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Yves Bouvier

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legal-art2 years ago•3 min saved

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.

via The Guardian US|

#art-fraud #dmitry-rybolovlev #legal-art

art-and-legal2 years ago•6 min saved

"Rybolovlev vs. Sotheby's: Art Fraud Trial Concludes with Jury Deliberation"

Lawyers for Dmitry Rybolovlev’s Accent Delight International and Sotheby’s made closing statements in a decade-long legal feud over alleged overcharging by Swiss art dealer Yves Bouvier. The case could impact art business practices. The jury must decide if Sotheby’s aided Bouvier in defrauding Rybolovlev. Plaintiffs argue Sotheby’s fostered a culture of greed, while the defense contends Rybolovlev was defrauded solely by Bouvier. Deliberation begins Tuesday.

via ARTnews|

#art-and-legal #art-world #dmitry-rybolovlev

legal-art2 years ago•4 min saved

"Art Fraud Trial: Russian Billionaire Testifies and Sotheby's Responds"

Russian billionaire Dmitry Rybolovlev testified in the ongoing trial against Sotheby's, alleging that the auction house colluded with Swiss art dealer Yves Bouvier to overcharge him by $1 billion for artworks. Rybolovlev grew suspicious after learning of discrepancies in reported prices for artworks he had purchased, leading to doubts about the transparency of the art market. Sotheby's attorney emphasized Rybolovlev's role in the purchases and suggested that he was ultimately responsible for the transactions.

via ARTnews|

#art-market #dmitry-rybolovlev #legal-art

legalcourt-case2 years ago•5 min saved

"Sotheby's Accused of Art Fraud by Russian Billionaire"

An aide to Russian billionaire Dmitry Rybolovlev testified in a Manhattan court that a Sotheby's expert's opinions were used to persuade them to overpay for art, as part of a case against Sotheby's for allegedly helping a Swiss art dealer defraud Rybolovlev. The dealer, Yves Bouvier, denies any wrongdoing and claims he operated as an independent dealer. Sotheby's maintains it was not aware of any fraud and that Rybolovlev should have taken reasonable measures to protect himself. The trial is shedding light on the secretive art trade and is expected to last about six weeks.

via The New York Times|

#art-fraud #dmitry-rybolovlev #legalcourt-case

legal-art2 years ago•3 min saved

Russian Oligarch Dmitry Rybolovlev's Legal Battle with Sotheby's Over Art Sales

Russian oligarch Dmitry Rybolovlev is suing Sotheby’s, alleging that the auction house aided art dealer Yves Bouvier in overcharging him by $1 billion for 38 works of art. The case centers on Bouvier's dual role as both adviser and dealer, with Sotheby’s accused of inflating valuations to disguise Bouvier’s inflated prices. The artworks in question include pieces by Amedeo Modigliani, René Magritte, Gustav Klimt, and Leonardo da Vinci. The trial has the potential to shed light on questionable practices in the art market.

via ARTnews|

#art-market #court-battle #dmitry-rybolovlev