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A painting by renowned Russian-Armenia seascape artist Hovhannes (Ivan) Aivazovsky has been sold for $635,000 (£491,000) at Christie's auction in London on the sidelines of the traditional autumn Russian Art Week sale, TASS reports.

The canvas, Sunset over Ischia, signed and dated 'Aïvazovsky/1873', was initially estimated between £300,000-500,000.

Christie's auction of the Russian art raised a total of $15,5 million. Canvases, samples of decorative and applied arts were on display during the auction.

“We are very pleased with the results of the auction. The participation of experienced collectors and new clients testifies to the continuing interest in the Russian art around the world,” said Alexandra Babko and Margo Hovhannisyan, the organizers of the Russian art auction. 

The Russian Art Week is a major international art fair traditionally held in London twice a year — in May-June and November-December. Apart from Christie’s, other auction houses like Sotheby's, MacDougall's and Bonhams take part in it. The Russian Art Week in June 2019 raised more than $45 million, making one of the most successful auctions in many years.