Category Archives: Objects of Virtue

Protecting the Cash in the Attic

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Frequently, for those whose homes are filled with antiques and art – particularly when they have been treasured family possessions for generations – potential replacement values for insurance can be overlooked.

Whilst jewellery and silver are often undervalued for insurance – recent costs having increased – there are certain types of objects which can be discounted completely.

With that in mind, Doerr Dallas Valuations would like to share a few examples where interesting history and excellent quality have led to growing value and this fact may lead to under insurance.

Georgian Costume Jewellery

The 18th and early 19th centuries were a time of great innovation and advances in technology. One of the fields in which this was obvious was jewellery design. With sumptuary laws being ignored, and with a growing middleclass keeping up with the latest trends, the desire to own the most fashionable jewellery became widespread. This demand was met by advances in artificial stone production – what would now be described as paste jewellery. Paste stones could be manufactured in a range of dazzling colours – mimicking – or even more vivid than their precious stone equivalents. It made jewellery more affordable to the fashionable of the day.

Costume jewellery, in terms of its financial value, has often been disregarded in comparison with fine jewellery equivalents. However, in recent years a strong market for costume jewellery as a whole is evident. Recently, the Georgian paste jewellery market has strengthened resulting in rocketing prices.

At auction, estimates have been smashed – in February 2023 a suite of blue paste jewellery (parure) comprised of a necklace (which would have been attached by a ribbon), a bracelet and a pair of earrings was offered in auction (Woolley & Wallis lot 148) with an estimate of £200 – £300. The eventual total selling price was over £25,000!

Domestic Metalware

Objects made from brass, copper and pewter may appear ordinary but again their values can be surprising. Lighting, fire grates, door furniture, mortars are all things to consider when arranging an insurance valuation.

Early pieces are highly prized by collectors and their replacement value can be in the thousands. In a recent auction, (The Chapman Pewter Collection – Bishop Miller; April 2023) a rare pewter candlestick manufactured during the reign of Elizabeth I/ James I achieved a selling price of over £30,000 (Lot 43). If you are uncertain as to the origin of your metalware, it is always best to consult a specialist valuer.

Furniture

In recent years the antique furniture market has been much maligned, with reports of the decrease in values being widespread. While the market may not be that of the 1980s, quality antique furniture continues to be esteemed and seeking replacements competitive.

Modest oak and antique country furniture should be closely looked at when considering insurance. Windsor chairs, mule chests, dressers and farmhouse tables are respected amongst collectors.

Treen

In a similar vein to country furniture and domestic metalware – treen – domestic objects made from wood may have been disregarded. In this fierce collecting field, prices can be surprising and some objects extremely rare.

 

 

Toys, Games and Juvenilia

When considering a valuation, looking at the playroom or nursery may not be the first area for attention but with the market for antique toys and games proving ever popular, replacing these treasured possessions can be costly.

Important and interesting 18th and 19th century dolls houses are collected not only by those interested in toys, but for those with a passion for architectural history. These microcosms of the family home often include complete furniture and decoration – showing how families lived and operated their homes. To replace good examples, the anticipated cost will be upwards of £10,000.

Rocking horses have a history which dates back thousands of years – the toy in the current form has existed since the 19th century. Rocking horses, both antique and modern, are a focal point for a playroom and as such should often be insured. When looking to acquire a good 19th or early 20th century example, one should budget over £2,000.

Playing cards, board games and games compendiums may be valuable depending upon age, manufacturer and scarcity. Toy specialists can offer guidance on teddies, dolls and antique toys and games.

Exploring the hidden treasures in your attic could be a delightful journey down memory lane. These items which hold dear memories close to your heart might even surprise you with their financial value.

