11/29/2007 - Record-Breaking Sale of Russian Art
Yesterday's sale of Russian artwork at Christie's in London raised a record 39.1 million pounds ($81M), exceeding Sotheby's totals from the prior two days of 38.7 million pounds. The art included 19th and 20th century paintings and czarist-era swords and silver. The sale included 413 lots, of which 80 percent sold. Highlighting the new nationalism among collectors, about 90% of the acquisitions were made by Russians and residents of the former Soviet Union.
The most expensive piece of the evening and of any Russian auction, a Faberge Egg, sold for 8.98 million pounds to the director of the Russian National Museum.