It will not; a palette by itself is not sufficient for the gallery.
Just a note about palette design - It's best not to use simple straight ramps, try playing around with different hues. Also, you've seperated things very rigidly, often a better solution is to try to integrate parts of the palette. So in this situation, if you were to actually make this chair, you might actually try to recycle colours from the 'velvet' and use them somewhere within the wood.
ah well.