We bought dusty old chair for £5 at old auction & found a £5,000 treasure trove stuffed down side of seats
A COUPLE who bought a dusty old chair for £5 at an auction have found a £5,000 treasure trove stuffed down inside of seats.
Angela Milner-Brown and husband Angus from South Lanarkshire, Scotland, were struck by luck after spotting diamonds inside the ordinary chair.
The couple snapped up the weathered antique-style chair for £5 at a local auction back in 2016.
Looking like it had seen better days, the chair remained into the couple’s attic gathering dust for six years.
Angela, who is a scientific proofreader said: “It looked like a dog had slept in it and was in fairly bad condition.
“We couldn’t afford to have it reupholstered at the time so my husband put it in the attic and it ended up staying in there for around six years.”
But little did they know the old item contained a staggering fortune in the form of three pieces of jewellery.
When they finally reupholstered the chair, Angus made an unexpected discovery while peeling back the layers.
Tucked away under the fabric, he found earrings, a broche and a ring.
Angela said: “My husband is very romantic so he decided to keep the items secret and surprise me with them over the next few celebratory occasions for us. It was a really lovely thing to do.
“They must have been hidden inside the chair by previous owners. We just couldn’t believe it.”
The couple then rushed to the nearby Antiques Roadshow in New Lanark to value them.
To their shock, experts put an eye-watering tag of £5,000 on the chair and the precious diamonds.
Producers of the show were so impressed by the couple’s find that they were interviewed by host Fiona Bruce for a programme set to air later this year.
Angela said: “The roadshow was very well organised and it was a great day out for the both of us.
“We were interviewed on camera by Fiona Bruce and the jewellery expert. They put us at ease straight away.”
The couple decided to keep the chair and jewellery rather than sell it.
It comes as a woman bought an old brooch for £20 thinking it was costume jewellery – but realised it was worth a lot more after seeing a TV clip.
Flora Steel purchased the silver brooch in 1988 not realising it was a “historically significant” piece of long-lost jewellery dating back to the 19th century.
Pros and Cons of selling valuable items at an auction
If you are considering an item through an auction house it may be worth weighing up the pros and cons, as revealed by WeBuyVintage.
You may want to confirm that the item you have actually is worth some serious money and not just to be flogged off at a car boot sale.
This is where a reputable auctioneer may come in handy and will likely offer a free valuation.
A professional appraisal will make sure of an accurate price when it is put up for sale, attracting potential buyers.
By using an auctioneer, they can provide the right platform to attract potential collectors or enthusiasts, while an online ad may simply get lost in the deluge.
An auction creates the environment of competitive bidding, where rival bidders try to out do each other, which can push the sale way over the estimated valuation.
Putting items up for auction can insurance a speedy sale as there is a fixed date of possible sale, whereas it could take ages for an ad to attract a buyer.
The reputation of an auction house may be important as this will proceed them and establish credibility which will attract serious buyers who will respect the opinion of an auction house.
It’s not all plain sailing though and there are some potential drawbacks.
There are fees and commissions involved. While with selling privately, the owner gets to keep every penny but an auction house will charge fees and commissions for their efforts.
The outcome of an auction isn’t certain and the seller doesn’t have control over the final price, which could be less than was expected.
Details of auction items and how much they sold for are often publicly available which may not suit someone who wants to maintain their privacy and discretion.
The item maybe undervalued by an auction house if they lack the expertise in how to market a particular item and don’t have the specialist knowledge.
Sellers should also be aware that there is very likely going to be a deferred payment once their item has been sold. This is often down to a settlement period in place and admin issues.