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Press Release - May 24, 2004

HERITAGE GALLERIES & AUCTIONEERS' INAUGURAL SALE OF IMPORTANT SILVER, ART GLASS, AND FINE ART A RESOUNDING SUCCESS

A WORLD-RECORD AT AUCTION FOR AMERICAN PAINTER HENRY MARTIN GASSER

Dallas, TX: Heritage Galleries & Auctioneers' first sale of Important Silver, Art Glass and Fine Art exceeded expectations, with prices realized of $1,222,065.55. Over 900 bidders placed bids on the 1819 lots offered, and 163 of those bidders successfully purchased 1778 of those lots, for a total sell-through percentage of 97.69. Bids were accepted by mail, fax, email, telephone and proxy via Heritage's web site www.HeritageGalleries.com, as well as live bidding through iCollector, Heritage and eBay.

"Heritage's sale was consistently strong over the course of both days, with competitive prices paid throughout a broad range of collecting categories," said Bryan Abbott, Director of Acquisitions at Heritage.

A watercolor by American artist Henry Martin Gasser titled "Tournament No. 1: A Newark Gym" c.1940, sold for $30,000, more than quadrupling the artist's previous auction high according to AskART.com. A fine Polar Bear overlaid and etched glass vase by Emile Gallé, c.1900, topped the two-day inaugural sale of fine and decorative art at Heritage Galleries & Auctioneers, selling on Saturday evening for $55,200 to a telephone bidder, matching the previous auction record for that model. A six-piece American silver bird's nest pattern tea service by Tiffany & Co., c.1872 topped silver sales, selling to a floor bidder for $43,200. A painting by Hudson River School artist Henry A. Ferguson titled "Sunset on Lake George" c.1860 sold for $27,600.

Bidding was particularly fierce during Friday's silver offering on aesthetic movement lots, with an American silver mixed metal tea set by Shiebler c.1885 fetching $10,800, and an American silver mixed metal aesthetic movement coffee pot by Whiting c.1880 selling for $10,200. An unusual pair of American silver mixed metal shakers by Gorham c.1880 believed to be experimental Cairo pattern, and an American silver mixed metal Aesthetic movement cigarette case by Whiting c.1885 depicting a spider with a fly trapped in its web, each sold for $7,200. Also noteworthy is an aesthetic movement silver match safe by Shiebler c.1890, the body formed by overlapping leaves with a gold washed frog emerging from under a leaf, which fetched an astounding $5,400.

Saturday morning's session comprised an exquisite collection of souvenir spoons, which realized a total of $205,027.20, vastly exceeding initial estimates. Highlighting the session were a silver and enamel black Americana souvenir spoon fetched the highest result at $3,600, a silver and enamel souvenir spoon depicting the surrender of Santa Anna, at $3,240, and a parcel-gilt silver Hawaiian souvenir spoon with a King Kamehameha-form handle and gold Hawaiian dollar bowl for $3,120.

Heritage was delighted in its Art Nouveau results, with near-frenetic bidding on a five-piece American silver Gorham Martelé tea service c.1905 fetching $31,200, as well as an American silver Gorham Martelé centerpiece bowl c.1923 sold for $14,400. The vast majority of Saturday evening's French Art Glass saw prices at or beyond high estimates with strong results in a Clematis mold-blown, overlaid and etched glass vase by Gallé, sold for $8,700 and a Mountain Laurel mold-blown overlaid and etched glass vase by Gallé, sold for $7,800.

Heritage Galleries & Auctioneers is currently accepting consignments for its next fine and decorative arts sale slated for Fall 2004. Enquiries should be directed to Bryan Abbott, 800.872.6467 ext. 320, bryan@HeritageGalleries.com or Karen Fedri, 800.872.6467 ext. 379 karenf@HeritageGalleries.com

Links to Sale Highlights:

LOT 19732
A FINE 'POLAR BEAR' OVERLAID AND ETCHED GLASS VASE Emile Gallé, c.1900, estimated $20-25,000. Realized $55,200

LOT 18615
AN AMERICAN SILVER SIX-PIECE BIRD'S NEST PATTERN TEA SERVICE Mark of Tiffany & Co., New York, c.1872, estimated $20,000-25,000. Realized $43,200

LOT 19781
HENRY MARTIN GASSER (American 1909-1981) Tournament No. 1: A Newark Gym, c. 1940, estimated $25,000-30,000. Realized $30,000

LOT 19819
HENRY A. FERGUSON (American 1842-1911) Sunset On Lake George, c.1860, estimated $20,000-25,000. Realized $27,600

LOT 18676
AN AMERICAN SILVER JAPANESE STYLE TEA SET Mark of Shiebler, New York, c.1885, estimated $3,000-5,000. Realized $10,800

LOT 18689
AN AMERICAN MIXED METAL AESTHETIC MOVEMENT COFFEE POT Mark of Whiting, Providence, Rhode Island, c.1880, estimated $4,000-6,000. Realized $10,200

LOT 18691
AN UNUSUAL PAIR OF AMERICAN MIXED METAL SHAKERS Mark of Gorham, Providence, Rhode Island, c.1880, estimated $1,600-1,800. Realized $7,200

LOT 18693
AN AMERICAN SILVER AESTHETIC MOVEMENT CIGARETTE CASE Mark of Whiting, New York, c.1885, estimated $1,800-2,400. Realized $7,200

LOT 18745
AN AMERICAN SILVER FIVE PIECE MARTELé TEA SERVICE Mark of Gorham, Providence, Rhode Island, c.1905, estimated $15,000-20,000 Realized $31,200

LOT 18747
AN AMERICAN SILVER MARTELé CENTERPIECE BOWL Mark of Gorham, Providence, Rhode Island, c.1923, estimated $9,000-12,000. Realized $14,400

LOT 19704
A 'CLEMATIS' MOLD-BLOWN, OVERLAID AND ETCHED GLASS VASE Emile Gallé, c.1910, estimated $4,000-6,000. Realized $8,700

LOT 19703
A 'MOUNTAIN LAUREL' MOLD-BLOWN, OVERLAID AND ETCHED GLASS VASE Emile Gallé, c.1910, estimated $2,000-4,000. Realized $7,800

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