Margaret Thatcher's peeress's red robe achieved a record sale price of £81,700 at auction house Christie's last night on 15th December in London. Magic Whiteboard will be offering Baroness Thatchers Parliamentary Peeresses robe free to museums on loan.
Watch Margaret Thatcher becoming a full member of House of Lords in 1992 (wearing parliamentary red robes)
Baroness Thatcher's parliamentary peeress robe was the last item to be auctioned after an intense 6 hour sale of the former Prime Minister Margaret Thatcher's belongings. All items went in excess of their guide prices.
The successful bidder was Managing Director Neil Westwood from Dragons' Den winners Magic Whiteboard based in Worcester. A bidding war was sparked when a bidder from Korea continued to bid against Mr Westwood. The robe was estimated to sell for £1200- £1800. Bidding quickly rose to £20,000, then £50,000 and ended up at £81,700. This was 70 times the estimated guide price, a record for the auction. Telephone and online bids were received from Korea, USA and Japan and the United Kingdom.
Neil Westwood said "Margaret Thatcher was Prime Minister when I grew up in the 1980's and 1990's. Margaret Thatcher inspired me to become an entrepreneur and set up my own business, I wanted to show Mrs Thatcher respect by buying something historic that was important. I also wanted to keep the robe in the United Kingdom so people could see it. I didn't want it to leave the country.
Magic Whiteboard www.magicwhiteboard.co.uk was successful on BBC Dragons' Den in 2008, receiving £100,000 investment from Theo Paphitis and Deborah Meaden. It became one of Dragons' Dens' most successful investments. Magic Whiteboard is a portable whiteboard on a roll that clings to any flat surface. In 2014, founders Neil and Laura Westwood bought back their original shares for £800,000 and now own 100% of Magic Whiteboard.