Diamond-encrusted Russian Czar portrait auctioned for $1.3 million
Sotheby’s auction house has sold a rare miniature portrait of the 18th century Russian Czar, Peter the Great, in a diamond-encrusted frame. An Arizona family owned the miniature portrait in a diamond-encrusted frame for decades before they learned of its historic importance. Purchased in 1951 from a London dealer, the family has auctioned it for $1.3 million. Believed to be one of the 10 bejeweled miniatures bestowed by Peter the Great on his subjects, it depicts the czar in a blue cape and a sash in 3 1/2-inch-high oval portrait hanging from an imperial crown.