The Most expensive flag sold at an auction is an American Revolutionary War battleflag from 1776, the year the US declared its independence. The item went to an anonymous buyer on 14 June 2006 for $12,336,000 (£6,707,264), including buyer's premium, at Sotheby's in New York. The regimental standard of the 2nd Continental Light Dragoons was captured by British cavalry officer, Lt. Col. Banastre Tarleton at Pound Ridge, Westchester County, New York, on 2 July 1779 and subsequently shipped to England, where it remained until it was put up for auction by one of his descendants.