One of the last Fabergé eggs in private hands has sold for $A46.1 million, breaking its own record as the most expensive work by the Russian jeweller.

The Winter Egg, which was commissioned by Russia’s last emperor, Tsar Nicholas II, in 1913 as a gift for Dowager Empress Maria Feodorovna, is described as one of the most lavish of Faberge’s imperial creations.

It is finely carved in rock crystal and engraved on the interior with a frost design, while the exterior is applied with rose-cut diamond-set platinum snowflake motifs.

It sold for £22,895,000 ($A46.1 million), London auction house Christie’s said, beating the previous world auction record for a work by Faberge by more than £13 million ($A26.18 million).

The old record was set in 2007 when the Rothschild Egg fetched £8.9 million ($A17.92 million).

Christie’s said it was the third time the Winter Egg had set a record price for a Faberge piece.

“Christie’s is honoured to have been entrusted with the sale of the exquisite Winter Egg by Faberge for the third time in our history,” said Margo Oganesian, head of department for Faberge and Russian works of art.

“Today’s result sets a new world auction record for a work by Faberge, reaffirming the enduring significance of this masterpiece and celebrating the rarity and brilliance of what is widely regarded as one of Faberge’s finest creations, both technically and artistically.

“With only a handful of imperial Easter eggs remaining in private hands, this was an exceptional and historic opportunity for collectors to acquire a work of unparalleled importance.”

After the Russian Revolution in 1917, the egg was transferred from St Petersburg to the Kremlin Armoury in Moscow, along with many other valuable possessions of the royal family.

In the 1920s, the Soviet government began selling off art treasures from the Hermitage Museum and other collections, often for only a fraction of their value.

The Winter Egg was acquired by antiques dealer Wartski of London for £450 ($A906), then sold to a British collector in 1934 for £1500 (SA3020), before later being sold on to another.

It was believed lost for two decades from 1975 until 1994, when it was sold at Christie’s for a world record 7,263,500 Swiss francs ($A13.7 million).

In 2002 it was again sold by Christie’s for another world record of $US9,579,000 ($A14,584,000).

­–PA