It flew above one of Britain's greatest naval triumphs more than two centuries ago.
Now a flag believed to be the only surviving Union Jack from the Battle of Trafalgar is an historic win for its Australian-based owner after selling for a staggering Stg384,000 ($A680,368) at auction in London.
The standard, put up for sale after being discovered in a drawer, was expected to fetch about Stg15,000 ($A26,576) at Wednesday's auction, which coincided with Trafalgar Day, the anniversary of the battle 204 years ago.Auctioneer Charles Miller of Charles Miller Ltd said he believed the eventual sale price was the highest paid for a Napoleonic flag at auction.
"I am absolutely lost for words and extremely pleased with the result of today's sale, which saw the flag sell for 25 times its top estimate," Miller said."This demonstrates that this is a unique and charismatic artefact linked to both Nelson's greatest triumph and the greatest naval battle of all time."
Another battle loomed over the flag after it emerged the successful bidder was a collector in America.The UK government imposed a temporary export ban to give British museums a chance to match the sale price and stop the flag from heading to foreign shores.
But Miller said the new owner was happy to talk to authorities about allowing the flag to remain in the UK."The interest in the flag was unbelievable and the atmosphere in the room was thrilling, culminating in two bidders - one in the room and one on the telephone," Miller said.
"The successful bid came from a collector in America, who would like to talk to the relevant bodies in the UK about the flag being displayed in a museum in Great Britain."Miller described the flag, marked by shot and still bearing a faint scent of gunpowder, as extremely evocative.
"Any artefact from Trafalgar is significant, but the national emblem, battle-scarred to boot, is going to be in the next league," Miller said.On October 21, 1805, 27 British ships under Admiral Lord Nelson's command squared up to 33 French and Spanish vessels west of Cape Trafalgar, on the southwest coast of Spain.
Nelson's forces sank 22 enemy ships without losing one of his own.The victory confirmed Britain's naval supremacy and ended Napoleon Bonaparte's hopes of invading the British isles.
The flag, measuring 224cm x 356cm, flew above HMS Spartiate in the sea battle.Its 540 crew had stitched it together and, after the battle, presented it to Lieutenant James Clephan in recognition of his bravery.
The flag was sold by one of his descendants, who lives in Australia.
