‘Venice at Sunset’ by world-renowned seascape artist Hovhannes (Ivan) Aivazovsky has been sold for £609,000 ($780,000) at Christie's auction of the Russian Art held in London on 26 November, TASS reports.

‘Venice at Sunset’ was estimated at £400,000-600,000 ($522,800-$784,200) at the auction. It was created in 1873 and belongs to John Kluge’s private collection. The painting never appeared in the arts market over the past 20 years.

The auction, that brought together 250 participants from 29 countries, collected a total of £7,15 million.

All proceeds from the sales at Christie's will be donated to the Colombia University of New York.  

Aivazovsky (born July 29, 1817 – died May 5, 1900), also known as Haivazovskiy, was a Russian painter of Armenian descent, most famous for his seascapes, which constitute more than half of his paintings. Aivazovsky was born to a poor Armenian family in the city of Theodosia in the Crimea.

At the age of twenty, he graduates from the Art Academy of St. Petersburg with a gold medal. He goes to Italy to continue his studies and returns as an internationally acclaimed seascape painter. Neither financial security nor life in Palace interests him. He returns to his native land, builds a workplace on the seashore and, until the last days of his life, dedicates himself to the work that he loves. He participates in exhibitions all over the world.