Margaret Thatcher portrait saved from tip breaks sale expectations

The oil painting was a birthday gift for Mrs Thatcher

A portrait of Margaret Thatcher rescued from a rubbish tip has sold at auction for a higher-than-expected £1,100.

The unsigned oil painting was a gift to the former prime minister and had been kept in a storage unit in London.

It was sent for disposal 20 years ago but was rescued by the seller's father, who worked in the waste industry.

Auctioneers Sworders, which had expected it to sell for up to £700, said it had attracted a lot of interest and was sold to a buyer in the UK.

The painting of Mrs Thatcher, from Grantham in Lincolnshire, was a birthday present from Professor Bacharuddin Jusuf Habibie, who later became president of Indonesia.

A brass plaque on the artwork says: "From a true friend and admirer with sincere best wishes on your birthday, 13th October 1995."

A brass plaque on the oil painting details its presentation

It was discovered along with other official gifts to Mrs Thatcher including photographs of her posing with SAS soldiers who stormed the Iranian Embassy in 1980.

Also discovered was a bronze bust of former U.S. President, Ronald Reagan, which was believed to be a gift to Reagan from the PM during state visit in 1982. It sold for £11,700.

In total all the items were sold for £15,000.

The seller inherited the items from his father who had taken the items home as souvenirs.

Mark Wilkinson from Sworders said the "exact circumstances how these items came to be thrown away are unknown".

"There are some historic objects in the collection, items that point towards some of the important relationships and events in Margaret Thatcher's tenure as the PM," he added.