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Rich Ruskies Buy Back Their Heritage

Billionaires snapping up art that left the country under Soviets

By Sam Gale Rosen,  Newser Staff

Posted Dec 1, 2007 6:07 PM CST

(Newser) – The super-rich of the new capitalist Russia are busy buying back a treasure trove of Russian art, much of it bought up on the cheap by foreign collectors after the 1917 revolution. This week, a throng of Russian billionaires walked away with most of the good stuff from a series of Russian art auctions in London, reports the Telegraph.

One piece—a Faberge egg-shaped clock with a diamond-crusted rooster that pops up and flaps its wings—sold at Christie's to a Russian collector for over $18 million. Before the revolution, the Telegraph reports, there were a number of superb art collections in Russia, but Soviet leaders had little interest in imperialist art, much of which they sold off to make a quick ruble.

The Egg Rothschild by Faberge is displayed during a preview at Christie's in Geneva, Switzerland, Friday, Nov. 9, 2007. The Egg Rothschild by Faberge is expected to fetch between US$12 and 18 million (8.2 and 12.3 million euro) and will be auctioned on Nov. 14, 2007 in London....
The "Egg Rothschild by Faberge" is displayed during a preview at Christie's in Geneva, Switzerland, Friday, Nov. 9, 2007. The Egg Rothschild by Faberge is expected to fetch between US$12 and 18 million...   (Associated Press)
A Faberge enamel cigarette case, previously owned by society hostess Mrs George Keppel, is seen on display at Sotheby's in London, Thursday, June 7, 2007. The case is in two-colour of gold and enamel demonstrating the workmanship of guilloche enamelling by Carl Faberge's chief workmaster, Michael Perchin and it is...
A Faberge enamel cigarette case, previously owned by society hostess Mrs George Keppel, is seen on display at Sotheby's in London, Thursday, June 7, 2007. The case is in two-colour of gold and enamel...   (Associated Press)
The Egg Rothschild by Faberge is displayed during a preview at Christie's in Geneva, Switzerland, Friday, Nov. 9, 2007. The Egg Rothschild by Faberge is expected to fetch between US$12 and 18 million (8.2 and 12.3 million euro) and will be auctioned on Nov. 14, 2007 in London....
The "Egg Rothschild by Faberge" is displayed during a preview at Christie's in Geneva, Switzerland, Friday, Nov. 9, 2007. The Egg Rothschild by Faberge is expected to fetch between US$12 and 18 million...   (Associated Press)
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