The managing director of a South Yorkshire demolition company, Ian Whyman, has become a knight following an auction in Malmesbury at the weekend.
Sir Ian, from Barlborough, in Derbyshire, successfully outbid his rivals at Hilditch auction house to buy two knightships for around £7,000 on Saturday.
The knightships, which give the bearer the right to call him or herself sir or dame, were originally bestowed on brave bowmen in the 14th century. They are different to knighthoods, which can only be given by the monarch.
Sir Ian, 55, said he bought his two knightships mainly as an investment, but was inspired to up his status by a friend who recently purchased a lordship.
"You get upgrades on aeroplanes and upgrades in hotels, it's quite handy really," he said.
"And they are nice investment and they don't come up for sale very often."
He read about the sale in a trade magazine and contacted Hilditch auctioneers to bid for the titles over the phone, from his Derbyshire home.
The proud new owners have bought themselves a place in the Company of Plantagenet Toxophilites, which gets its name from the Plantagenet kings of England and the Greek word for archer.
Originally 250 field knightships were given to the company for it to grant to those who proved themselves worthy on the battlefield.
To this day, knights of the Company of Plantagenet Toxophilites have the right to join fellow members of the company for archery at annual gatherings in country houses or shooting with the royal family.
The knightships can be passed on to the bearer's relatives, given away or sold on.
The title deeds to the knightships were held by Lord Charles Buchanan Turner of Lincolnshire who is donating a portion of the £16,800 raised to children's charities.
