In an extraordinary turn of events, Los Angeles resident Justin Miller unknowingly discovered a highly valuable Danish designer chair while browsing an online auction site. He bought it for just 1,700 baht (US$49) and sold the item for an astounding 3 million baht (US$86,500) to an eager collector.
Miller stumbled upon an online auction listing featuring the broken-down, leather-covered chair, several days ago. Deciding to take a chance on the piece, Miller purchased the chair for a mere 1,700 baht. Unbeknownst to him, this particular chair was the work of renowned Danish designer Henningsen.
Following his purchase, Miller contacted Sotheby’s auction house, which confirmed Henningsen indeed designed that chair. Despite the chair’s visibly damaged state, experts still estimated its value at around 970,000 baht (US$28,000), significantly higher than the initial 1,040,000-1,740,000 baht range first appraised. Miller was astounded at the revelation and never expected the final auction price to reach 3 million baht.
He revealed that at the time of discovering the chair on the auction site, despite the damaged upholstery, he suspected it might be a Henningsen creation. He decided to take a gamble with just 1,700 baht. Upon contacting the seller, they suggested that should he restore the Danish designer chair, it would be worth significantly more.
Miller decided to sell the valuable find, admitting that although he was initially tempted to keep the piece for admiration. However, he did not have space in his life for such an expensive item. The substantial sum garnered from the sale provides an extraordinary return on his initial modest investment.
Last month a rare Patek Philippe watch once owned by Aisin-Gioro Puyi, the last emperor of China‘s Qing Dynasty, has been sold at auction in Hong Kong for a record-breaking HK$40 million (US$5.1 million).
An anonymous buyer purchased the timepiece, which had been gifted by Puyi to his Russian interpreter during his imprisonment by the Soviet Union. The sale price, which did not include the auction house fee, exceeded the pre-sale estimate of US$3 million and set a new record for a wristwatch that once belonged to an emperor. Read more about it HERE.
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