As you might have heard, a handbag belonging to Margaret Thatcher sold for £25,000 last week at a charity auction. The black, leather Asprey bag was donated by the Iron Lady herself and fetched just a quarter of its £100,000 pre sale estimate, providing one lucky bidder with the bargain of a lifetime.
10 years ago, another of Thatcher’s handbags sold for £103,000, so why did this one fetch so little? Well, this auction was invite only, which means that many private collectors who would love to have bought the bag did not get the opportunity, Paul Fraser Collectibles included!
I was lucky enough to be interviewed alongside the auctioneer of the sale, who was none other than Lord Jeffrey Archer.
Lord Archer and I were interviewed together by BBC News Channel’s The Record Review, regarding the sale of Thatcher’s handbag, and the market for political memorabilia in general.
You can watch the interview here (it starts about 12.35 in).