Ronald Reagan's foundation has expressed outrage towards a British auction house for selling a vial of the former US President's blood in an online auction.

Guernsey-based PFC Auctions announced it was selling the vial of blood last week - which was taken following the failed assassination attempt against Reagan in 1981 - with the auction set to end of 24 May.

The vial was taken at George Washington University Hospital on March 30, 1981, after Reagan was wounded by John Hinckley Jr. in Washington, DC. It is said to have come from a person whose late mother had worked at a medical lab.

John Heubusch, executive director of the Ronald Reagan Presidential Foundation, said in a statement: "If indeed this story is true, it's a craven act and we will use every legal means to stop its sale or purchase."

Bids above £7000 have already been made for the vial, which has a label bearing Reagan's name, and supporting documents.

"These articles have actually been in my family's possession since 03/30/1981, the day that President Reagan was shot in Washington D.C," the seller writes in the letter of provenance.

The seller also claims he had been contact by the California-based Ronald Reagan Library and Museum, which is run by the late president's foundation, and was told the Reagan family would like the vial given to them.

"I told him that I didn't think that was something that I was going to consider," the seller writes.

"I was a real fan of Reaganomics and felt that President Reagan himself would rather see me sell it rather than donating it."

Reagan suffered a punctured lung and internal bleeding after he was shot by Hinckley outside the Washington Hilton Hotel.

Hinckley was later found not guilty by reason of insanity and is currently being treated at a psychiatric hospital.

Reagan died in 2004 aged 93 having served two terms as president.

A vial of former US President Ronal Reagan’s blood with lab slip (AFC/Handout)
A vial of former US President Ronal Reagan’s blood with lab slip (AFC/Handout)