• Caught in the debt trap?

    Help us help you by taking our second annual Debt survey and you could win R3 000.

  • Rich man, poor man

    Culture change from below is the only way to overcome poverty, says Leopold Scholtz.

  • Tech bubble talk

    After the tech euphoria of 2013, the fast-moving sector has hit a speed bump.

Data provided by McGregor BFA
All data is delayed
See More

Handbag fetches £25 000 at auction

Jun 28 2011 13:10 Reuters

Related Articles

Diamonds soar at Christie's sales

Billionaires vow to give away wealth

World's costliest car goes on sale

Beijing targets luxury ads

Hermes: high-end market still upbeat

Prada plans to expand stores

London - A handbag belonging to former British Prime Minister Margaret Thatcher sold for £25 000 at a charity auction late on Monday, Christie’s said.

Best-selling author and former Conservative politician Jeffrey Archer was wielding the gavel at the auctioneer’s London showrooms at a sale where proceeds went to the charity chosen by each contributing sportsman, politician or musician.

Top price on the night was paid for the chief timekeeper’s stop watch that recorded Roger Bannister’s first four-minute mile in 1954.

Donated by Archer himself, it fetched £97 250 and proceeds will go to the Oxford University Athletics Club.

Archer had said before the sale that he expected Thatcher’s handbag, which she owned for over 30 years, to sell for around £100 000, but in the end it fetched a quarter of the amount.
It was pictured with the former prime minister alongside US President Ronald Reagan during her visit to the United States in 1985, and the money raised will go to Combat Stress, The British Forces Foundation and Debra.

A signed Fender Telecaster guitar donated by Eric Clapton fetched £15 000 and a hospitality package to next year’s Monaco Grand Prix, given by Formula One supremo Bernie Ecclestone, sold for £34 850.

Overall the sale raised £402 100, short of what Archer had hoped for. The amateur auctioneer had aimed to beat his own single sale record and make a million pounds.

Later on Tuesday at Christie’s, Archer will sell off some of his art collection, including an 1878 painting by Claude Monet valued at £1.2m to £1.7m.

“It’s a very good time (to sell),” Archer told Reuters before the sale. “The Chinese and Russians are collecting for the first time. I’m selling 10% of my collection - at the age of 70 I decided I wouldn’t live forever!"
The collection is expected to fetch around £5m.
margaret thatcher  |  handbag  |  auction


Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Add your comment
Comment 0 characters remaining

Company Snapshot

We're Talking About: Small Business

Standard Bank is looking for 12 entrepreneurs to participate in a 10-part TV series. They could win a R1m investment into their dream.

The rich will pay - Mpofu

The EFF in Gauteng will focus all its energy on improving the lives of the poor, the party's premier candidate Dali Mpofu says.


Latest elections multimedia

Watch what happened when we blindfolded Helen Zille and asked her to eat random things
13 days to elections - news you need to know
11 Julius Malema quotes you'll never forget
DA won't get 30% - Zille

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...