Unearthing Literary Treasures by Richard Fattorini

Unearthing Literary Treasures

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The Fascination of Collecting Beatrix Potter First Editions

In the realm of literary works, few names conjure up the same sense of whimsy and charm as Beatrix Potter. The beloved author and illustrator has captured the hearts of readers young and old with her enchanting tales of mischievous rabbits, dapper mice, and adventurous squirrels. As a result, the quest to collect first editions of her works has become a passion for collectors worldwide, offering not only a glimpse into the history of children’s literature but also a chance to connect with the magic of Potter’s timeless stories and illustrations.

The Tale of Peter Rabbit

In September 1893 Noel Moore, the five year old son of Beatrix Potter’s friend and former governess was unwell. To cheer him up Potter wrote the now famous Peter Rabbit picture letter. “I don’t know what to write to you,” she began, “so I shall tell you a story about four little rabbits”. Noel was delighted with the letter and a few years later Beatrix decided to develop the story and turn it into a little book. Thus The Tale of Peter Rabbit was born, but it took a while for the story to make it into print.

Potter approached many publishers with her manuscript but to no avail, so she resolved to publish the story at her own expense and sent the manuscript to a London printer Strangeways & Sons. Thus is was that on the 16 December 1901 an edition of 250 privately printed copies of her book were ready to sell or distribute to friends. To keep printing costs to a minimum the book had a card cover and only one colour illustration with the other illustrations being in black and white. The size of the book was also important: Potter believed that it should be of a size that a child could hold easily in their hands and the paper should be durable, so the pages were easy to turn.

The Tale of Peter Rabbit was received with great enthusiasm by children and adults, so Potter ordered a second printing of 200 copies. The format remained the same as the first printing, but there were some minor changes to the text and the quality of the binding was improved. The colour of the boards changed from grey to olive green and the spine became rounded, rather than flat. Booksellers and collectors often describe these two privately printed editions as either ‘flat backed’ or ‘round backed’.

The first Trade Printing

In December 1901 Beatrix Potter received a letter from the publisher Frederick Warne which read: ‘Dear Miss Potter, I must apologise for not having written to you earlier with reference to the “Bunny Book”’. Warne offered to print the story in an edition of 5,000 copies, on the condition that Potter supplied all the drawings in colour. They suggested a royalty of 1d (one pence) per book, rising to 3d (three pence) per book should there be any subsequent editions. Warne cautioned that: “we cannot tell whether the work is likely to run to a second edition or not, and therefore we fear it might not provide a reasonable remuneration for you.”

Following some negotiations a contract was agreed and Potter set to work producing the illustrations in colour. So it was that in October 1902 the first published edition of The Tale of Peter Rabbit was offered for sale in book shops in Britain. Potter wanted the book to be affordable so there were different editions available: the book was available to buy in either brown or grey paper boards, retailing at 1/- (one shilling) or in pale green cloth, retailing at 1/6 (one shilling and sixpence). Warne suggested that brighter colours might sell better, but Potter was adamant that the colours of the boards needed to be in keeping with the natural colours of her animal world.

Warne’s publication of The Tale of Peter Rabbit, launched Potter’s career as a children’s author and has remained in print ever since. Subsequent titles, including The Tale of Squirrel Nutkin (1903) and The Tale of Benjamin Bunny, (1904) followed in quick succession, each adding to Potter’s growing legacy.

The Appeal of Beatrix Potter First Editions

What makes collecting Beatrix Potter first editions so appealing? At its core, it’s a journey into the past, a way to trace the evolution of Potter’s writing and illustration style, and to appreciate the craftsmanship of these hand-sized publications. Each first edition holds a unique story, from the initial print run to the hands that have cherished it over the decades. For many collectors, owning a piece of literary history is a way to pay tribute to an author whose work continues to captivate generations.

Navigating the World of Beatrix Potter First Editions

For those embarking on the quest to collect Beatrix Potter first editions, understanding the nuances of the market is essential. Identifying true first editions can be a challenge, as publishers often made subtle changes to subsequent printings. Key indicators of a first edition include the presence of the phrase ‘All rights reserved’ on the title page, as well as the absence of later printings listed on the verso.

