging terrariums or air plants, if you don't want a tree.

A floor lamp in the corner between the fireplace and the chair would look good - the shade could match in with the cushions on the sofa and it would throw interesting shadows on the wall when lit. Alternatively, a architectural plant betweent the chair and the window either on the floor or on the table would work well too.

Lovely room, by the way - I envy you the light and airy feel!

The reason that the room feels unfinished is not because the wall is empty and needs art, but because the room is all the same value and too tightly coordinated.

Everything is the same value -- everything is new, and everything is relatively slick and cool. The mirror and decorative bits on the fireplace mantle, the staging of the shelving and the turquoise throw pillows, the bold but simple graphics of the rug...

You need to break it up a bit, loosen it up, introduce some different textures.

The element which ties everything too tightly and too predictably together is the rug. I would either change it for a faded traditional rug (to play with your nods to traditional forms --i.e., the fireplace and shelving trim) or an overdyed older traditional rug.

Here are some examples:

http://www.garnethill.com/eileen-fisher-hand-knotted-oushak-rug/bedding-home/eileen-fisher-home/rugs/129491

http://www.polyvore.com/color_reform_86_99_oriental/thing?id=28900994

http://www.abccarpet.com/store/store/pc/Color-Reform-6-3-x-9-1-64p17450.htm

And check out the photos of the home of London florist Nikki Tibbles. She has some of the same living room elements as you do -- a sectional, grey wall -- but has accessorized them in a looser way. The woven pillows and pouff with dreadlocks comes from Atelier Abigail Ahern, and are worth checking out.

http://www.atelierabigailahern.com/textiles1.asp

http://tabletonic.blogspot.com/2011/05/stylish-homes-nikki-tibbless-notting.html

In any case, see what sort of art Nikki Tibbles has hung, and how she has hung it, and check out the vases and such she has added; I think they would work well in your home too.

Her home is one of my very favourite -- it's fun and lively.

Good luck!

p.s. the white chair looks great, but doesn't quite work in your room. Sure, putting it on the rug as bepsf suggested would help, but the problem is that the seat height is much higher than your sectional, and so it feels less relaxed and doesn't quite belong (it would be gorgeous in an office though!).

I'm not familiar with Parvez Taj, but if that's what you like, do it, live it, be it.

Because seriously, anything is going to cost at least something, and as my friend Scotty would say, "Buy cheap, buy twice!"

What I'd probably do with this room is either a large canvas, or large fabric on canvas stretchers the same size as that vertical window, and frame them in white and have them next to it. Or at least ONE in the far corner of same wall, and have 2 smaller ones in between it and the window.

Concur with gold/silver leaf idea

You can find some amazing wall art at http://www.whatisblik.com/ that can subtly fill an entire wall.

For recycled rugs, the color reform overdyed rugs (which I saw in person at abc carpet and home) are reeeeeeeally expensive (like, if they could buy that they could obviously just buy the aluminum art piece they wanted). Also, they are incredibly stiff and not-plush feeling (or at least they were). Depressed me. :(

I agree with others about possibly making a piece of art till you can get the one that you really like.

I have to say I completely loooove your sofa and the clear serving table! Anyone know where these two items are from?