Bloomberg Reports on Sales Losses in Collection of Dmitriy Rybolovlev

February 24th, 2017

Bloomberg has a piece on Dmitriy Rybolovlev’s art collection this week, after the collector lost a reported $100 million on sales in the past months.  The piece notes Rybolovlev’s aggressive buying as a cause of these losses, as he seeks to unload a number of works acquired at record prices, while the collector points to the immense prices as further evidence of the damages caused by his purchases through dealer Yves Bouvier.  “The gulf between Christie’s estimates and the original purchase prices of the works is a further illustration of the unprecedented scale and audacity of the fraud that the plaintiffs allege was perpetrated by Mr. Bouvier,” says Sergey Chernitsyn, a representative of the Rybolovlev Family Office.  

Read more at Bloomberg