Additionally, examining the colour and condition of the dust jacket, if present, can provide further clues to a book’s authenticity. Potter’s books are notoriously difficult to date as the publisher Warne used a dating process which is not easily decipherable for novice collectors. In most instances Beatrix Potter first editions state the publisher as ‘F. Warne & Co.’ before Warne became incorporated in 1919 and the imprint changes to ‘F. Warne & Co. Ltd’.

The Rarity and Value of Beatrix Potter First Editions

While some of Potter’s works were printed in large quantities, others had more limited runs, adding to their rarity and value. For example, The Tale of Peter Rabbit had an initial print run of just 250 copies, making first editions of this iconic book highly sought after. Similarly, titles such as The Tale of Mr. Jeremy Fisher (1906) and The Tale of Jemima Puddle -Duck (1908) are prized for their scarcity and charm.

In recent years, the market for Beatrix Potter first editions has experienced steady growth, with rare and pristine copies commanding high prices at auction. Collectors are willing to pay a premium for books in excellent condition, with original dust jackets or glassine wrappers, and minimal signs of wear. However, even well-loved copies with some wear and tear can hold significant value, particularly if they possess unique provenance or inscription by the author.

The value of a first edition can vary significantly, with pristine copies fetching five-figure sums, while worn copies without a dust jacket may be worth in the hundreds of pounds. While some early editions may hold value, the sheer number of subsequent printings means most are worth only a few pounds.

Preserving a Literary Legacy

Beyond the thrill of acquisition, collecting Beatrix Potter first editions is also a means of preserving her literary legacy for future generations. By safeguarding these rare and cherished books, collectors play a vital role in ensuring that Potter’s timeless tales continue to enchant readers for years to come. Whether displayed on a bookshelf or carefully tucked away in a protective sleeve, each first edition serves as a tangible reminder of the enduring magic of Beatrix Potter’s imagination.

In the end, collecting Beatrix Potter first editions is about more than just acquiring rare books – it’s a journey of discovery, connection, and appreciation for one of the most beloved authors in children’s literature. With each new addition to their collection, enthusiasts pay tribute to Potter’s legacy and celebrate the enduring power of storytelling to ignite the imagination and inspire wonder in readers of all ages.

All that Glisters is not Gold

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Since ancient times silver and gold have been highly regarded for their natural beauty, as well as their intrinsic value but why is there such a discrepancy in their values?

Status

Gold has always been seen as a display of wealth, as far back as ancient Greece and Rome the homes of the nobility held impressive collections and women were adorned with exquisite jewellery. A fine example is the pendant below, discovered in Crete in 1930.

Rarity

For every eight ounces of silver that is mined only one ounce of gold is extracted.

The mining of gold is hugely challenging, as well as expensive. Expertise in many areas is needed, including geology and engineering. In fact, less than 0.1% of prospected sites will lead to success with often a wait of up to twenty years before a discovered mine will produce material for bullion.

Investment

The spike in the price of gold during the Coronavirus pandemic of 2020 wouldn’t have come as a surprise to many, in times of economic crisis and catastrophic world events the investment in bullion can be viewed as a ‘safe haven’.

This small 18ct gold case sold at auction for £5,437 in February 2020, working out at £787 per ounce.

As the year progressed and the pandemic hit, gold prices peaked at £1,555 per ounce in August. Had this sold that summer it may have achieved over £10,000.

Also sold in early 2020 was this fantastic Victorian silver table bell achieving £5,062. At only 16cm long this shows how unusual items of vertu are sought after by collectors. Highly celebrated makers like Paul de Lamerie will always be popular but fashions have changed over the past twenty years. Mass produced items like tea services and salvers sell at scrap price, whereas areas such as mid-century and Danish silver continue to rise.

Gold will continue to be the favourite for investment due to the potential for high gain. Investment in silver can be prudent if only you can predict the fashions of the future!

