That listing has ended, but the pics were still up today. When I look at the water stain I do see it continuing into the red stripes. In my opinion it is a reasonably well made reunion flag of polished cotton, ca 1900-1920. It does not have any of the fine details you find on 1860's flags, but it appears to be an antique to me. I'd say the opening price of $7k was five to ten times the flag's value.