Unique Fabergé Figurine Sold for $5.2 Million In Upstate New York

Who needs a retirement plan when you can find a rare Fabergé figurine hiding in your attic in excellent condition? Retired couple George and Betty Davis in upstate New York town, Rhinebeck, found just that in their attic. Figurine fetched $5.2 million at Stair Galleries auction two Saturday’s ago.

Farbergé was commissioned by Tsar Nicholas II to produce the figurine as a gift to his wife Empress Alexandra Feodorovna. The hardstone figurine depicts the portrait of Nikolai Nikolaievich Pustynnikov, a Cossak personal bodyguard to the Empress. Nicholas also commissioned a second figurine as a gift to Dowager Empress Maria Feodorovna in 1912.

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This is one of only 50 known Farbergé figurines in existence. Prior to this auction, the last of such hardstone figurines sold for $1.8 million in 2005, at Sotheby’s, New York. According to auctioneer Colin Stair, the figurine is adorned with little sapphires in the eyes, gold trim, gold braid and enameled double-headed imperial eagles.

After the fall of Romanovs, industrialist Armand Hammer originally bought it from the Soviets. Then from Hammer Galleries in New York City, George Davis bought it for $2,250 in 1934. Since then it remained in the Davis family and out of public sight, until auction at Stair Galleries. Originally appraised to be $800,000 in value, sold for $5.2 million after a 15-minute auction. Total purchase price including commission will be $6 million.

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The new owner is London-based jeweler, Wartski. ‘The purchase of the figure is a continuation of our long-running tradition of acquiring Imperial Russian Works of Art,’ Wartski said in a statement to upstate New York newspaper the Register Star.

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Source: Daily Mail UK