Search

West Hampstead man buys £20 charity shop bag that may sell for £350,000

17:49 12 July 2012

John Richard bought the Elvis Presley print bag by Philip Treacy in an Oxfam charity shop. Picture: Nigel Sutton

John Richard bought the Elvis Presley print bag by Philip Treacy in an Oxfam charity shop. Picture: Nigel Sutton

© Nigel Sutton email pictures@nigelsuttonphotography.com

A West Hampstead novice antique hunter who paid just £20 for a rare handbag in a charity shop has been told it could be worth as much as £350,000.

John Richard, 73, discovered the Philip Treacy bag in Oxfam in Kingston in February.

It has a distinctive Elvis Presley design by pop artist Andy Warhol and is believed to be one of only 10 ever made.

Mr Richard, who lives off Lymington Road, said: “I found it lying in a box in the shop. I was shocked that it had ended up there.

“I bought it but then only looked at it again a couple of months later. I decided to take it to the Philip Treacy shop and they confirmed that it was one of their’s.”

The lucky pensioner, who has lived in Hampstead for 40 years, says he has already had interest from two private buyers in China – who have offered him an incredible £350,000 and £250,000.

It would have originally sold for £200 to £400 when first made.

He now plans to use any windfall from a sale to open a hair salon for his partner – although he has been advised by auctioneers in Bond Street to hang on to the rare find.

Gee Brunet, store manager of Philip Treacy London, said: “Mr Richard contacted me a few months ago saying he had found the bag. I can confirm that it is definitely one of our originals.

“I was very surprised to hear that he had found it in a charity shop. But he worked hard to get the sale so whatever he does with it is up to him.

“Only about 10 such bags were ever made. I imagine it could reach £350,000 – it’s a piece of art, not a bag.”

But some other valuers have doubted the bag’s worth.

A representative from auction house Bonhams told the Ham&High it was highly unlikely that the bag could fetch such an amount.

If it did sell for the figures Mr Richards has suggested, it would become the highest priced bag ever sold.

Fee Gilfeather, head of marketing for Oxfam Trading, said: “We were stunned to hear about the world record-breaking price this bag could be expected to achieve.

“It’s highly unusual for an item of such extreme value to go unnoticed and demonstrates the growing appetite for seemingly ordinary items overseas.

“We are, of course, very disappointed that Oxfam won’t benefit from the sale. In West Africa, where millions are at risk from severe food shortages right now, £350,000 could help bring food to 35,000 families for a whole month.”

0 comments

Latest Hampstead & Highgate News Stories

Friday, August 26, 2016
Yasmin Farah

Police are appealing for the public’s help to find two sixteen-year-old girls who have gone missing from Camden.

Friday, August 26, 2016
Mary Langan with her 23-year-old son, James

Carers of adults with demential and disabilities are demanding change after a report revealed there is a “breakdown of trust” on the Haringey boards designed to represent them.

Thursday, August 25, 2016
Nina Martynchyk with her foster mother, Nina B

A young woman who overcame anorexia is organising a conference with the Royal Free Hospital to draw attention to how the condition affects children and teenagers

Thursday, August 25, 2016
Highgate School

Students and staff at Highgate school were reflecting on a very impressive set of GCSE results today, with 88.2 percent of exams receiving a grade of A* or A.

Thursday, August 25, 2016
Hampstead School is in Westbere Road (Pic credit: Google streetview)

The Hampstead School has once again seen its GCSE results improve today, with nearly a quarter of all grades receiving an A* or A grade.

Thursday, August 25, 2016
Hornsey School for Girls

Girls at Hornsey School for Girls were today collecting some stellar GCSE results.

Thursday, August 25, 2016
Sam White has praised William Ellis pupils

The headteacher of William Ellis school, Sam White, was full of praise for his students today after a promising set of GCSE results.

Thursday, August 25, 2016
UCS school

University College School was today celebrating the second best set of GCSE results in its history, with a remarkable 88.6 percent of exams achieving either an A* or A grade.

PROMOTED CONTENT

The showroom is located in Hayes

After 25 years as a trade-only business, family-run door manufacturers Composite Door Master are set to open their first public showroom in Hayes this weekend.

Education and Training

cover

Read the
Education and Training
e-edition today

Read Now

Newsletter Sign Up

Sign up to the following newsletters:

Most read Hampstead & Highgate news

HOT JOBS

Show Job Lists

Property Newsletter Sign-up

Get the latest North London property news and features straight to your inbox with our regular newsletter

I am also happy to receive other emails...
Fields marked with a * are mandatory
Email Marketing by e-shot

Competitions

You could win £15,000 to spend on either their mortgage or a deposit towards the home of their dreams

Wouldn’t it be lovely to have a period of time when you simply don’t have to worry about finding the money each month to pay your mortgage? When you don’t have to put money aside from your monthly income, or worry about having to afford other essential outgoings?

Which book character do you share cleaning habits with?

Whether you have more in common with put-upon Cinderella, emotionally turbulent Jane Eyre, or easily distracted Mole, you’re sure to appreciate that one lucky winner will receive four sessions of free cleaning. Enter our quiz for your chance to win. All runners up will get £10 off their first clean when making a repeat booking.

Digital Edition

cover

Enjoy the
Hampstead & Highgate Express
e-edition today

Subscribe

Education and Training

cover

Read the
Education and Training
e-edition today

Read Now