A 19th century oil painting of Richard III created by a local artist has sold for more than twice the estimate at auction. The University of Leicester bought the artwork yesterday at Gildings auction house, in Market Harborough, for £7,300. It was expected to sell for about £3,000. The piece was painted in 1880 by Leicester-born artist John Fulleylove, and shows Richard III sitting on the back of a white warhorse on the eve of battle. The painting also shows the Blue Boar Inn, where Richard and his entourage are thought to have spent their final night before riding off to Bosworth Battlefield to face Henry VII. Professor Sir Robert Burgess, Vice-Chancellor of the University of Leicester, said: "I am delighted that the University of Leicester has been able to acquire this work of art. "A picture of Richard III at the Blue Boar Inn was a must have for the university, especially as it was painted by a local artist, and is an accurate portrayal of the Inn and links to our world class research. It will be a valuable addition to our art collection." The university said it has not yet decided where it will display the painting.