This story is too short but enlightenment is given a lot. We can see this story is show of 3 generation & specially find of combination between 1st and 3rd generation.
John's parents consider grandfather's old chair as a waste and want to get rid of it to beautify the house. And on the other hand grandfather has felt every moment of his life sitting in this chair. It means that his old memories are associated with this chair. Only this feeling is understood by John for his grandfather's chair. And stops his parents and expresses his grandfather's feelings himself.
This story is consider to one thing : Memory is a life in bonus. Literally I like this story.