An Imperial Fabergé silver and enamel clock, workmaster: Michael Perchin, St. Petersburg, circa 1901

circular, the ground enamelled in translucent red over sunburst engine-turning and applied with a ring of entwined laurel, bound reed border, the aperture framed in seed pearls, ivory back, marked Fabergé with workmaster's initials and scratched inventory number 4175, 88 standard

Presented by Emperor Nicholas II and Empress Alexandra to their cousin, William II, German Emperor and King of Prussia, in 1901, the invoice showing the Empress' household billed for half the price 

The enamel and silver are in excellent condition apart from a shallow dent to the silver of the outer rim at 2 o'clock, measuring approx. 11mm. There is some discolouration to the ivory back, one screw lacking and a split near the edge of one screw.
"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."

William II (1859-1941), the last German Emperor and King of Prussia, was a first cousin of the Empress Alexandra Fedorovna, both being grandchildren of Queen Victoria, and a second cousin once removed of Emperor Nicholas II, sharing descent from King Frederick William III of Prussia. 

The family photograph illustrated here was taken in Coburg in 1894 at the wedding of Alexandra's brother, Ernest Louis, Grand Duke of Hesse, and Princess Victoria Melita of Saxe-Coburg-Gotha.  It was at this event that "Alicky" and "Nicky" became engaged, with "Willy" among those persuading her to accept his hand.  Family visits such as these were frequent until the outbreak of war.  The Imperial couple went yachting at Kiel with their cousin; William, in turn, joined his Russian relatives for yachting on the Finnish coast and hunting at Spala and Bielovezh.  It was almost certainly on such an occasion that the present lot was given by the Imperial couple to their cousin.