A circular wax portrait of William Clay circa 1815, by Peter Rouw

in a moulded ebonised frame and gilt mount with a handwritten label to the reverse `Copy writing underneath the back No.5 Portrait of Wm Clay Esq/ Peter Rouw Sculptor Modeller of gems and cameos to H.M. The Prince Regent/ 22 Carmarthen Street/Fitzroy Square/ Nr Portland Road/London/ 1815/ cleaned by Arthur Clay 1879'

Peter Rouw was of Flemish origin and was the son of Percy Rouw also a distinguished modeller in wax, who flourished during the first half of the nineteenth century. He worked largely on tinted wax of pinkish colour and some of his portrait medallions are in the Victoria and Albert Museum, the best being of Pitt, Fox, and the Prince Regent subsequently George IV. 

It has been suggested that William Clay is related to the celebrated papier mâché manufacturer Henry Clay, d.1822.