A ‘disappeared’ western clothing store that sold a $1.5 million item has been taken over by a family that runs an auction house in Singapore, the owner of the business said on Monday.
A man and his wife bought the store, located at Piai Road and Kedah Road in Singapore’s central business district, in January, according to a statement by the family, which declined to be identified.
The store, which sold clothes for $500 to $1 a piece, sold a total of 12,000 pieces of western clothing and accessories, according the statement.
“They had no clue that they were selling something so valuable,” said owner Pang Koon-Liang.
Liang said the family had also sold clothing from the store to overseas buyers, including the family of an Indian man who was killed by police in an armed attack in India in 2014.
After the family bought the business, Pang bought a second store in the same area, selling a total total of 15,000 items.
Pang and his family declined to comment on the sale of the second store.
This store has no cashflow and was abandoned by the owner.
The owner did not want to give any details.
He and his son are the owners of a business called The Worn Western Shop, which was shuttered by Singapore authorities in 2015, after the business owner was arrested and convicted of theft.
Singaporean authorities say the family who owns The Waked Western Shop illegally sold the store for nearly $500,000 and had its assets frozen.