Sotheby's Russian sales yield about $16 million

LONDON, June 7. /TASS/. Sotheby's Russian Art Sales in London yielded a total of 12.1 million British pounds ($15.6 million at the current exchange rate) on Tuesday, posting a 73-percent increase on the equivalent sales in London last year, the auction house said in a statement.

The sales were led by two works by the Russian landscape painter Isaak Levitan.

"Summer" (1891) and "Overgrown Pond" (1888) each sold for 908,750  British pounds ($1.1 million at the current exchange rate), the highest prices paid for the artist at auction in nearly a decade. "Summer" had never before appeared at auction, and "Overgrown Pond" last appeared for sale over 20 years ago.

Other works to realise prices in excess of half a million pounds include Ilya Repin’s portrait of his son Yuri (1894) which made 764,750  British pounds (about $990,000 at the current exchange rate).

Alexei Bogoliubov’s "View of Venice" which doubled its pre-sale estimate to make 500,750  British pounds (about $645,000 at the current exchange rate)

Konstantin Yuon’s "The Kremlin at Night" (1914) was the highest value 20th century work offered in today’s sale, bringing 728,750  British pounds (about $940,000 at the current exchange rate).

#AuctionUpdate Konstantin Yuon's majestic view of The Kremlin at Night flies above high estimate to make £730k in our #Russian Pictures sale pic.twitter.com/KSj27ntHef

— Sotheby's (@Sothebys) 6 June 2017

A Faberge timepiece led the sale of Russian Works of Art, Faberge and Icons, fetching an above-estimate 296,750  British pounds ($380,000).

In total, 78% of all Sotheby’s lots were sold.

The sales took place as part of the Russian Art Week, a major international art fair in London, held bi-annually every June and November. During the week, the UK's four leading auction houses (Christie's, Sotheby's, MacDougall's and Bonhams) hold sales featuring Russian paintings and works of art.

Christie’s Russian art sales took place on Monday and brought 5 million  British pounds ($6.5 million). MacDougall's and Bonhams will hold their sales of Russian art objects on June 7.