Russian art sets auction records

Prices for Russian works of art set a series of new records at auctions in London this week. Christie’s and Sotheby’s both reported hectic bidding dominated by Russian collectors seeking their own national heirlooms.

Two Christie’s sales of paintings and works of art fetched a total of $23.6 million, while Sotheby’s sale totaled $18 million.

Top price of the sales went to Ivan Aivazovsky’s “St. Isaac’s on a Frosty Day,” which was purchased for $2.2 million -- a new auction record not only for the artist but also for any 19th century Russian painting. It was closely followed by Ilya Repin’s “Study of a Family Portrait,” which fetched $2 million.