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Eagle-eyed political observers have spotted Theresa May wearing a bracelet very similar to one owned by Margaret Thatcher.

As she waved goodbye to the nation after three rocky years of leadership yesterday afternoon, the outgoing PM flashed the distinctive piece of jewellery.

The gold pebble bracelet Mrs May had on her right wrist was very similar to one worn by the Iron Lady.

Mrs Thatcher donned the trinket on the day she became the country's first female prime minister in 1979 and 11 years later when Nelson Mandela visited Downing Street.

(Image: AFP/Getty Images)

Several months after the South African icon's stay, a politically weakened Mrs Thatcher donned the bracelet as she left No.10 for a final time in November 1990.

While Mrs May could have simply picked up a copy, the sale of Mrs Thatcher's piece for £40,000 during a Christie's auction earlier this year would make that quite a coincidence.

Mrs Thatcher was gifted the bracelet, which features colourful cabochon gems, from her late husband Denis and she also wore it when she welcomed Soviet leader Mikhail Gorbachev to Chequers in 1984.

(Image: Gamma-Rapho via Getty Images)

The winning bidder of the gold band was never revealed, raising questions about whether the country's second female PM shares a taste in jewellery with her predecessor.

More than £1 million was raised during the auction which saw bidders from 36 countries across six continents attempt to get their hands on a Mrs Thatcher heirloom.

There were 170 personal items up for grabs in the sale to mark the 40th anniversary of the UK's first female Prime Minister.