Fabergé eggs sold to Russian industrialist

NEW YORK -- A Russian industrialist privately purchased the Forbes collection of historic Fabergé art pieces, including nine rare Imperial Easter Eggs, for an undisclosed sum and ahead of a scheduled auction.

The eggs, all commissioned by Russian czars in the late 1800s, and more than 180 other Fabergé pieces were bought by Victor Vekselberg, Sotheby's said Wednesday.

Sotheby's had estimated the entire collection at up to $90 million. The Coronation Egg -- the most valued piece -- could have fetched as much as $24 million at auction, Sotheby's said. The private sale negotiated by Sotheby's on behalf of the Forbes family "happened very quickly," said Diana Phillips, an auction house spokeswoman. She wouldn't disclose the purchase price.

Sotheby's had planned to auction the items in April.

Carl Faberge, who created jewelry for European royalty in the 19th century, was commissioned by Czar Alexander III in 1885 to create an Easter gift for his wife, Czarina Marina Feodorovna. Nicholas II continued the tradition, and the collection grew.

The eggs, about 5 inches tall, are intricately designed and individually crafted. The Coronation Egg is made of gold enamel and contains a replica of the coach Czarina Alexandra rode into Moscow in 1897.

Only the Kremlin owns more Faberge Imperial eggs -- at 10.

"The Fabergé Egg collection," said Vekselberg, "represents perhaps the most significant example of our cultural heritage outside Russia. The religious, spiritual and emotional content captured by these Fabergé eggs touches upon the soul of the Russian people."

Malcolm S. Forbes, the late publisher and editor of Forbes magazine, collected the eggs from the 1960s until his death in 1990. His family had said the auction would free it from the upkeep of the collection.

In a statement issued by Sotheby's, the family said it was "delighted that the advent of a new era in Russia has made possible the return of these extraordinary objects. It is an astonishingly romantic ending to one of the great stories in art history."

The eggs and other choice pieces from the collection, including stone carvings, gold cigarette cases and gem-studded picture frames, will be displayed at Sotheby's New York galleries -- on a date to be announced later -- before Vekselberg returns the collection to Russia.

Vekselberg is chairman of the board of directors of Renova, an investment and business development company. He was instrumental in forging a Russian-U.S. partnership that acquired the controlling rights to Tyumen Oil Company, now Russia's third largest oil and gas company.

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On the Net:

Forbes: http://www.forbes.com/faberge

Sotheby's: http://www.sothebys.com/