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Famous Thatcher handbag auctioned for $40,000 (AP)

Britain's Lord Archer, left, accepts bids for a handbag that was once owned by former British Prime Minister, Baroness Margaret Thatcher, for more than thirty years at a charity auction at Christie's in central London, Monday June 27, 2011. The handbag fetched 25,000 pounds ($39,880/28,100 euro) when it went under the hammer. It was bought by an unnamed Cypriot who is understood to have been a student in Britain during Margaret Thatcher's tenure as prime minister. (AP Photo/PA, John Stillwell) UNITED KINGDOM OUT NO SALES NO ARCHIVEAP - One of Margaret Thatcher's famous handbags fetched 25,000 pounds ($39,953) at a London charity auction Monday.