At the time of writing this article the gold price was approximately £1,600 per ounce, silver £18 per ounce.

RM Sotheby’s Nigel Mansell’s legacy collection auction

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A Review by Stephanie Connell

In Britain we have a long association with motor racing, dating back over 120 years. Since those early days, memorabilia connected with motorsport has been a popular area for collectors. Motor racing collectables combine the glamour of the automobile with the excitement of high-octane sport. Today, Formula One memorabilia is perhaps the most desirable field in automobilia collecting.

When RM Sotheby’s announced they would be selling the archive of legendary racing driver Nigel Mansell, collectors were prepared for prices to ‘hurtle’ away.

Nigel Mansell began his career as a Formula One driver in 1980 and continued to race in F1 until 1995. During this period, Mansell won over 30 Grand Prix races and was the 1992 Formula One World Champion. These achievements made him the most successful British racing driver (a record only broken by Sir Lewis Hamilton).

Mansell’s skill as a racing driver went beyond Formula One. Immediately after his 1992 Formula One World Title win, he moved to CART IndyCar for their 1993 the season. Remarkably he won his debut IndyCar World Series. Therefore in 1993 he held both the Formula One World Title and the IndyCar World Series – Mansell is the only driver to have held both titles at the same time.

Nigel Mansell’s extensive collection had previously been on display as part of his museum in Jersey, which closed in 2019.

The collection included over 320 pieces capturing Mansell’s entire career. The sale was held during the early part of October as a week-long online auction, with all lots being offered without reserve.

Prior to the auction RM Sotheby’s had focused publicity on the trophies, racing suits and racing helmets. These pieces, which are the closest associated with racing are typically the most desirable.

Demand was high throughout the sale. The highest prices of the sale were indeed achieved for racing helmets. Lot 142 the 1985 Canon Williams-Honda European Grand Prix racing helmet being the most expensive lot. The European Grand Prix was held at the British racing circuit Brands Hatch in October 1985. The action-packed race saw Nigel Mansell winning his first Grand Prix, beating Ayrton Senna in second place by a margin of over 21 seconds. The important racing helmet which is clearly visible in images for the race sold for £68,400.

The second highest price was achieved by Lot 200 the 1992 Canon Williams-Renault Arai Formula One helmet. This example was worn by Nigel Mansell during his record-breaking World Title winning season for Williams, it reached £61,200. 1992

Like the helmet, pieces connected to the 1992 Formula One title were expectedly the most valuable.

The sale included several significant trophies earned during this F1 World Title winning season for Williams.

The 1992 San Marino Grand Prix 1st place trophy was the most expensive of the collection. The trophy marked Mansell’s fifth win of that competition, making him the first driver to win the first five races of a season. The Automobile Club Bologna trophy was engraved with the names of other former prominent winners including Jim Clark, Niki Lauder, Alain Prost, and Ayrton Senna. The impressive and large gilt trophy sold for £28,800.

One of the most coveted of the trophies was in fact for a second-place finish. Lot 212 was the 1992 Monaco Grand Prix 2nd place trophy. The race is known as a classic of the sport, with Mansell starting the race from pole position, battling for first place against the eventual race winner Ayrton Senna. This lot eventually sold for £24,000. Nigel Mansell’s pole position trophy from the same event, was also on offer and achieved £16,800.

One of Nigel Mansell’s most remarkable achievements of the 1992 season was the British Grand Prix. Held at Silverstone in July, it was here that he became the most successful British racing driver. Mansell started the race from pole position, going on to win every lap, set the fastest lap and break the track record!

Lot 386 was the trophy awarded for this fantastic first-place finish – bidding was strong, with the virtual gavel falling at £26,400. Lot 223 was a piece commemorating the race – an unusual time-chart captioned “The Ultimate Lap”. To quote Mansell himself “On the last but one lap we smashed the track record”. This piece had been signed and dedicate to Mansell by Williams Racing’s Chief Technical Officer, Paddy Lowe. The final price here was £8,400. While lot 208 the baseball cap worn by Nigel Mansell on the winner’s podium sold for £6,800.

