The Cadence and Vitality of Art and Paintings

Art have a life of their own and creating them has been a discussion with an expanded part of me

The Thrive Global Community welcomes voices from many spheres on our open platform. We publish pieces as written by outside contributors with a wide range of opinions, which don’t necessarily reflect our own. Community stories are not commissioned by our editorial team and must meet our guidelines prior to being published.
Image: The Tablet

A Russian tycoon Dmitry Rybolovlev, and owner of Monaco soccer club, have taken legal action against Sotheby’s for as a minimum $380 million, claiming the auction house facilitated his former art consultant to swindle him.

The claims, which Sotheby’s refutes, extend a long disagreement among Rybolovlev and Swiss art dealer Yves Bouvier. According to Sotheby’s Rybolovlev he was fiddled by Bouvier for a collection of paintings. Bouvier denies any wrongdoing.

Two corporations owned by self-assurance of the Rybolovlev kin and based in the British Virgin Islands filed a case against Sotheby’s in a New York law court on Tuesday.

The firms Plaintiff Accent Delight International Ltd as well as Plaintiff Xitrans Finance Ltd are demanding compensations from Sotheby’s of at least $380M and more interest, conferring to their claim.

According to Forbes magazine Rybolovlev’s wealth estimates is $6.8 billion mostly resulting from the trade of Russian potash manufacturer Uralkali in 2010 to 2011.

A fruitful asset was his acquisition of Leonardo da Vinci’s art of Christ, Salvator Mundi from Bouvier for $127M in 2013. In 2017, Rybolovlev traded it for $450M at a Christie’s sale, making Salvator Mundi the most costly painting ever traded though some of the purchases from Bouvier made a loss.

Sotheby’s said “The false claims that Mr. Rybolovlev is making are already being filed in the Swiss courts, which is the suitable place for this case”, adding it would pursue to discharge the act in New York and carry on to pursue its suit in Switzerland.

Daniel Levy, Bouvier’s attorney, failed to remark on the litigation. But in a July brief to a U.S. Court of appeals, Levy depicted Rybolovlev’s several lawful actions against his client since 2015 in Singapore, Switzerland Monaco and Hong Kong as a “universal terror battle” designed to get him to surrender.

Besides, there wasn’t a treaty binding his client as a go-between for Rybolovlev’s companies with fiduciary errands, which means Bouvier was allowed to sell the painting to Rybolovlev at any value.

Share your comments below. Please read our commenting guidelines before posting. If you have a concern about a comment, report it here.

You might also like...


Daniel De La Vega, President of ONE Sotheby’s International Realty, is Here to Stay

by Mike Souheil

Julie Leonhardt LaTorre of Sotheby’s International Realty: “Do fewer things, better”

by Yitzi Weiner

Olivia Davis: “Reputation is everything”

by Candice Georgiadis
We use cookies on our site to give you the best experience possible. By continuing to browse the site, you agree to this use. For more information on how we use cookies, see our Privacy Policy.