Bidders compete for rare Russian badge

13 June, 2008, 05:25

A unnamed Russian man has paid about $US 5.5 million for a diamond set badge of the Order of Saint Andrew at Sotheby's in London.

There was frantic bidding for the badge, which dates back to the early 19th century. It was finally sold for a figure five times the reserve price.

The Order of Saint Andrew is Russia's oldest and most prestigious award, established by Tsar Peter the Great in 1698 in honour of the apostle Andrew, the patron saint of Russia.

It fell into disuse during the Communist era but has recently been revived.  It has only one class, which in the past was awarded to both civilians and the military.

The sale completes a week of auctions of Russian Art at Sotheby’s in London.