Even before the Gregorian Calendar’s year 1, the Romans used vexilloids—flag-like objects—to represent their empire. Nowadays, every nation has its own proper flag. Sometimes a particular flag will gain monetary value from its presence at a particular event. What is the most expensive flag in the world?

Recently, a Union Jack—Britain’s flag—was sold for a record-breaking price at auction. The flag was owned by the descendants of Second Lieutenant James Clephan and is the only surviving flag from the Battle of Trafalgar in 1805, when Britain prevailed against the combined forces of the French and Spanish fleets without losing a single ship.

The 11 ft by 7 ft flag has a fair number of holes, but considering it survived gunfire and chainshot—ammunition made specially to take down masts and other rigging—its condition is remarkable.

While it was only expected to sell for £10,000, its final sale price on Trafalgar Day (October 21st) in 2009 was £384,000—over US $600,000. That price makes it the most expensive Union Jack ever sold, but is this the world’s most expensive flag?

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