Antique Chair: Bought for Rs 4,000, Sold for Rs 82 Lakh in Auction
An old chair has been sold for around Rs.82 lakhs in an auction, which the person who auctioned had bought for only Rs.4,000. Justin Miller, an American TikToker, stumbled upon this old chair on Facebook Marketplace. Miller, who is fond of old things, bought the chair and later got it repaired for about Rs 2.5 lakh. He then contacted the fine art company Sotheby’s for auction and estimated that the chair could sell for around Rs 25 lakh to Rs 30 lakh. However, the auction of this chair started at $28,000 and reached about 85 thousand dollars, i.e., about 70 lakh rupees. After adding the auction charges, the total price crossed $1 lakh, i.e., around Rs 82 lakh, and Miller earned Rs 82 lakh from a chair worth Rs 4 thousand.
Key Highlights
– An old chair was sold for around Rs.82 lakhs in an auction.
– Justin Miller, an American TikToker, bought the chair on Facebook Marketplace for Rs 4,000 and got it repaired for about Rs 2.5 lakh.
– Sotheby’s estimated that the chair could sell for around Rs 25 lakh to Rs 30 lakh.
– The chair auction started at $28,000 and reached about 85 thousand dollars, i.e., about 70 lakh rupees.
– After adding the auction charges, the total price crossed $1 lakh, i.e., around Rs 82 lakh.
This incident proves that old things have a great value in the market, and collectors are always ready to pay a huge amount for them. Justin Miller’s experience shows that if you have an eye for valuable old things, you can earn a fortune from them.
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