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TORONTO - A rare, 1868 Canadian Red Ensign flag will hit the auction block this summer.
Sotheby's Canada says the item will be in its June 2 sale of Important Canadian Art in Toronto. The auction house says the vibrant, red flag is in "exceptional condition" after being in a private collection for many years.
It measures about one metre by two metres and bears the Union Jack and the coats of arms of the four founding provinces - New Brunswick, Nova Scotia, Ontario and Quebec.
The presale estimate is $40,000 to $60,000, not including the buyer's premium.
The Red Ensign was primarily a flag for the British merchant marine and later became widely recognized as Canada's first "national" flag.
In 1924, the Canadian Red Ensign was given official recognition and remained Canada's official flag until the Maple Leaf was adopted in 1965.
