HADA

10/29/2013

An amazing hammer price of $5.2 million!

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Congratulations to HADA member STAIR GALLERIES for setting the world record for a Fabergé Hardstone Figure, selling for an impressive $5,980,000 at their recent auction. Faberge-figure Lot 125: AN IMPORTANT FABERGÉ IMPERIAL RUSSIAN CARVED HARDSTONE PORTRAIT FIGURE OF KAMER-KAZAK N.N. PUSTYNNIKOV, THE PERSONAL COSSACK BODYGUARD OF EMPRESS ALEXANDRA FEODOROVNA, ST. PETERSBURG, DATED 1912. (photo by Walter Hill)

Found in a Rhinebeck, New York attic, this treasure soars to record price in 15 minutes during intense bidding to a packed sales room in Hudson, New York, on Saturday, October 26th. In addition to the lively bidding in the room there was an active group of phone bidders. The rare Fabergé Imperial figure ultimately sold to a phone bidder for $5.2 million, hammer price, against a pre-sale auction estimate of $500,000 to $800,000. The last hardstone figure sold for $1.8 million in 2005, at Sotheby’s, New York.

Nicholas II commissioned Fabergé to produce this portrait figure of N.N.Pustynnikov, the personal Cossack bodyguard (Kamer-Kazak, or Chamber-Cossack) to the Empress Alexandra Feodorovna , and also a second figure, of the Kamer-Kazak to the Dowager Empress Maria Feodorovna in 1912. It was found in an attic by the executor of a Rhinebeck estate. It was purchased at Hammer Galleries, in Manhattan, by Mr. George Davis in December 1934, and has been in the same family ever since. The figure was known to collectors, but the whereabouts was unknown until 2 months ago.

The total number of Fabergé hardstone carvings of human figures produced by Fabergé is probably no more than fifty. They are therefore extremely rare, on a level of rarity with the Imperial Easter Eggs, and the portrait figures, depictions of known historical persons rather than simply "types," are rarer still. Very few portrait figures were produced by Fabergé.

The piece was purchased by Wartski, the famed London based jeweler, who are the jewelers to the Queen of England. They specialize in Russian pieces, most notable being Fabergé. It’s not clear if they were purchasing it for stock or a private client. According to the London firm, “the purchase of the figure is a continuation of our long running tradition of acquiring Imperial Russian Works of Art.” Wartski were Armand Hammer's prime rivals in the 1920's and 1930's in buying the confiscated Imperial treasures from the Soviet government. “We have over the years owned twenty of these rare hardstone figures, as well as a dozen of the legendary Imperial Fabergé Easter Eggs.”

Another auction highlight:
This George Inness painting (Lot 419), Hammer $131,000! Inness ALEXANDRA BAY ON THE ST. LAWRENCE RIVER by George Inness

Oil on board, signed, dated on label, inscribed on reserve and titled and dated 1878 lower right. 16 x 24 in., 22 x 30 in. (frame). Note: Michael Quick. George Inness: A Catalogue Raisonné. New Brunswick, New Jersey, 2007, Vol. II, no. 709, pg. 54. Provenance: Property formerly in the Collection of The Art Institute of Chicago. Estimate $ 7,000-9,000. (photo by Michael Fredericks)

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