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A throne on which cyclist Bradley Wiggins sat after winning gold at the London Olympics has failed to sell at an auction in central London.

Graham Budd Auctions expected the chair to fetch between £10,000 and £15,000 when it went under the hammer at Sotheby's in New Bond Street.

But the maximum bid was £9,500. Wiggins sat on the chair at Hampton Court, Surrey, after winning the time trial.

The auctioneer hopes the "important chair" will sell at a later date.

Wiggins, 32, became the first British cyclist to win the Tour de France weeks before landing gold at the Olympics. The time trial victory at Hampton Court Palace was his fourth Olympic gold and seventh Olympic medal.

Graham Budd, sports memorabilia auctioneer, said he was astonished the theatrical prop from the Cricklewood-based prop firm Theme Traders did not sell.

It added: "The chair is important because it is one of the iconic images of the Games.

"I think it would be a conversational piece, and it is magnificently kitsch."