They bought a cabinet for $100 in 1950. Now, it just sold for $48,000.

The original Eames cabinet bought by Nancy Allen and her husband in the 1950s.
The original Eames cabinet bought by Nancy Allen and her husband in the 1950s.
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DETROIT – Maurice and Nancy Allen know how to spot a bargain.

A cabinet the Michigan couple purchased as newlyweds in 1950 for $100 fetched $48,000 at auction and was purchased by a national museum.

The piece turned out to be a rare storage unit designed by midcentury modern masters Charles and Ray Eames.

Nancy Allen, now 98 and widowed, and her family hired Le Shoppe Too, a consignment shop, and Detroit Fine Art Appraisals to assess her possessions before her move to Pennsylvania to be with her children.

The cabinet was ultimately auctioned off through the Le Shoppe Auction House, and bought by a curator for the Eames House, a museum and National Historic Landmark in Los Angeles. It was once home to Charles and Ray Eames, the designers of the cabinet, before their deaths.

This sale is the most money ever paid for an original Eames storage unit, according to Terri Stearn, founder and president of Detroit Fine Art Appraisals.

“There’s only four or five of these cabinets left in the world,” Stearn said in a news release. “Knowing that we helped get this piece into a public institution to be enjoyed by everyone brought us such joy.”

Known for their contributions to modern architecture and furniture, the Eames' met while studying at an art school in Michigan. Much of their work is defined by a trademark geometric style and bright colors, as well as high functionality, the release said.

“I knew this beautiful cabinet was rare, but I didn’t realize how rare it was,” said Deborah Slobin, co-owner of Le Shoppe Too. “This wasn’t a contemporary reproduction; this was an original.”

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Slobin estimated a selling price of $20,000, which is already high for a storage unit. When it sold at $48,000, everyone involved was shocked.

“We never ever thought it would go that high,” said Slobin. “The next day, Nancy’s son and daughter picked up their mother’s favorite bottle of wine and her favorite pizza to surprise her with the news.

"When they told her the final number, a huge smile spread across her face, and tears of joy fell down her face. She told them, ‘Your father would be so proud.’”

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This article originally appeared on Detroit Free Press: Cabinet designed by Charles, Ray Eames auctions for $48,000