Similarly, the highest price racing suits of the sale were those worn during Nigel Mansell’s 1992 winning season. Lot 199 and 222 were two such examples. Lot 199 was the more complete of the outfits including suit, gloves, and boots. This lot achieved £21,600 whilst lot 222 which included a suit alone sold for £19,200.

Ferrari memorabilia is a strong collecting field within its own right. Therefore, those pieces relating to Mansell’s 1989-1990 seasons driving for Ferrari were of interest. Notably, Mansell was the last racing driver to be selected by Enzo Ferrari himself.

Racing helmets were again the top lots here. Lots 174 and 182 were Scuderia Ferrari helmets worn during the 1989 racing season. They fetched £43,200 and £46,800 respectively. Lot 350 was a trophy awarded to Nigel Mansell by Ferrari. The sculptural trophy was in the form of their iconic prancing horse logo. This award fetched £28,800. A vintage red leather Ferrari briefcase was a stylish addition (lot 103) reaching £3,720. Mansell had a difficult 1990 season with the team and chose to retire afterwards. It was after his return with Williams in 1991 that he achieved his greatest success.

During 1993 to 1994 he moved away from Formula One. Mansell signed with Newman/ Haas to drive in the CART IndyCar World series. As mentioned previously, he was immediately very successful, winning his first ever IndyCar race! He went on to win the World Series, winning five races out of sixteen. Helmets, suits, and trophies were again the most valuable lots, with four of the helmets achieving over £25,000 each. One of the more curious lots was lot 250 a podium wreath decorated with beer cans given as part of the 1993 IndyCar Miller Genuine Draft 200 race. This lot sold for £3,000.

Now to some of the more unusual lots. Lot 106 was a personalised number plate ‘5 NM’. The plate made reference to Nigel Mansell’s initials and his association with red number 5 during his career. Red Number 5 was the name given to his winning Williams Formula 1 racing car. The number plate offered with a presale estimate of £30,000 – 60,000 and sold for £50,400.

On a similar theme was lot 205 a petrol pump designed with Nigel Mansell livery and the red number 5, commemorating his 1992 World Title win. This decorative piece of automabilia sold for £15,600.

Champagne is a drink closely associated with motorsport and several bottles were available. The highest price for a bottle was lot 198, an unopened magnum of Moet & Chandon given to the 1991 British Grand Prix ‘Driver of the Day’. The label was signed in silver ink by several celebrities apparently including Sean Connery. This impressive bottle fetched £3,240.

Also of note were two letters from Prime Minister John Major offered together as lot 202. The typed letters congratulate Nigel Mansell on his wins in Formula One and IndyCar. They were each signed and inscribed ‘Dear Nigel’ and on Downing Street headed paper. The pair eventually achieved £6,900.

The successful auction achieved total selling price of over £2 million.

Formula One collectors will now be looking ahead to the RM Sotheby’s auction scheduled for early November. This sale will include the collection of the late racing driver and two-time World Champion Graham Hill.

L for Lapis Lazuli

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Lapis lazuli is one of the oldest stones recorded, a favourite gem for amulets and scarabs in ancient Egypt. Lapis lazuli artefacts have been found at excavations of the Predynastic Egyptian site Naqada (3300–3100 BC) and was used for Tutankhamun’s gold mask.

It has been mined as early as 7570 BC in Afghanistan and is mentioned in the Old Testament, referred to as “sapphire”. Exodus 24:10: “And they saw the God of Israel, and there was under his feet as it were a paved work of a sapphire stone…” Scholars agree that the Latin reference to the blue gem “lapidis sapphirine” is in fact lapis lazuli, not sapphire.

