At Christie’s auction in London, Russian wealth continued to pour into the art market as work by Russian artists brought in nearly $13m only a month after a similar sales in New York realized a total of $8.5m. Highlight of the sale was Léon Bakst’s “The Yellow Sultana” for $1.5m , double its high estimate.The increasing emphasis of staging sales dedicated to only Russian pieces has proved profitable with record prices seemingly routinely established. At the London auction, a Prince Galitzine portrait by Orest Kiprensky went from a high estimate of $471,000 to a $1.4 sale.
