Sotheby's auction house makes $19 million on Russian Art auction

Sotheby's auction house earned almost $19 million on Russian Art auction that took place in London yesterday. 80% of the lots went under the hammer. Sotheby's has called it a record over the past three years, TASS reports.

It is worth mentioning that the most expencive lot, Nadezhda Sapozhnikova's portrait by Nikolai Fetchin, went under the hammer for a record price of $4,6 mln with the initial estimation of about $1,5 mln .

14 works by avant-garde painter Alexandra Exter were also among top lots of the auction. Paintings of Konstantin Makovsky, Petr Vereschagin, and Isaak Levitan participated in the Russian Art auction as well.

Soviet Art auction timed with 100 years of Russian Revolution has presented one of the most expensive lot with starting price of £3.5 mln ($4,6 mln). The artwork has remained unsold. A Factory Party Meeting by Georgi Rublev dated 1933 has become the most expensive purchase during the Soviet Art auction. $650 thousand were paid for the artwork, making it the most highly-estimated price for the artist's works.

Lomonosov Imperial Porcelain Factory A Porcelain set made to mark the decade of the October revolution was sold for more than $200 thousand, six times more than preliminary price.

The popular Russian auction week organised by Christie's, Sotheby's, MacDougall's and Bonhams is held twice a year.

Russkiy Mir