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Russian Billionaire's Lawsuit Against Sotheby's for Art Fraud Ends in Defeat

Russian billionaire Dmitry Rybolovlev has lost a case against Sotheby’s, accusing the auction house of defrauding him in art sales, including the purchase of Salvator Mundi attributed to Leonardo da Vinci. The jury ruled in favor of Sotheby’s, stating that it adhered to legal requirements and industry best practices. The case shed light on the lack of transparency in the art market, and although Rybolovlev was allowed to sue over Salvator Mundi, the verdict reflected a lack of evidence of cheating by Sotheby’s.

1 year ago•Source: The Guardian US

"Sotheby's Victorious: Russian Billionaire's Art Fraud Lawsuit Dismissed"

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2.455 min•1 year ago

"Sotheby's Victorious: Russian Billionaire's Art Fraud Lawsuit Dismissed"

Sotheby's wins a federal jury trial against Russian billionaire Dmitry Rybolovlev, who accused the auction house of defrauding him in art sales, including the purchase of "Salvator Mundi" attributed to Leonardo da Vinci. The jury ruled in favor of Sotheby's, stating it had no knowledge of any deception by Swiss art dealer Yves Bouvier, and rejected Rybolovlev's claims of inflated prices. The case sheds light on transparency issues in the art market and has been one of the highest-profile art fraud disputes in recent years.

via New York Post