It looks to me like slipcovered foam with welting and the same fabric was used for the drapes, and bedskirt.

Did you look at West Elm. Their bedding look similar.

I have looked at West Elm and it's not that.

The headboard + frame is a complete set. The fabric is the same on both and it's this set that I'm trying to identify. I know that it's not a custom piece. The drapes, while similar, are different.

This is the closest thing I've found but I know the one in the staged house did not cost anything close to this: https://www.1stdibs.com/furniture/more-furniture-collectibles/bedroom-furniture/beds-frames/italian-modern-clouds-bed-italy-new-fabric-italian-bedroom/id-f_12404531/

cool