Apparently Russians have a love of money. Eliciting comparisons to Saudi high rollers of the 1970s and Japanese consumers of the 1990s, they shop for Gulfstream G550 airplanes and diamond-encrusted car grilles at modestly named shindigs. They also have a thing for cultural heritage and Faberge eggs.

Last week, Christie's and Sotheby's sold a combined $160 million worth of Russian artworks in London--a record haul that toppled previous highs. Among the highlights was a pink Faberge egg with a peek-a-boo diamond-set cockerel that sold for $16.5 million, a good bit of change more than the asking price of this ovoidal architectural wonder.

Goncharova's Bluebells

The world has been smitten with Russian collectors ever since an anonymous fellow with a bad dye job and apparently worse shoes mysteriously showed up at Sotheby's a year ago last May and plunked down $95 million for a Picasso. Today Russia claims some 53 billionaires and more than 100,000 millionaires, according to the New York Times. The nation also claims title to the most expensive female artist: Natalia Goncharova whose Picking Apples, sold for $9.8 million in June. Last week Goncharova's Bluebells fetched $6.2 million at Sotheby's, the top lot of its inaugural Russian evening sale. 

Vik Muniz

Vik Muniz

With its burgeoning scene of art-infatuated oligarchs (and their wives), art foundations, collecting clubs, art fairs, galleries, and private museums, Larry Gagosian paid a well-heeled visit to Moscow in the fall. Now Vik Muniz, who will render you and your significant other in Bosco chocolate syrup for $110,000 (thank Neiman Marcus) for the holidays, has rendered Russian icons in puzzle pieces and sand for an exhibition at Moscow's Gary Tatintsian Gallery. Must be love or something like it.

--Kelly Devine Thomas