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According to London, "Contemporary art is pretty well covered, but there was nothing for Russian art apart from the regular auctions. We also want it to be a social occasion, because there are not a huge number of social events for Russians in London."

The fair will focus on art in the £2,000 ($2,900) to £40,000 price range, with painters such as Wassily Kandinsky, Kazimir Malevich, and Natalia Goncharova represented, as well as pieces of imperial Russian silver, religious icons, and items by Fabergé.

London noted, "There are now almost 400,000 Russians living in London, including countless millionaires. Yet until now there has not been a dedicated event to cater for the renowned eclectic taste of the Russian art collector."

The inaugural fair is scheduled for June 6–9 at the Jumeirah Carlton Tower hotel in Knightsbridge.