For the first time in history, works by contemporary Russian artists are on display in the Kremlin this week.

Art auctions in Russia are still not as common as in the West, but Russian art collectors have emerged as the most active buyers on the art market.

Simon De Pury said, "It is not yet a mature market, it's market which is still in its early stages and that's leads me to believe that there is a great great potential going forward for the Russian contemporary art market."

The auction was a special event both for Russian art and the Russian public. It was the first time Russian contemporary artists could display their works inside the ancient walls of the Kremlin, and also a rare chance for Russian art collectors to buy work by famous artists.

(CCTV October 30, 2008)