Another rare World War I VC has been sold in Sydney by Bonhams & Goodman. The important VC awarded to Lance Corporal Bernard Sidney Gordon of the 41st Battalion Australian Imperial Forces (A.I.F) sold for $480,000 including buyer's premium.

"It's a fantastic result", said Tim Goodman, Chief Executive Officer at Bonhams & Goodman. "Although I can not disclose the buyer of the medal at this point in time, I believe all interested parties will be delighted with the outcome," added Goodman.

Bidding for the VC opened at $150,000 and the medal was hotly contested by four interested parties - one on the telephone and the other three in the room. The hammer went down at $400,000 to the successful bidder - a lady bidding for another party who wishes to remain anonymous. The new owner of the Victoria Cross is understood to be an Australian citizen. Australian heritage laws prevent the medal from being sent overseas although there was interest from France and the United States.

"This is the second highest price realised for a medal in Australia, the forth highest price for any medal sold in the world and double the figure we estimated it may sell for", said Goodman. "The Shout VC sold by us earlier in the year for $1.2 million has now set a precedent for medal sales as evidenced by this result," added Goodman.