Repin painting sells for $7.4 million

Christie's auction house says it has set a world auction record for Russian artist Ilya Repin with the 4.5 million pound ($7.4 million) sale of "A Parisian Cafe."

The auction house says the piece — painted in 1897 — had been in a private collection since 1916.

Bidding started at 1.8 million pounds on Monday and the piece eventually sold to an anonymous telephone bidder.

"A Parisian Cafe" is the renowned Russian master's largest oil painting.

It depicts a traditional Parisian cafe scene. Christie's had estimated it would fetch between 3 million and 5 million pounds.