Rybolovlev is trying to hold Sotheby’s responsible for what his lawyers said was the loss of over $160 million. 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.<\/p>\n
When asked by his lawyer why he sued Sotheby’s, Rybolovlev said: \u201cSo it’s not an issue of money. Well, not only of money. It’s important for the art market to be more transparent. Because … when the largest company in this industry is involved in actions of this sort, you know, clients don’t stand a chance.\u201d<\/p>\n
https:\/\/abcnews.go.com\/amp\/Business\/wireStory\/tearful-russian-billionaire-spent-2-billion-art-tells-106343274<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" A Russian billionaire who accused Sotheby’s of teaming up with a Swiss art dealer to cheat him of tens of millions of dollars became tearful while testifying in court and calling for more transparency in the art market Rybolovlev is … Continue reading