Perry was beaten 42-13 by good friend and two-time world champion Mark Williams in Reading. It was the first time Perry had reached the last 16 of the unique event which is settled over one, 10-minute frame.
Perry had beat Chinese player Cao Yupeng with a break of 62 in the first round and saw off Leicester’s Tom Ford 46-38 in the second round. Perry was seeded sixth in the event and was the highest-ranked player left in the tournament at the end of the first two rounds.
Robin Hull of Finland won the event and the £32k first prize.
Perry, who hails from Chatteris, is back in action tonight when he tackles Tony Drago in the first round of the Welsh Open in Cardiff.