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The pants, as they are known in the US, authenticated by Levi Strauss and Co, were made from 9oz denim at the Amoskeag Mill in Manchester, New Hampshire, between 1880 and 1885. They lacked belt loops, instead featuring a button-and-snap system designed for use with braces. Damage included a 15in tear along a seam to the crotch, a 6in tear at the left knee, several small holes, rusting and fading.

Denim dates to the 18th century when American manufacturers experimented with different fabrics to create comfortable and sturdy work clothes, but Levi Strauss left an indelible mark on both the clothing trade and social history when he introduced a special metal riveting process in 1873.

By applying copper rivets to the corners and back pockets of the denim trousers, Strauss strengthened the design and so produced a template for the jeans we wear today.

The most valuable, and oldest pair of jeans before this auction were the c.1890 pair for which Levi Strauss and Company had paid a New York dealer $25,000 three years ago. However, experts for the jeans company thought that the pair on eBay were even older, and thus the company was forced to go as far as $46,500 (£33,800) to make the purchase, quite an improvement on the $1.25 they are thought to have cost in the late 19th century.

“I am thrilled that the world’s oldest pair of Levi’s jeans have come home after more than 110 years,” said Bob Haas, chairman of Levi Strauss & Co. “This is an important piece of our company’s history and it’s great that they will now be preserved in our archives.”

But first they have to be replicated, mass produced and retailed to the general public at $250 through Levi’s Vintage Clothing line.