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Tiny Faberge chair sells for $2.28m

NEW YORK -- A 2 1/4-inch Faberge chair sold for $2.28 million at a Sotheby's auction Tuesday, easily surpassing the $1 million presale estimate.

The chair, made of gold and enamel by the Russian jeweler Carl Faberge, was included in a two-day Russian art sale that totaled $50.9 million, slightly higher than the $48.7 million presale estimate.

Sotheby's auction house said Faberge miniature furniture, such as the empire-style chair, is among the rarest of the artist's creations and is not often auctioned.
Read entire article at AP