Forbes lists Mr. Usmanov, 61, as the richest man in Russia, with a net worth of $15.8 billion from steel and mining, telecom and investments. He was an early investor in Facebook and is a part owner of the London soccer club Arsenal.

Image The Nobel Prize medal awarded to James D. Watson in 1962. Credit... Christie's, via European Pressphoto Agency

In a statement, Mr. Usmanov indicated that he was distressed that Dr. Watson was selling the medal in order to give much of the proceeds to charity, and he wanted to fulfill Dr. Watson’s charitable impulse without forcing him to give up the physical manifestation of his prize.

“In my opinion, a situation in which an outstanding scientist has to sell a medal recognizing his achievements is unacceptable," Mr. Usmanov said. “James Watson is one of the greatest biologists in the history of mankind, and his award for the discovery of DNA structure must belong to him.”

Mr. Usmanov had contacted Dr. Watson before the auction, offering to give him a cash gift to give to charity if he would call off the auction, a spokesman for Dr. Watson, David Kass, said Tuesday. But Dr. Watson wanted to see how it would play out, Mr. Kass said.

The auction brought in more than Mr. Usmanov’s original offer, Mr. Kass said. “Obviously he’s overjoyed to be getting it back,” he said of Dr. Watson. “He’s humbled by it.”