Speaking to The Guardian, a Mr Ian Rushbrook of Edinburgh said he'd bought the bag as a "tribute to a great national leader."

The Jaggy Thistle understands that the bag contains a shrivelled, desiccated organ, believed to be the great leader's heart for which she had no conceivable use.

The success of the auction, for charity, so that's alright then, is likely to lead to further opportunities for other millionaire businessmen to indulge in soppy nostalgia and ancestor worship.

Coming up soon:

• General Pinochet's walking stick, redundant after the senator's return to rude health immediately on clearing UK air space..
• Ronald Reagan's brain, mint condition, never used…
• Jonathan Aitken's shining sword of truth, rusty, stuck in scabbard…
• Neil Hamilton's brass neck..

Mrs Thatcher told the press that she was pleased one of her bags had gone to a good home.

In that leaden way that Tories have of mimicking human behaviour by attempting "jokes" she was quoted as saying "My handbags did good service in cabinet." Although its understood that she preferred the Glock 9mm for its stopping power over a short distance.