It’s no secret that Karl Lagerfeld has a flair for the dramatic. But this time, the designer has really channeled his inner Liberace. To celebrate the 150th anniversary of Steinway & Sons, he designed a piano, even though he doesn’t play. "The S.L.ED," which stands for Steinway Limited Edition, will be unveiled Wednesday at Steinway Hall on the company’s birthday. "I changed what I did not like in pianos and apparently it’s a big success with them," says Lagerfeld of his masterpiece, which retails for $85,000. The black lacquered instrument boasts sled-shaped legs and a high red polish inside. Only 150 KL pianos, all featuring his signature, were created. "I am not gifted to play the piano," he admits, "but I love the sound and listening to it."