World Record Rug Caps Freeman’s $2 Million End of Year Sales Caucasian Rug from Montgomery Scott Estate Sells for $341,625 .

Philadelphia, PA, December 19, 2006 – Freeman’s closed a banner year with sales of Fine Silver & Decorative Arts, Fine Oriental Rugs & Carpets and Asian Arts on December 13-15, with highlights across all disciplines but none quite so extraordinary as the $341,625 paid for a Chelaberd Kazak from the estate of Robert Montgomery Scott. The 6 foot 1 inch by 5 foot 4 inch single medallion rug was the subject of intense pre-sale scrutiny, with potential buyers flying in from across the globe, driving a result that represented a new world record for a Caucasian carpet of any kind at auction.

The three days of sales resulted in a combined hammer plus premium of just over $2 million, carrying Freeman’s to its best year ever with a total of $23.1 million. Instrumental to Freeman’s recent growth has been the performance of the English & Continental department, which was responsible for the fine silver and decorative arts sold on the 13th. Top lot on the day was a George III silver epergne by Thomas Pitts of London, circa 1768, which exceeded its high estimate at $32,265. A 19th century Italian micromosaic table top with a central circular plaque depicting the doves of Pliny sold for $29,875, and a Victorian sterling silver gilt four bottle decanter stand (Robert Garrard, London, 1852) soared past its $1,500-2,500 estimate to reach $17,925. Among the many other highlights was the important Minton pate-sur-pate Exhibition vase by Louis Solon, which had generated considerable pre-sale buzz once the vase’s mate was discovered in the collection of the Philadelphia Museum of Art. The vase sold to a buyer in England for more than double its high estimate at $27,485.

Day two of the sales focused on rugs and carpets and contained many high points in addition to the record-setting Chelaberd. A late 19th century Haji Jalili Tabriz from Northwest Persia measuring 17 feet 6 inches by 12 feet sold for $46,600 against a $20,000-30,000 estimate, and another Northwest Persian Tabriz, circa 1900, nearly quadrupled its estimate at $38,800.

More than 400 lots of Asian Arts were presented on the final day, led by an impressive matched pair of Japanese Palace cloisonné vases. Standing five feet tall, the vases from a local estate sold to a buyer in Florida for $65,725 (estimate $20,000-30,000). Also notable were two lots of 18th century late Qianlong Period Chinese export ‘Tobacco Leaf’ pattern items. The first lot, a rare pair of Pomegranate soup tureens with covers and stands, sold for $56,750, while the second lot of one large oval soup tureen with cover and stand sold for $27,500.

A full listing of all sales results can be found here.

Inquiries regarding upcoming March sale of Fine English & Continental Furniture and Decorative Arts may be directed to Lee Young at 215.563.9275 ext. 3040 or lyoung@freemansauction.com or to Douglas Girton (ext. 3044, dgirton@freemansauction.com.) Inquiries regarding the March sale of Fine Oriental Rugs and Carpets may be directed to David Weiss (ext. 3014, dweiss@freemansauction.com).