A flag believed to have been used by Richard III's army at the Battle of Bosworth has sold at UK auction house Lockdales.

Richard III's defeat led to the dawn of the Tudor dynasty, which would rule over England until 1603

The fragment of flag was discovered in a pile of material bought from a house clearance sale, but achieved £2,800 ($4,655) on February 13 as bidders realised its worth.

The Battle of Bosworth, the decisive encounter in the war of the roses, took place in 1485 and ended with King Richard III slain at the hands of Henry Tudor, launching the Tudor dynasty that would reign over England until 1603.

Dr Maria Hayward, a textile expert from the University of Southampton, told the BBC the flag most likely dates to the late 15th century, though the technique used to create it is not typical:

"Potentially the most unusual feature is the use of staining to create the design. It was a technique that was in use in the 15th century but it was not mentioned much in the context of flags being produced for the crown," she said.

The flag has yet to be fully analysed, but auctioneer Chris Elmy explained: "The type of fabric, its age and designs are all plausible for the Yorkists of Richard III's era."

Richard III has been brought into the limelight recently, as his skeleton was discovered under a car park near where the battle took place. As a result, the value of items relating to the Yorkist king has increased, with another piece of flag from Bosworth selling for $6,500 in 2013, while a signed document made $52,500.

Britain's iconic monarchs are highly collectible - see our selection of manuscripts for sale, including items from Henry VIII and Elizabeth I.