A man spends £40 on a worn-out leather chair and sells it for over £79,500
You've probably daydreamed about finding a priceless heirloom or a hidden gem at a charity shop if you've ever watched an Antiques Roadshow episode.
And the reason I say "fantasized" is because, for the vast majority of us, it will always be just a lofty dream that will never come true.
However, some fortunate people get to actually experience the rush of fulfilling their dreams, like Justin Miller from Los Angeles. He recently came across a worn-out leather chair for sale on Facebook Marketplace for just $50 (£40).
I've probably watched every single episode of Antiques Roadshow, the 33-year-old enthusiast admitted in an interview with Business Insider. I am an antiques expert. Despite not being an expert, I do have a good eye. The chair struck me as being a really intriguing piece when I first saw it.
He had a feeling, and a quick Google search confirmed it. I discovered chairs right away that had sold for astounding sums, he recalled.
Miller discovered that even the woman, a family friend who lived at the seller's house, recognised the chair's high value when she went to pick it up. He was interested in its potential value and consulted Sotheby's, who advised him that it was probably one of only about 50 wing-back chairs created by Frits Henningsen in 1935.
Miller trusted Sotheby's to list the chair on his behalf after making repairs worth about $3,000 to it. Between $30,000 and $50,000 was the auction house's estimated sale price. The final result, however, was much better than they had anticipated.
Miller captured the live auction in a TikTok video, where he captured the bidding. The starting bid was a modest $28,000, but as more people expressed interest, the competition for ownership of the chair became more ferocious.
The cost quickly jumped to $38,000 (£30,212) in a matter of seconds, followed by $40,000 (£31,803) and a startling $55,000. Miller shared his shock with his followers, saying, "I don't usually get excited about things, but this... I am excited about this."
I can see why.
Overwhelming all predictions, the bidding kept rising. For a dumb chair, it costs $70,000 (£55,656). "Oh my god!" Miller shouted.
The sale was declared to have concluded when the amount increased to an astounding $85,000 (£67,577). At that point, the gavel was struck.
After fees were taken into account, the buyer ultimately paid more than $100,000 (£79,503) for the chair.
Not a bad day's work for a coincidental purchase made for just £40, would you say?
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