Need ID info on German flag

[dejacque]

Greetings,
I was shown a WWII German flag a young man found inthe attic of his Grandfather. I would like some ID on exactly what he has.,ie, how it was flown, usual possibilites and locations of display. It measures 30" wide by 52" long. It has heavy rope like mounting lugs on each end, and some ID numbers on that white mounting hem line, which will hopefully show up in the picture if I can get it down loaded properly. I have seen pictures of these flags many times on the history and military channels on TV, but would like any help on further descriptive applications and ID. It is in very good condition, and if he were to sell the flag what would be an approximate price.
I doubt if he is interested in selling it, but you never know.
Thanks for you help.
Kent
USA

[Dimas]

It's Reichskriegs Flag, valued for approx 350-500 USD, and is'nt a rare piece