Man Becomes Millionaire Overnight Thanks to Antique Roadshow | Personal Finances | Finance

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Watching Antique Roadshow, Loren Krytzer realized that the rare Navajo blanket they talked about looked a lot like the item he inherited from his grandmother. Mr Krytzer witnessed a series of unfortunate events that forced him to live in a friend shed after being involved in a car accident.

Since then he has been surviving on disability checks, which left him only $ 200 (£ 145) after paying the rent for a friend’s cabin and being forced to send his children to live with their grandchildren. parents.

In 2011, Mr Krytzer saw an episode of Antique Roadshow which featured first-phase Navajo coverage which grossed the seller $ 500,000 (£ 360,000).

The show’s reviewer explained that textiles were just as expensive to obtain both when the blankets were made and nowadays.

Mr Krytzer recalled a similar blanket his grandmother once used a catching cloth for a litter of kittens.

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When Mr. Krytzer’s grandmother passed away, no one realized the value of the Navajo blanket and after being examined by his mother and sister, Mr. Krytzer became the unwitting spectator of millions.

He knew the blanket had been passed down since the 1800s, starting with his great-great-grandfather who was a Dakota trader.

And Mr. Krytzer had left it in his closet for seven years since.

Holding the blanket in front of the television, Mr. Krytzer noticed that they were identical and went to show it to his mother.

The couple went to a few antique dealers who either refused them or rejected the cover as an ordinary replica.

It was in a local family-owned auction company that the true value of the blanket would be discovered.

Mr Krytzer brought the blanket to John Moran Auctioneers, where he and his mother thought they would be lucky to get $ 10,000 (£ 7,000) for it.

Upon appraisal, it was found that Mr. Krytzer had inherited a three hundred year old treasure; one of the finest and rarest Navajo chef blankets in the world.

The cover was auctioned off in June 2012 where it sold for 10 times its opening price, making Mr. Krytzer an overnight millionaire.

The auction itself lasted only 77 seconds and to date it is the most expensive item ever sold by John Moran Auctioneers.

The money allowed Mr. Krytzer to have a house, several cars and a luxury cruise in Mexico with his family.


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