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Top related persons:
Rybolovlev - 3 Yves Bouvier - 3 Bouvier - 3 Salvator Mundi - 3 Sara Shudofsky - 3 Sotheby's - 3 Daniel Kornstein - 3 Dmitry Rybolovlev - 2
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New York U.S Manhattan Singapore , Hong Kong , New York Monaco Swiss Sotheby's Christie's
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Monaco Football Club SA - 1 New - 1 Xitrans Finance - 1 Associated Press - 1 Geneva - 1 CNBC PRO - 1 The New York Times - 1 Sotheby’s - 1

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3 mentions found


☆ Russian oligarch Dmitry Rybolovlev loses suit accusing Sotheby's of art fraud
  + stars: | 2024-01-30 | by ( Dan Mangan | ) www.cnbc.com   time to read: +3 min
Dmitry Rybolovlev, president of As Monaco Football Club SA, arrives at court in New York on Jan. 9, 2024. Russian billionaire Dmitry Rybolovlev on Tuesday lost a New York federal court lawsuit in which he had accused the Sotheby's auction house of helping an art buyer defraud the oligarch by having him grossly overpay for various pieces of art. "It knew the actual prices Bouvier paid to the sellers and the fraudulently inflated prices Bouvier induced Plaintiffs to pay to him," the suit said. At trial, Sotheby's lawyer Sara Shudofsky told jurors that Rybolovlev was "trying to make an innocent party pay for what somebody else did to him." "We are grateful to the jury for its verdict, which totally vindicates Sotheby's of any alleged misconduct," Sotheby's said.
Persons: Dmitry Rybolovlev, Rybolovlev, Yves Bouvier, Bouvier, Leonardo da Vinci, Salvator Mundi, Sara Shudofsky, Shudofsky, Sotheby's, Daniel Kornstein, Kornstein, Donald Trump Organizations: Monaco Football Club SA, New, Xitrans Finance, Associated Press, Geneva, CNBC PRO Locations: New York, U.S, Manhattan, Sotheby's, Christie's, Beach , Florida, Singapore , Hong Kong , New York, Monaco
☆ Russian Billionaire Loses Art Fraud Suit Against Sotheby's Over $160 Million
  + stars: | 2024-01-30 | by ( Associated Press | Jan. | At P.M. | ) www.usnews.com   time to read: +3 min
The fertilizer titan alleged that the auction house helped a Swiss art dealer cheat him out of over $160 million by quietly imposing huge markups on works that he acquired. In private transactions, Sotheby’s sold Bouvier some works that he then resold to Rybolovlev. Well, not only of money," Rybolovlev said, through a court interpreter on the witness stand. Rybolovlev’s lawyers said Bouvier bought it from Sotheby’s for $83 million, then sold it on to the billionaire a day later for over $127 million. In 2017, Rybolovlev sold it through Christie’s for a historic $450 million and it became the most expensive painting ever sold at auction.
Persons: Sotheby’s, Leonardo, ”, Dmitry Rybolovlev's, he'd, Sotheby's, “ Today’s, Daniel Kornstein, ” Rybolovlev, Picasso, Rodin, Modigliani, Klimt, Magritte, Leonardo da Vinci, Yves Bouvier, Bouvier “, Bouvier, Rybolovlev, it’s, ” Sotheby’s, Sara Shudofsky, Vinci’s, Salvator Mundi, Jesus Christ Organizations: The New York Times Locations: U.S, York, The, Swiss, Sotheby’s
☆ Tearful Russian Billionaire Who Spent $2 Billion on Art Tells Jurors Sotheby's Cheated Him
  + stars: | 2024-01-12 | by ( Associated Press | Jan. | At P.M. | ) www.usnews.com   time to read: +4 min
His legal team said Bouvier pocketed the sum by buying famous artworks from Sotheby's before selling them to Rybolovlev at marked up prices. In all, Rybolovlev spent about $2 billion on art from 2002 to 2014 as he built a world-class art collection. In his testimony, Rybolovlev blamed murky practices in the blue-chip art world for leaving him damaged financially. When asked by his lawyer why he sued Sotheby's, Rybolovlev said: “So it's not an issue of money. Rybolovlev claims he was purposefully deceived by Bouvier and a London-based executive at Sotheby's as he bought 38 art pieces.
Persons: he'd, Dmitry Rybolovlev, Rybolovlev, Yves Bouvier, “, I'm, ” Rybolovlev, Bouvier, didn't, ”, Sotheby's, it's, Sara Shudofsky, Daniel Kornstein, “ Sotheby’s, Leonardo da Vinci’s, Salvator Mundi, Bouvier's, David Bitton, Yves Klein, Bouvier “, Trump, Vladimir Putin, Kornstein, hasn’t Organizations: Sotheby’s, Sotheby's, Russia Locations: Swiss, Manhattan, London, New York, Singapore , Hong Kong , New York, Monaco, Geneva, Switzerland, Ukraine, Russia
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