Victoria Cross fetches record price at auction

The auction house Bonhams and Goodman have sold the last privately owned Victoria Cross awarded at the World War I Gallipoli campaign in Sydney tonight. The medal was awarded to New Zealand-born Australian soldier Captain Alfred Shout. The sale price of $A 1 million surpassed the previous record of $A575,000 set in 2004 for the VC medal awarded to Sergeant Norman Jackson of the RAF 1944.

The Victoria Cross is the highest recognition for valour "in the face of the enemy" that can be awarded to members of the British and Commonwealth armed forces and civilians under military command. It is also the highest award in the British Honours system.

The buyer is an Australian businessman, auctioneer Mr Tim Goodman said "I can confirm the buyer is a prominent Australian businessman who is going to work with the RSL to make sure the medals go on display at the Australian War Memorial in Canberra", after commissions and other charges the successful buyer will pay $A1,214,500.

The addition of this medal will take the display of Victoria Crosses at the Australian War Memorial to 60. The display will include all nine Victoria Crosses awarded to Australian servicemen at Gallipoli.