John,
I'm no expert and I'm sure the stuff I got wasn't premium, but it was sold as upholstery leather. It was in full hide form, and had been dyed and conditioned already. There seems to be all sorts of leather available, but this was the closest stuff on hand. Someone told me to always pick the leather out in person, which I agree with--each piece is different. Also, the hide has irregular edges, and people tell you to avoid the area around the spine, which is typically thinner. The leather I got was priced at about $200 a hide, I think, and they sold it for something like $2.50 an ounce, which worked out to about $15-$20 per seat. They cut out the piece I needed, so the waste was no excessive, which I was thankful for. It ended up being less expensive than I had thought it would be. My leather was fairly thick, which was fine, but made it so that the pleat in the front corner was somewhat tricky.
Rob