The name comes from the Latin lapis, “stone,” and the Persian lazhuward, “blue.” The mineral is formed of multiple components: lazurite, sodalite, calcite, and pyrite – nicknamed “fool’s gold” and appear as gold flecks.

Lapis lazuli is known for its intense blue, with the most prized colours ranging from greenish blue to violetish blue and highly saturated medium to dark tone. If other minerals are present, it will alter its appearance and may have an impact on the desirability. Specks of “gold” pyrite are highly acceptable, however if there is an excess of white calcite the gem will be less valuable. The lower grade lapis lazuli is green and dull in appearance. The more lazurite, the deeper the blue, often referred to as royal blue. The more pyrite, the greener the gem.

Afghanistan, and more specifically the northeastern province of Badakhshan, has always, and still does, produce the most prized lapis lazuli. In fact, the trade name for the highest quality lapis lazuli is nicknamed Persian or Afghan and contains very little or no calcite or pyrite. The condition to access the lapis lazuli are ruthless.

Unfortunately recent events have pushed the mineral to now be classified as a conflict mineral as the “6,500 year old lapis mines are driving corruption, conflict and extremism in the country. Global Witness has found that the Taliban and other armed groups are earning up to 20 million dollars per year from Afghanistan’s lapis mines, the world’s main source of the brilliant blue lapis lazuli stone, which is used in jewellery around the world.”

Other trade names include Russian or Siberian. These variations contain pyrite and might contain some calcite. Chilean is another trade name with obvious calcite traces and often green. Though the names refer to geographic locations, the stones may not be mined there.

Lapis lazuli’s use has always been very versatile. It can be cut into beads, inlaid in rings, fashioned into bowls and carved into ornamental objects.

Due to its intense blue colour, the gem became a favourite amongst Renaissance painters. Lapis lazuli was crushed and the blue pigment was named ultramarine, from the Latin “ultramarinus”, meaning beyond the sea.

The 17th century Dutch painter Johannes Vermeer used this very expensive pigment in abundance in his paintings.

Several others made use of ultramarine in their iconic artworks.

The use of lapis lazuli was synonymous with great wealth. It is not surprising that in the Medici Chapel in Florence the gem is heavily represented, such as on the Altar of the Chapel of Princes.

However due to its classification as a conflict gem, will demand, availability and use in jewellery continue to thrive?

My Favourite…

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cunha braga cup banner

The Cunha Braga Cup. By Jonathan Horwich, Modern Art Specialist

Knowing that I am a picture specialist, it may come as a surprise that I have chosen this 14 cm long, ceremonial drinking vessel. It is a rock crystal masterpiece of renaissance craftmanship, carving and decoration and is my favourite piece of all time. I am not sure if I know myself why I love it so much – maybe it is because it is so tactile, almost warm to the touch, and just oozes history. It fits neatly in the palm of your hand and is beautifully made – and nearly 400 years before Carl Faberge turns up and makes anything nearly as good.

Image of The Cunha Braga Cup

The Cunha Braga Cup

I first saw the cup in October 2006 on its preview in New York. I was previewing pictures alongside my colleague from the works of art team who was accompanying the cup. My colleague gave me some of the background to its discovery. Amazingly, he spotted it among a bunch of Polaroid shots sent over from Portugal by a client just in case there was anything of interest. Even more remarkable is that the photographs were general room shots of a room full of display cabinets all rammed with various pieces and the cup was spotted tucked in a cabinet full of undistinguished objects. He was on a plane to Lisbon the next day to see it and the rest is history. I remember he told me that at first it was thought to be a copy or later version of a similar cup in a Munich museum. However, once the two were put together side by side in the museum the curators were delighted to discover that our one was made by the same craftsman as theirs – making these two the definitive pieces and ours the only other example in the world available to buy.

