Tiny George Washington portrait sells for $1.2 million

John Ramage's 1789 miniature portrait of George Washington is the first of Washington as the first president of the newly formed United States of America after his 1789 inauguration

NEW YORK (Reuters) -- A 2-1/8 inch-tall portrait of President George Washington has sold for $1.2 million, a record for any portrait miniature sold at auction, Christie's said.

A Christie's auction house spokeswoman said the portrait, the first of Washington as the first president of the newly formed United States of America after his 1789 inauguration, fetched $1,216,000 on Friday, including the auction house's commission.

The miniature, which is in a gold case that contains a lock of Washington's hair and is decorated with his initials, last appeared on the market in 1988 when it sold for $633,600 at Christie's in London.

Until Friday, the 1988 price was an auction record for any portrait miniature. The pre-sale estimate for Friday's auction was $800,000 to $1.2 million.

The portrait shows Washington in full dress, wearing his blue and buff officer's uniform. It was painted October 3, 1789, by Irish-born artist John Ramage, who was the most fashionable portrait miniaturist in New York City at the time, Christie's said.

Christie's and Sotheby's held auctions of presidential memorabilia last week, ahead of Saturday's inauguration of George W. Bush as the 43rd U.S. president.

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