Selected items from Margaret Thatcher's wardrobe are to be auctioned off as part of a sale of her personal effects.

Clothes, jewellery and mementoes - including her red leather despatch box - belonging to the former prime minister are being put up for sale by her family.

Approximately 350 lots will go under the hammer by auctioneers Christie's in London next month.

The auction comes after the Victoria & Albert museum turned down the chance to display her outfits to the public, according to reports.

The most valuable lot is an art deco emerald and diamond necklace by Chaumet, which has an estimate of between £120,000 and £180,000, while other items will carry estimates of just a few hundred pounds.

Proceeds will be split between Lady Thatcher's children, Sir Mark and Carol, and her grandchildren.

A Christie's spokesman said: "In the year that 'The Iron Lady' would have celebrated her 90th birthday, approximately 350 historic and personal lots will be offered across two landmark sales: a flagship auction presenting 150 lots will take place in London at Christie's headquarters on December 15, and an online-only sale comprising 200 lots will open for bids on December 3 and run for two weeks until December 16.

"These sales are taking place 25 years after Margaret Thatcher left office, at the end of her 11-year high-profile tenure as prime minister.

"These auctions present unique opportunities, across price levels, for collectors around the world to acquire property from the longest-serving prime minister of the United Kingdom in the 20th century and the only woman to have held office to date."

The entire collection is estimated to be worth up to £500,000.

It comes after the Thatcher estate donated documents written by the former Conservative leader to the nation in lieu of inheritance tax to the value of more than £1 million.

The papers, including three personal handwritten memoirs, are available to the public at the Churchill Archives Centre in Cambridge.

Business Secretary Sajid Javid tweeted: "Shame the V&A has turned down Thatcher's personal collection. I for one would have loved to see it!"

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