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Margaret Thatcher’s suits up for auction

Business suits of former British Prime Minister Margaret Thatcher. (AP Photo/Sang Tan/The Canadian Press)
Have you ever wondered what it feels like to carry the fate of great nation in your hands? Or, if you're a woman, exactly what a lady like Margaret Thatcher was thinking on the day she was confirmed as the leader of the conservative party? While you may never have the chance to find out, this coming Monday you you'll at least have the chance to buy one of Margaret Thatcher's iconic power suits.

Seven of the Iron Lady's suits are hitting the block this Monday, at a special London-themed event that will also see an original 1966 Routemaster bus, vintage posters of London landmarks and a model of London Zoo's Guy the Gorilla auctioned off, reports BBC News.

The dresses, which Thatcher wore at the beginning of her reign in the '70s, are expected to fetch between 1000 to 1500 pounds each.  When you think about the fact that a Chanel suit can easily cost upwards of $2500, Thatcher's old threads start to look like a bit of steal. Last year one of her handbags sold for $25,000, likely as a result of the expression "handbagging" for the way she handled unruly backbenchers during her years as prime minister.

Here in Canada, our lone female PM, Kim Campbell, was only in office for a little over four months — hardly long enough for her padded '90s suits to be auction-worthy.

Our neighbours to the south have a far more illustrious history of suit worship: the pink Chanel suit that Jacqueline Kennedy wore the day John F. Kennedy was assassinated is held in the National Archives in a temperature-controlled secret room that has the air changed six times a day. It has never been on public view, but may be revealed in 2013 in accordance with the family's wishes.

Now that's some suit-related mystique.

To learn about this fall's fashion dos and don'ts, check out the video below.

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