Philip Treacy Bag Bought For £20 From Oxfam Charity Shop Is Worth £350,000

A pensioner who bought bought a bag in a charity shop for £20 has discovered his purchase could now be worth £350,000.

John Richards bought the brown bag, which features a distinctive Elvis Presley design by Andy Warhol, from the Kingston branch of Oxfam in February.

The 73-year-old was stunned to later discover it was actually one of just ten made by Irish designer Philip Treacy.

What a bargain! John Richards and his now near-priceless find

He told the Ham & High: “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 it was one of theirs.”

Richards has already had interest from two private collectors in China, who have variously offered £250,000 and £350,000.

Gee Brunet, manager of Philip Treacy, London, said: “It’s definitely one of our originals. I was surprised he found it in a charity shop. It could reach £350,000 — it’s a piece of art, not a bag.”

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