Sotheby’s and Christie’s International, the world’s two biggest auction houses, are offering Russian art worth as much as $69 million next week, including paintings, Faberge works, silver, porcelain and icons.

Sotheby’s will hold an auction of Russian artifacts on April 16, followed a day later by a sale of 19th- and 20th- century paintings. The 526 lots could together earn as much as $50 million, Sotheby’s said. On April 18, Christie’s will offer 337 Russian lots for as much as $19 million.

Sotheby’s said about 70 percent of sellers are from the U.S., yet as many as 80 percent of buyers are likely to be Russian. With the Russian economy on course for a ninth year of commodities- driven growth, the circle of art collectors is widening.

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Posted: 04|13|07 at 10:03 am. Filed under: US Auction News.