Margaret Thatcher's suits sell for $116,000 at auction

Seven suits belonging to former British Prime Minister Margaret Thatcher, including the one worn on the day she was confirmed as Conservative party leader, fetched nearly ($116,000) £73,000 at a London sale on Monday.

The jade green wool outfit worn for her Tory coronation in February 1975 proved to be the prize lot at the Christie's auction, selling for £25,000 ($39,700)  to an anonymous bidder.

An online bidder in South Korea snapped up the six remaining garments for £48,125.

The suits are thought to be the first of Thatcher's clothes to be sold at a public auction.

The divisive leader's famous handbag which struck fear into the hearts of British ministers during the former premier's rule sold at a charity auction last year for £25,000.

Thatcher frequently used the black Asprey bag on important occasions, such as summits with then US president Ronald Reagan and Soviet leader Mikhail Gorbachev during her 1979-1990 premiership.

The items formed part of Christie's "London Sale", a unique auction held to celebrate Queen Elizabeth II's Diamond Jubilee and the London Olympics.

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