Christie's much anticipated Russian art auction has concluded with an impressive $5,225,250 total.
However, much of the auction was not art in a strict sense, although it was all distinctively Russian. The diverse selection also included more than 250 lots of silver, enamels, vertú, porcelain, bronzes, militaria; in addition to 44 lots of Fabergé.
Of the militaria pieces, one stood out immediately. This was a gold and enamel Order of the White Eagle.
As we've often noted, the Russian medals market is one of the strongest areas for investors at this time as medals appear to be a collectible which high net worth Russians are particularly interested in.
Earlier this year, for example, a beautiful example of an Order of the White Eagle Neck badge achieved US$46,800 against its US$30,000 estimate in the Baldwin's/Martov/M&M. The fine award was offered as part of the Walter Mooromsky collection.
The Christie's example is obviously not identical to that one, but it drew a similarly enthusiastic response. The $15,000-25,000 listing was simply trounced in the sale, where it drew $68,500.
Of the sale in general, Izabela Grocholski, Head of Russian Art, Christie's America commented: "The results of the sale clearly indicate that the market for Russian Art is strong and deep, with an international clientele in search of high quality works.
"Bidders in the room, over the phone and on Christie's LIVE bid beyond the high estimate for multiple paintings and works of art."
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