Stradivari violin sells for $1.2 million

updated 8:19 p.m. ET April 9, 2008

NEW YORK - A Stradivari owned by the first woman to play in the strings section of the Royal Philharmonic Orchestra has sold for $1.2 million.

Christie’s auction house said Friday that the 1700s violin, known as The Penny, was purchased for $1,273,000 by a buyer who did not wish to be identified. It had been estimated to sell for up to $1.5 million.

The violin’s owner, Barbara Penny, died last year. She was the first woman accepted in the strings section of the Royal Philharmonic Orchestra. She performed as a soloist and chamber musician throughout Europe.

A 1729 Stradivari violin, known as the Hammer, sold at Christie’s in 2006 for $3.5 million, which the auctioneer called a record for any musical instrument.

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