Victoria Cross fetches record price at auction

A Victoria Cross, awarded to an Australian soldier for his valour at Gallipoli in the first world war, was sold yesterday for a record A$1m (£405,000). The buyer preferred to remain anonymous, but it is expected that the medal, awarded to New Zealand-born Captain Alfred Shout in 1915, will go on permanent display at the Australian War Memorial. It was the last privately owned Gallipoli Victoria Cross in Australia and exceeded the anticipated price by about 50%. Capt Shout's grandson, Graham Thomas, decided to sell the medal to finance his grandchildren's education.