Thatcher's famous handbag auctioned for $40,000 - WAOW - Newsline 9, Wausau News, Weather, Sports

Thatcher's famous handbag auctioned for $40,000

LONDON (AP) -- One of Margaret Thatcher's handbags has fetched 25,000 pounds ($39,953) at a London charity auction.

The boxy black leather Asprey bag was owned by the former British prime minister for over 30 years. It was on Thatcher's arm during Cold War negotiations with U.S. President Ronald Reagan and Soviet Union leader Mikhail Gorbachev.

The former Conservative leader was famously responsible as the origins of the word "handbagging," which referred to her uncompromising style.

Her bag was sold at Christie's auction house Monday at a charity event hosted by author Jeffrey Archer.

Christie's said Thatcher will donate the proceeds to a British charity for people with a genetic skin condition.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

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