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The Haverhill resident won £148million on the Euromillions in 2012 with his then-wife Gillian. It was the second-biggest lottery win in British history.
At the time he ran record store Suffolk Music Centre in Haverhill, and is now returning to retail.
His new shop sells memorabilia ranging from cardboard cutouts of Hollywood stars to signed pictures of the Beatles – with prices ranging from £2 to £25,000.
Mr Bayford said: “The shop offers a wide range of interesting music and film memorabilia.
“Unlike a lot of the national chains who sell you what they want to sell we cater to what people actually want.”
He made headlines earlier this year when he spent £10,000 on a stash of Lady Gaga memorabilia.
But he says the singer’s pop anthems aren’t his style: “I’m a big rock fan, I like bands were people actually play instruments like ACDC, Aerosmith and Iron Maiden.”
One of the most expensive items on sale at Black Barn records is a picture of the Beatles signed by John Lennon just a fortnight before he was killed.
Mr Bayford says he plans to open a “couple more” shops, and also intends to buy a vinyl-pressing plant in the UK. Other music-related projects include being executive producer on an upcoming album by British rock band Last Great Dreamers.
The millionaire has memorabilia including a £3,000 signed Guns ‘N’ Roses guitar and a collection of Bowie vinyl at his £6million Grade II listed country mansion.
Despite the changes in his life since 2012 – including a split from wife Gillian in 2013 – he says his passion for music has not waned.
He continued: “It’s something I enjoy, it is something I enjoy being involved with, people like music and they like getting their hands on it.
“Not everyone wants to buy online, we offer a unique experience in the shop, catering from eight-year-olds to 80-year-olds.”
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