a lovely, lush cognac...

A crazy idea is that this color is actually good as is, but, saving that, what about a tone-on-tone grayish print? Like a darker shade than you've already got on the walls, maybe with a small throw pillow salvaged from the original seat cushion for pop?

You really like grey, so I'd do that for your sofa (which you'll likely have for a very long time and invest some money in) and have some fun with this chair.

If you like navy, yellow and purple, I'd look for a large print that incorporates all three! That's a pretty tall order (all three colours in a pattern you like), but still, I'd look for a large print, for sure.

Go Bold with the colour! You will probably get a fairly neutral couch anyway, why not inject some personality into the accent chair? Maybe a rich plum with light grey or white piping, or go crazy and get a big and bold pattern like this one: http://www.ikea.com/ca/en/catalog/products/10154006.

This will make a beautiful impact especially since you said that you have a "minimal" taste sensibility. Treat the chair like an art piece, not something that should fade into the wall.

i'm really into herringbone and tweed at the moment

I love the gold color, I am sure it is a bit dirty so a redo is necessary, but I would suggest a new yellow/gold mohair with a low pile, add a white pillow with a black graphic or a grey pillow, or even teal. Have fun with it!

Awesome chair! I agree the color is fabulous as is, but as I can tell in the picture, I don't even think steam cleaning would really get it clean.

I'd go for a rich plum/eggplant/dark purple, myself.

This particular chair looks like it's in good condition and just needs a steam cleaning. I believe if a piece doesn't NEED redoing you should just leave it alone and work with it. Your room is already heavy in neutrals and could probably use a shot of color. WHy not start with this piece? You can tie it in with other pieces in the room by adding a lumbar pillow to it.

If you like grey, how about charcoal velvet for this chair?

Navy with a retro pattern would be gorgeous!

Ooh, heathery purple!

why not a rich navy with a grey cushion?

for some reason, i'm picturing that looking fabulous

I think it would look great as is (well, after a thorough cleaning.) Gray and yellow look spectacular together, in my opinion.

Teal, peacock, navy velvet.

something like this, looks great with wood, timeless blue
http://www.flickr.com/photos/44713708@N00/5061226774/

I love it the way it is, but make the cushion a contrasting color with the original fabric as piping :)

Thanks to everyone for your awesome suggestions. You've really given me a lot to think about. To everybody who suggests just giving it a good cleaning and leaving the fabric as is, I would, but the fabric is worn through in places that you can't see in the picture.

So, anyone care to educate me about the style of this particular chair? So far I've just been referring to it as "squarelike".

I would do it in either yellow or purple but with a strong graphic pattern.

I recently saw a chair that was upholstered with the Union Jack (English flag) and it was gorgeous! The lines of this chair would be fabulous for this too. And it would really liven up a more reserved grey couch. I'm still waiting for the right house and chair that I can do this too!

You could do an ikat. You could do that with a simple grey sofa.

I love this slightly-retro reversible geometric fabric - it has the shades of black and ivory that would work well with almost anything, and it's more interesting than a solid.

You could do the chair with the light side out then throw pillows and/or ottoman w/ the dark side out - or vice versa.

http://www.jandofabrics.com/proddetail.asp?prod=reu32108

if it were me and i was trying to do something different, i would choose a solid fabric (maybe a velvet gray??) for the arms, "wings" and base and then a subtle pattern of the same tone for the bottom cushion and back. to tie it all together, get a pillow (purchase or made) with the same tone as the second color in the patterned fabric.

oooh lala... i'm picturing it now :)

Why not have it steam cleaned now and live with it until you get the sofa or at least until you are sure about what direction to go with the chair?

I always find it useful to buy a quarter or half yard of fabrics I'm considering and drape it over a chair back for a few days to see how it works.

Acid green with purple pattern, something bold and bright and beautiful

I agree with those that suggest you keep it as is. I see that the armrests are worn, but if it's not too bad, yes, leave it! It'd be a great pop of colour on the greys. Beautiful chair and a great deal!

Great chair with tons of potential, lots if great ideas here. I'd love to see it in white faux baby ostrich.

What I'd like to know though is why couldn't the photo have been posted in the correct orientation?

Paul Smith herringbone stripe from Maharam

How about Navy with white piping or cream with Navy piping?

A solid or texture would be nice. I also think that a teal color would look nice with the grays, yellows, purple. staying solid with the chair gives you the most options with the future sofa. If you go with a solid sofa as well you can find a nice fabric for pillows that can pull the two pieces together.

If you're leaning toward solid colors, I'd say get some texture or shine in there. Here are a few options:

Subdued colors: http://upholsteryjournalmag.com/articles/0410_np16_calming.html

Shine: http://upholsteryjournalmag.com/articles/031110.html

Velvet:http://upholsteryjournalmag.com/articles/0209_np8_performance.html

I LOVE wild patters on chairs like this, but reupholstering is expensive so I'd recommend doing a solid color -- probably velvet again -- so it has some legs, and you won't get tired of it. I'd add a small pillow in a great print (a pucci scarf?)
pam h
howtorunyourlife.blogspot.com

Love this yellow/gold color! I'd redo it in the same color, maybe one tone darker, which will keep it a little more neutral for your taste.

I'm really liking the color it is- unusual, but somehow neutral- clean it up and use your money on a pillows or another project.

Why not gray if you love it? This would look so rich and modern in a thick, nubby gray linen. Actually, how about a gray linen slip cover???

Lucky! This is a great chair.

i love the color the chair is already! it fits the original style of the chair and if you say your home decor contains a lot of gray, the chair will pop perfectly!

I'm thinking not so much about color but about the fabric itself. The lines of the chair would show off the sheen in a nice cotton sateen, or the pattern in a moire or a subtle damask. There are fabrics made with one color in the woof (aka weft) and another color in the warp that really work well when stretched over the clean curves of a chair like this. You might like to find such a fabric and simply choose the best color available in that fabric.
I'm hoping bepsf will suggest some fabrics and sources, although he has already made a great suggestion.

I think the idea to use the original fabric as piping is so cool on multiple levels! Great suggestion.

BRIGHT KELLY GREEN!!!!!!!!! It looks awesome with grey, black, brown, white, and is perfectly fine in a room with pops of red and orange or your other bright accent of choice. Let us know what you choose- it's a great chair!!!

My husband is an upholsterer and he says he doesn't have a name for that style. He says he would just call it an upholstered chair. Sorry.

Personally, a grey linen with velvet piping, in a color that popped (plum, teal, aqua or mustard) would my choice. Good luck. It's a great chair~