Fraud, or Just a Bad Deal? Oligarch and Sotheby's to Battle in Court Over Rarefied Art Trade.

Autor: Crow, Kelly (AUTHOR)
Předmět:
Zdroj: Wall Street Journal (Online). 1/8/2024, pN.PAG-N.PAG. 1p.
Abstrakt: Russian billionaire Dmitry Rybolovlev is taking Sotheby's to court in New York City, alleging that the auction house sold artworks to his art adviser, Yves Bouvier, knowing that Bouvier planned to resell them to Rybolovlev at inflated prices. Rybolovlev's family trusts spent around $2 billion amassing a collection that included works by Picasso, Rothko, and da Vinci. The trial will shed light on the secretive world of art dealing and the relationships between auction houses and wealthy clients. Sotheby's denies any wrongdoing and claims to have followed all legal requirements and industry best practices. [Extracted from the article]
Databáze: Regional Business News