Saturday Auctions: Needlework Memorial

I'm spending the morning watching auctions on ebay live, a service that is discontinuing December 31, 2008. My observation is some early American furniture is going for remarkably low prices. Chinese export porcelain is coming in inline with the estimate. One Item I noted went way above estimate is #1267 at Freeman's, a Needlework mourning picture dated 1823.

Here's the description:

Depicting a young girl in white dress, bonnet and coral necklace holding a ball, the background with weeping willow and lake with swans, eglomise mat inscribed 'M.A. Pray in her 13th month daughter of J &C Pray Worked by her sister C. Pray, 1823', eglomise mat, in silk and chenille threads, heightened with watercolor on silk ground, gilt frame.
H: 31 1/4 in. W: 37 3/4in.

PROVENANCE:
Deaccessioned from a Pennsylvania Historical Institution.

Estimated at $10,000-$15,000, it closed at $38,000