A VICTORIA CROSS awarded to a Perthshire bomber pilot for an outstanding act of gallantry sold yesterday for £348,000 at a London auctioneers.

The medal, which was presented to Flight Lieutenant William Reid from Crieff, was bought by an anonymous bidder at Spink, setting a new world record price for a Victoria Cross awarded to a Briton.

Flt Lt Reid, who died in 2001 aged 79, was with 61 Squadron RAF Reserve when, on November 3, 1943, on the way to Dusseldorf, his Lancaster’s windscreen was shattered by fire from a Messerschmitt and the gun turrets and cockpit badly damaged.

Despite sustaining multiple injuries, the then 21-year-old pilot continued on his mission.

His aircraft was attacked again, his navigator killed and wireless operator fatally wounded.

Flt Lt Reid himself was wounded again, as was his flight engineer, and the aircraft received more serious damage.

Nevertheless, he reached his target, released his bombs and turned for home.

In spite of growing weakness from loss of blood, he managed to land his crippled bomber safely.

Mark Quayle, medal specialist for Spink, said after the sale, “This was a fully justified price reflective of a remarkable act of gallantry.”

Flt Lt Reid, who later joined the RAF’s 617 Squadron, better known as the Dambusters, was shot down in 1944 and spent the rest of the war as a prisoner.

The medal, which is the highest honour for gallantry in the armed forces, was first awarded in 1854.

At Mr Reid’s funeral, held in Crieff, Tornado pilots from 617 Dambuster Squadron, based at Lossiemouth, paid tribute with a four-aircraft flypast.