Dealers Sue Sotheby’s Over Da Vinci Work Resold for Over $120 Million

December 5th, 2016

The New York Times reports on a lawsuit between a group of New York dealers and Sotheby’s stemming, from Yves Bouvier’s sale of a Da Vinci painting to Dmitriy Rybolovlev at over $120 million.  The dealers reportedly sold Bouvier the work at $80 million shortly before the Swiss dealer turned around and resold the work to Rybolovlev at a substantial markup, and are suing the auction house for misleading them over the work’s value.  “Apparently experiencing seller’s remorse, [the dealers] are trying to gain the benefit of a subsequent sale price that Sotheby’s had nothing to do with,” a lawyer for the auction house said.

Read more at NYT