Dragons Den entrepreneur buys Margaret Thatchers parliamentary robes for how much!?

During what was described as an intense six-hour sale of the former prime ministers belongings, Westwood ended up paying 81,7000 70 times the estimated guide price.</p >

Westwood was up against a mystery bidder from South Korea, who helped push up the robes’ price from it’s initial projection of 1,200- £1,800.</p >

British entrepreneur Westwood is best known for being one of the most successful candidates to appear on the BBC TV investor show Dragons Den. Back in 2008, Westwood and his technology business Magic Whiteboard secured 100,000 from Theo Paphitis and Deborah Meaden.</p >

Some six years since the pitch, Westwood and his wife Laura bought the shares back from Meaden and Paphitis for 800,000</a >.</p >

Read more about Dragons’ Den stories:</strong ></p >

  • Dragons’ Den who needs them From a collapsed deal to scalable growth</a ></li >
  • Meet the most entertaining entrepreneur to visit Dragons’ Den</a ></li >
  • Rejection meant nothing to the 2014 success of these four companies</a ></li ></ul >

    Explaining why he bought Thatchers parliamentary peeress robes, Westwood said: Margaret Thatcher was prime minister when I grew up in the 1980s and 1990s.</p >

    She inspired me to become an entrepreneur and set up my own business, and 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. </p >

    The auction, and Christies in London, also saw her red prime ministerial dispatch box sell for 242,500. Other lots included her blue velvet wedding dress ( £25,000), a famous speech transcript ( £37,500) and collection of writings from Winston Churchill ( £32,500).</p >

    In total, 150 of her personal items were sold more than two years after Thatcher died at the age of 87 on 8 April 2013. To this day, Thatcher is the only female to hold the office of prime minister.</p >

    Looking at the success of his product, which which allows customers to create a whiteboard from a roll anywhere, in seconds, and decision to buy back shares from Meaden and Paphitis, Westwood said previously: “I will always remember sending over 300,000 (having checked sort code ten times to make sure it was correct) to both Theo and Deborah from the Lloyds Bank desk in Worcester, just like I was paying a gas bill.</p >

    “But we now get to keep 100 per cent of the profits which is a great incentive to work hard. Six months later, sales have increased thanks to new products such as the reusable Magic Notebook and the Magic Blackout Blind. Cash flow has increased and is back to normal.”</p >

Share this story

Leave a Reply

Your email address will not be published. Required fields are marked *

Close
Menu
Send this to a friend