Russian collectors are making their presence felt as they invest heavily in art. “A new elite is taking up the mantle of pre-Revolutionary collectors, the czars and industrialists whose collections became museums, including the Hermitage in St. Petersburg and the Tretyakov in Moscow. The Russian government has lifted taxes and duties to spur the return of works smuggled abroad by nobles or sold by the Bolsheviks after the Revolution of 1917. The authorities also want to encourage Russia’s new multimillionaires to bring home the acquisitions they have been making, and keeping, outside the country.”