Russian Billionaire Accuses Sotheby's of Art Fraud

Dmitry Rybolovlev alleges he was overcharged by $1 billion due to collusion between Sotheby's and Swiss art dealer Yves Bouvier.

Dmitry Rybolovlev, a Russian billionaire, has accused Sotheby's of colluding with Swiss art dealer Yves Bouvier to overcharge him by $1 billion for artworks.
Rybolovlev alleges that Bouvier bought famous artworks from Sotheby's and then sold them to him at marked up prices, leading to a loss of over $160 million.
Rybolovlev's suspicions were aroused when he discovered discrepancies in the prices reported by media outlets and the prices he paid for artworks.
Rybolovlev's legal team argues that Sotheby's either knew or should have known that Rybolovlev was being cheated and should have notified him.
Sotheby's defense argues that Rybolovlev did not exercise due diligence in his art purchases and that he is trying to make an innocent party pay for his lack of scrutiny.