A Fabergé silver-gilt and red guilloché enamel photograph frame, workmaster: Victor Aarne, St. Petersburg, 1899-1904

of rectangular form enamelled over geometric engine-turning, surmounted with a finely chased ribbon tie and supported on domed beaded feet, ivory back and silver-gilt strut, marked Fabergé with workmaster's initials, 88 standard, with scratched inventory no. 2461, the frame enclosing a photograph of George, Duke of York, later George V

Purchased by Grand Duchess Olga Alexandrovna (1882-1960) on 27th May 1900
Presumably presented to Princess Thyra of Denmark, Duchess of Cumberland in September 1900

Munich, Kunsthalle der Hypo-Kulturstiftung, Fabergé Hofjuwelier de Zaren, 5 December 1986 - 22 February 1987, cat. no. 428 
Munich, Kunsthalle der Hypo-Kulturstiftung, Fabergé-Cartier Rivalen am Zarenhof, 28 November 2003 - 12 April 2004, cat. no. 249

Géza von Habsburg, Fabergé Hofjuwelier de Zaren, Munich, 1986, p. 227
Géza von Habsburg, Fabergé-Cartier Rivalen am Zarenhof, Munich, 2003, p. 227

The following condition report has been supplied by: Plowden & Smith Limited, 190 St. Ann's Hill, London SW18 2RT tel + 44 (0)20 8874 4005, fax + 44 (0)20 8874 7248, info@plowden-smith.co.uk www.plowden-smith.co.uk The ivory backing has eight screws securing it to the gilt frame and the ivory is ill-fitting. The screw heads are slightly worn with use. The ivory overlaps the gilt frame edges in places. This suggests it has either been replaced at some time, or it could have been secured the wrong way up after being opened. The red enamel is very lightly discoloured at the edges.
"In response to your inquiry, we are pleased to provide you with a general report of the condition of the property described above. Since we are not professional conservators or restorers, we urge you to consult with a restorer or conservator of your choice who will be better able to provide a detailed, professional report. Prospective buyers should inspect each lot to satisfy themselves as to condition and must understand that any statement made by Sotheby's is merely a subjective, qualified opinion. Prospective buyers should also refer to any Important Notices regarding this sale, which are printed in the Sale Catalogue.
NOTWITHSTANDING THIS REPORT OR ANY DISCUSSIONS CONCERNING A LOT, ALL LOTS ARE OFFERED AND SOLD AS IS" IN ACCORDANCE WITH THE CONDITIONS OF BUSINESS PRINTED IN THE SALE CATALOGUE."