[...] it was at Sotheby’s that the full strength of Russian bidding came into play, accounting for 30 per cent of lots in the main evening sale. Among these was the top lot, a vividly Expressionist St Dominic in Prayer by El Greco, which sold for a record £9.2 million. The same Russian bidder also claimed a crucifixion scene by El Greco for £3.4 million. Although Sotheby’s did not identify exactly which lots were bought by Russians, it would seem that the list was fairly eclectic and would include a 15th-century Madonna and Child by Francesco Botticini, two paintings by Jan Brueghel the Elder, and an 18th-century Venetian canal scene by Marieschi. The number of Russian-speaking telephone bidders was also overwhelming – so much so that the auctioneer, Henry Wyndham, christened one Olga, which was not her real name.

Sotheby’s co-chairman of Old Masters, Alex Bell, said afterwards that he thought the market had entered a new phase with this sale. Doing their homework over the weekend, Sotheby’s now estimates that in the past month, during which time they have taken nearly 290 million pounds in London, bidders from 75 different countries have registered with them. One in 6 were from Asia, Russia or the Middle East, and a similar percentage were bidding at Sotheby’s for the first time.