A recently-discovered Lord of the Rings map annotated by author JRR Tolkien has gone on sale for £60,000.

The unique find was unearthed inside a copy owned by late illustrator Pauline Baynes.

It was found as a loose sheet of paper stuffed inside a later edition of the book by executors of her will.

The map has gone on display for the first time at Blackwell's bookshop in Oxford.

Henry Gott, Blackwell's rare book specialist, described it as "the finest piece of Tolkien ephemera to emerge in the last 20 years at least".

"The piece is an exciting and important discovery, it demonstrates the care exercised by both in their mapping of Tolkien's creative vision," he said.

"Before going on display in the shop this week, this had only ever been in private hands."

The early depiction of Middle Earth is covered in handwritten notes by Tolkien in green ink and by Ms Baynes in black writing.

Tolkien's annotations suggest Oxford is at the same latitude as hero Frodo's home, Hobbiton.

It also appears to show the Italian city of Ravenna was the inspiration behind Minas Tirith, which features the final book of the trilogy.

Mr Gott said Tolkien's notes show how closely he was involved with the publication of his works.

"The degree to which it is properly collaborative was not previously apparent, and couldn't be without a document like this," he added.

"Its importance is mostly to do with the insight it gives into that process."