Selling at £3.7 million in 2007, this work is on a list of the 10 most expensive paintings by Russian artists. The year before the global financial crisis struck, 2007, the sale of this painting for such a colossal sum was cause for sensation. The painting became the most expensive art work sold at Russian Art Week, the name given to the several days when the main auction houses in the world’s international auction capitals sell only Russian art.
On June 14, 2007, Somov's landscape "The Rainbow" (1927) was sold at Christie's for US$7.33 million, a record for a work at an auction of Russian art. (https://en.wikipedia.org/wiki/Konstantin_Somov)
Konstantin Somov's The Rainbow was sold for £3.3 million ($6.5 million), but was able to retain its record price status for five days only,” Christie's spokesman Vitaly Ryazantsev said, adding that the winning bid for the 1927 picture was more than six times its top estimate.