Looks like the item is one manufactured by Bourne & Leigh Ltd. , based (@ one time) in Burslem , Staffordshire , England ( B&L Ltd. used both the Leighton & Albion potteries in Bursem ) .
The hallmark on your nice item appears to be one from the 1930's , to me , Pringleplace .
I'd say that your friend's item would be considered collectable , esp for collectors of English blue 'transfer' earthenware things ....