IT IS one of the world’s most sought-after books, a long-lost medieval manuscript which has eluded scholars for centuries.

Now the unique text — valued at £500,000 — has been unearthed in Sir Walter Scott’s library, where it has lain undisturbed for almost 200 years under a plain leather cover.

The discovery of the Legenda Aurea, or Golden Legend, has been hailed as the find of a lifetime by scholars of medieval English, many of whom thought the book had been lost for ever.

Curators unearthed the book, which details the lives of saints, while carrying out the first audit of Scott’s library since his death in 1832.

Scott, an avid collector of books and other rare artefacts, bought the book for 10 guineas at auction. Unaware of its importance, he took it to Abbotsford House in the Borders, where it has sat on the shelves of his library ever since.

The 15th-century manuscript is one of only three known English translations of the popular religious work written in Latin by Jacopo de Voragine, the 13th-century Archbishop of Genoa.

While scholars had already located several copies of the other two, the Abbotsford House book is the only known translation by Osbern Bokenham, the Augustinian friar and poet.

The discovery was made by the Faculty of Advocates, which was gifted the contents of the Abbotsford library by trustees in the 1970s.

Lindsay Levy, who audited the collection of more than 9,000 volumes, discovered the 550-year-old manuscript.

“It was only when I opened the binding of the Legenda that I could see how beautiful it was and I thought it could be something quite special,” she said.

“The experts were amazed. They had never seen anything like it.”

Dr Simon Horobin, a specialist in medieval English based at Glasgow University, has traced the book back to Clare Priory in Suffolk, one of the oldest religious houses in England, where he believes it was produced by Bokenham in the 1440s.

Other writings from Bokenham suggest the volume was commissioned by Richard, Duke of York, who, along with the Earl of Oxford, was the poet’s patron.

In the 18th century, the manuscript came into the possession of Robert Smyth, a book collector with property in the Suffolk area. In 1809 he put the book up for auction at Sotheby’s in London, which catalogued the work as “a middle English manuscript”. It was at this auction that Scott, the author of Ivanhoe, Rob Roy and The Heart of Midlothian, bought it.

“We knew about this translation but nobody has ever been able to identify its whereabouts before,” said Horobin.

“There are records which show that many scholars spent decades searching for this in the 19th century in places like the British library. All the while it would have been sitting in Scott’s home.”

Some academics had come to believe that another translation, written in 1438 and attributed only to “a wretched sinner” was the work of Bokenham. However, distinctive features described by the poet in his other writings were missing.

The Abbotsford House book, complete with verse and prose sections and additional legends, matches Bokenham’s description of the work, according to Horobin, who is convinced the book is unique.

“Much of the rest of his work has survived in single copy. He was very much a local writer and probably wouldn’t be interested in attracting a wider audience,” he said.

“It’s a deluxe manuscript. It doesn’t have illustrations but it is very professionally done, using expensive parchment rather than paper and lots of gold leaf. It would have been a very expensive commission.”

Fraser Elgin, secretary of the Sir Walter Scott Club, said it was an exciting discovery which would provide a further insight into Scott’s influences.

“He had a tremendous collection of books and artefacts from all over the world — he owned over 1,200 books by the time he was 12 years old,” said Elgin.

“I am sure there will be a lot of interest in how this book might have influenced his work.”

The Faculty of Advocates has produced a microfiche of the book that will allow scholars to examine the volume.

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