England coach Tony Smith said his side did not deserve to be on the wrong end of a 46-16 defeat by Australia in the Four Nations final at Elland Road.
Smith's players led 16-14 with less than 30 minutes to go, but a devastating blitz from the Kangaroos left England shell-shocked.
"We were very good for an hour and got into a position where we thought we could win," Smith told BBC Sport.
"The score flattered them but I don't want to take too much away from them."
England were attempting to end Australia's long spell of dominance over the northern hemisphere, and went into the match buoyed by a fine win over New Zealand.
And Jamie Peacock and his players went toe-to-toe with the Aussies for the best part of an hour, with Sam Burgess' second try raising hopes of a famous victory in front of a fervent crowd.
But Australia's peerless half-backs Johnathan Thurston and Darren Lockyer took control against a tiring England to once again crush the home team's hopes in ruthless fashion.
"Unfortunately the game is for 80 minutes," added a rueful Smith, who is tipped to stand down as England coach to concentrate on his role with Warrington.
"There was a real belief that we could win it but they are a class team and they came up with some big plays and took their opportunities."
The scoreline may make depressing reading for England and their supporters, but the performances of some of the younger players over the course of the tournament have hinted at a brighter future.
Kyle Eastmond and Sam Tomkins at half-back and the National Rugby League-bound forward Sam Burgess are all just 20 years old, and all three can look back on the tournament with pride.
"I think it will be good for those boys and good for England in the future," added Smith.
"But they've also shown that they are good at the moment. Our half-backs caused the opposition a whole lot of problems in the first half and the experience they've gained in this tournament will be a big benefit to them and the team.
"They are pretty determined to go further in the next tournament - it's one thing to make it to a final, the next thing is to win one."
Australia coach Tim Sheens admitted his side were glad to be able to leave with the trophy after a shock defeat against New Zealand in last year's World Cup final ended their long dominance of the international scene.
"There is a sense of relief because we always have to carry a sense of expectation," Sheens told BBC Sport.
"I know how hard my players have worked and they deserve every credit they get."
Sheens said Australia's longstanding stranglehold over the British game was partly down to the qualities that State of Origin - which pits the best NRL players against each other in a ferocious three-match series - promotes.
Sheens enjoys his first trophy since taking over as Australia boss
"Our players are used to being able to hang in there when the pressure's on," he said.
"Even though England got in front a couple of times and were really pressing us, no-one panicked.
"You hold together and you wait for your chance and when the opportunities come, you strike. We do get the benefit of that sort of preparation in Australia that Super League players don't."
Australia's magnificent display saw them applauded off the field by the 31,000 mainly England fans at Elland Road who recognised the quality they witnessed from the likes of Greg Inglis, Lockyer and Thurston.
"Our main aim was to silence the crowd and it was hard work," said Sheens.
"I love the game in the UK. It's terrific and there's so much passion."
Despite the 30-point difference between the sides at the end of the match, Sheens said the performances of Eastmond and Tomkins provided England fans with cause for optimism.
"Their two halves have had less than a season between them and they're playing verteran half-backs," he added.
"They've got a long future, whereas Darren is coming towards the end of his career.
"England have got a bright future. I applaud Tony (Smith) in particular for taking some tough decisions in selection. Against New Zealand they were brilliant and put us right on notice."
Watch highlights of the final on BBC Two and the BBC Sport website from 1700 GMT on Sunday
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