Philip Treacy Designer Bag Bought In Charity Store For $30, Valued At More Than $500,000

Thrift Store Handbag Cost $30, Valued At $500,000

John Richard, a UK man who bought a handbag for around $30 at a charity shop in February, may be in a state of shock after discovering that the satchel is actually worth more than $500,000.

When the 73-year-old retiree found the bag at an Oxfam store in Kingston, reports the Daily Mail, he was drawn to its distinctive Elvis Presley print.

It turns out that the "distinctive" print was the handiwork of one Andy Warhol, and the bag itself a creation by Philip Treacy, an Irish designer famous for his fanciful hats (many of his hats were on display at the royal wedding in 2011, including this infamous headgear, which later sold on eBay for $130,000).

After taking it to a Philip Treacy shop in London, Richard discovered the bag is one of only ten ever made.

"It is definitely one of our originals," explained the store manager Gee Brunet to the Sun. "I was surprised he found it in a charity shop. It could [sell for] £350,000." Treacy also added, "It's a piece of art, not a bag."

Richard told Ham & High he's already seen interest on the prized piece from private buyers in China, who have offered him as much as £350,000 (approximately $545,000). He intends to use the proceeds to open a hair salon for his partner.

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