It had belonged to Alfredo Baptista Cunha Braga (1869-1932) from Lisbon. He acquired it circa 1920 and then by direct descent to the owners in the auction. The piece was offered in London on 30/11/2006, the pre-sale estimate was £200,000-300,000 but it sold for an astounding £1,968,000

Emperor Nicholas II’s Fabergé Gift to an English Nobleman

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The Fabergé name catapults us back to the late 19th century when the Romanovs ruled over the vast Russian Empire. The firm’s fortunes were tied to the lavish spending of an international network of royalty and socialites, until the first world war took its toll on such conspicuous consumption. When the House of Fabergé folded in 1918 alongside the collapse of the Russian monarchy, the Soviet authorities lost no time in nationalising personal property.

Jewelled Kovsh, 1886, presented to Victor Albert Spencer, 3rd Baron Churchill. Image courtesy of Bonhams

Jewelled Kovsh, 1886, presented to Victor Albert Spencer, 3rd Baron Churchill. Image courtesy of Bonhams

Although Fabergé, as a brand name, was revived to represent a string of unrelated products from fragrance and toiletries to household bleach, its association with Imperial splendour was never fully extinguished. Beginning in the 1920’s Western dealers acquired art that was considered ideologically surplus to Soviet requirements. A lucrative market for Fabergé was established, particularly in America, and inspired the trade of spurious ‘Fauxbergé’.
Russia has since re-established its purchasing power and, with it, an unflagging appetite to repatriate its lost patrimony. The learning curve necessary to negotiate heavily restored and imitation pieces is steep. Longstanding collectors who have experienced sharp fluctuations of dizzying prices and market corrections are, as a result, increasingly discerning.

Victor Albert Spencer, 3rd Baron Churchill

Victor Albert Spencer, 3rd Baron Churchill

A recent Russian sale at Bonhams featured a jewelled kovsh (pictured) presented by Emperor Nicholas II to an acquaintance, Victor Albert Spencer, 3rd Baron Churchill, at Balmoral in 1896. As the son of Queen Victoria’s longest service Lady of the Bedchamber, Churchill grew up in the royal household and moved in court circles. The presentation gift, shaped as an abbreviated ladle carved of agate stone, was enhanced by a jewelled double-headed eagle on its handle. This underscored the Imperial provenance and the bowl carved of native hardstone acted as a reminder of Russia’s vast mineral wealth.

One of Faberge’s legendary Easter designs, The Rose Trellis Egg (1907) Courtesy of The Walters Art Museum

One of Faberge’s legendary Easter designs, The Rose Trellis Egg (1907) Courtesy of The Walters Art Museum

Hallmarks confirmed the gift was the work of Michael Perchin, head workmaster for Fabergé in St. Petersburg in 1896. Further inventory numbers scratched on the handle matched up with the firm’s surviving ledgers, corroborating the kovsh’s purchase by the Imperial Cabinet: the office in charge of the treasury, property and institutions belonging to the Russian Imperial family. The Cabinet’s list documenting gifts offered by their Imperial Highnesses abroad in 1896 cited Churchill as the recipient.

Emperor Nicholas II, the last ruling Romanov, and family

Emperor Nicholas II, the last ruling Romanov, and family

The original sale invoice from Fabergé of 335 roubles represented a considerable amount of money. A 1902 Baedecker travel guide suggested budgeting 6-10 roubles for a night’s stay at the legendary Europa Hotel in St. Petersburg, so the presentation was a generous gift to an English acquaintance held in high esteem.
Clarifying the kovsh’s documented provenance offered the buying public the fullest understanding of its historical context and attracted a great deal of interest at Bonhams in November 2018. Churchill’s descendants were gratified by the results of their consignment to the Russian auction when the kovsh sold for £236,750.
As is often the case, Fabergé objects in private hands are repeatedly undervalued as the market has recently become more buoyant, scholarship has advanced considerably and access to Russian archives has improved. It is therefore imperative that any insurance valuation be refreshed every three years and required where none has been undertaken within five.
Call us today to enquire about an appointment on 01883 722736 or email
[email protected] or visit our website www.doerrvaluations.co.uk