Dmitriy Rybolovlev Takes 74% Loss on Gauguin Painting

March 2nd, 2017

Collector Dmitriy Rybolovlev has taken a 74% loss on the sale of a Paul Gauguin canvas Te Fare (La Maison) yesterday at Christie’s, Bloomberg reports.  The Russian collector bought the work in 2008 through dealer Yves Bouvier, who he is currently suing for allegedly overcharging him on the purchases of a series of works.  “As Singapore’s highest court noted, the buyers in this case ‘obtained the masterpieces which were precisely what they wanted, and these were all transacted at prices they agreed to pay,”’ says Ron Soffer, Bouvier’s lawyer.

Read more at Bloomberg