Buys leather armchair online for USD 50, sells it for USD 108,000

Buys leather armchair online for USD 50, sells it for USD 108,000

The new frontier in the search for antiques is Facebook marketplace. This is demonstrated by the story of Justin Miller, a US TikToker who found a vintage armchair (pictured) designed by Frits Henningsen for only USD 50. The designer and cabinetmaker was based in Copenhagen in the 1930s, where he promoted the philosophy of handmade furniture and furnishings. Dating from 1935, the leather and oak wingback armchair is estimated to be one of the few still existing.

Buy leather armchair online

Miller contacted Sotheby’s to request an appraisal on the armchair. He invested USD 1,000 to send it to the auction house and another USD 3,000 for repairs. But once it was auctioned, it reached a sale value of USD 108,000 after tax. Initial estimates ranged between USD 30,000 and USD 50,000, as reports.

Surplus value

The added value of this search lies in the gain of at least USD 70,000 that Miller realised from an expense of USD 50, plus the views on TikTok with the video documenting the auction. Miller does not consider himself an antiques expert, but “an admirer”. His idea is to continue sharing design tips via TikTok, not forgetting to scour Facebook marketplace for new antiques. In leather, possibly…

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