London - A violin once owned by Italian virtuoso Nicolo Paganini has been sold for 568,000 pounds (999,000 dollars) at auction in London and will find a new home in the Moscow-based Violin Art Foundation, press reports said Wednesday.

The violin auctioned at Sotheby's in London late Tuesday evening was made by Carlo Bergonzi, the rarest of all the Cremonese makers, and is one of only 50 instruments by him that survive.

It was the first time since 1984 that a Bergonzi violin appeared at auction, and the first time a Paganini violin has gone under the hammer.

Paganini (1782-1840) was the greatest virtuoso violinist of the 19th century.

His compositions revolutionised violin technique and his performances stunned audiences all over Europe.

He took Italy by storm at the age of 15, but it was to be 30 years later that he truly made his mark throughout the rest of Europe.

By the time he reached London in 1831, his reputation was such that it was said that even the King could not afford his fee.

The violin was purchased by Maxim Viktorov, chairman of the Board of Trustees of the Moscow-based Violin Art Foundation.

Winners of an annual violin competition in Moscow now have the chance to play the violin for a year.

Viktorov said: 'It is a perfect instrument and we are sure that it will bring to Moscow the spirit and energy of Paganini'.