What happens
Richmond and Richard clash in single combat. Richard is killed, ending the battle. Derby retrieves the crown from Richard's corpse and places it on Richmond's head. Richmond celebrates the victory, pardons the fleeing soldiers, and announces his intention to unite the houses of York and Lancaster through his marriage to Elizabeth, bringing peace to England after decades of bloody civil war.
Why it matters
This scene is the climactic payoff to everything Richard has orchestrated and destroyed. The physical combat between Richmond and Richard transforms the abstract struggle for the throne into a moment of stark personal violence. Richard's death is presented not as tragedy but as necessary justice—the 'bloody dog' has been put down. The swiftness of the ending (Richard is simply slain, with no extended death speech or final words) denies him the theatrical exit he craves throughout the play. He has lost his audience, his stage, his power to perform. Derby's act of crowning Richmond on the battlefield, using the crown pulled from Richard's corpse, is grimly symbolic: Richard's illegitimate claim dies with him, and legitimate succession is restored through combat and divine favor.
Richmond's closing speech shifts the entire tone from vendetta to restoration. He moves immediately from celebrating victory to pardoning soldiers, uniting the roses, and invoking God's blessing on future peace. This is statecraft, not revenge—the opposite of Richard's self-interested scheming. By marrying Elizabeth (Edward's daughter), Richmond bridges the warring houses and promises an end to the cycle of murder that has defined the play. The language modulates from the fury of battle to the hope of healing: 'smooth-faced peace,' 'smiling plenty,' 'prosperous days.' Whether this peace will actually hold is left ambiguous, but the promise itself represents a fundamental rejection of Richard's worldview—that power comes through performance, manipulation, and murder. Richmond suggests it comes through legitimacy, unity, and divine approval.