Christie's Margaret Thatcher Auction

PURSE PROBLEMS: Carol Thatcher, the daughter of Britain’s only female Prime Minister, has reportedly blocked plans for a statue of her mother, which was commissioned to be erected outside Parliament, alongside figures such as Winston Churchill and Lloyd George.

The reason for Thatcher’s disapproval had arisen when the sculptor failed to depict the Iron Lady’s signature Launer handbag.

The U.K.’s Public Memorials Appeal Trust raised 300,000 pounds, or $427,000, for the work. While the 10-foot bronze sculpture was completed last year, Mayor Boris Johnson could not approve the statue to be erected, given the family’s objections.

According to British media reports, Thatcher also disapproved of the fact that the statue is not made of iron. The sculptor’s name will not be revealed until the statue is unveiled.

Launer chief executive officer Gerald Bodmer declined to comment on the issue but highlighted that Margaret Thatcher was “a great supporter of all things British and really believed in the Launer brand.” The British label was a favored brand worn by the monarch.

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While the British politician might have been better known for her strict economic policies than her dress sense, this is not the first time her fashion choices have attracted attention recently.

Last December, an auction of her personal fashion items at Christie’s outstripped expectations, drawing bidders from around the world, including Australia, Oman, Malta and Korea. One of her signature boxy Launer handbags was among the items which sold well above its guiding price.

Other items included a gold lamé jacket and evening skirt by Aquascutum that was estimated at 1,800 pounds, or $2,700 at current exchange, and sold for 30,000 pounds, or $45,400, while the velvet blue wedding dress she wore in 1951 was estimated at 10,000 pounds, or $15,000, and sold for 25,000 pounds, or $38,000.

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