Russian Billionaire Accuses Sotheby’s of Role in Art Fraud

Dmitry Rybolovlev alleges he was tricked into overpaying for artworks, including da Vinci’s 'Salvator Mundi', due to inflated prices set by Swiss art dealer Yves Bouvier with Sotheby’s alleged involvement.

Dmitry Rybolovlev, a Russian billionaire, has accused Sotheby’s of assisting Swiss art dealer Yves Bouvier in defrauding him by inflating prices of artworks.
Rybolovlev alleges that Bouvier bought artworks through Sotheby’s and resold them to him at significant markups, pocketing millions in secret markups.
The case focuses on four masterworks, including Leonardo da Vinci’s 'Salvator Mundi', which Rybolovlev bought for $127.5 million, not knowing Bouvier had bought it a day earlier for $83 million.
Sotheby’s denies any involvement in the alleged fraud, arguing that it was not aware of Bouvier's actions and that Rybolovlev should blame himself for not taking reasonable measures to protect himself from price inflations.
The trial provides a rare insight into the secretive art trade and is expected to last about six weeks.