Sotheby’s vs. Rybolovlev: Contrasting Culpability in Fraud Trial Closing Arguments
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The civil fraud trial between Sotheby’s and Russian billionaire Dmitry Rybolovlev is nearing its conclusion as the lawyers delivered their closing arguments. Rybolovlev claims that Sotheby’s engaged in fraudulent practices by allowing Swiss businessman Yves Bouvier to acquire and resell art at inflated prices. The trial centers around four works, including the controversially reattributed Salvator Mundi. Rybolovlev settled with Bouvier in December 2023, leaving the trial against Sotheby’s as his final attempt for compensation.
Zoe Salzman, representing Rybolovlev, argued that Sotheby’s was complicit in the alleged fraud, with Chairman Samuel Valette being “in on the con.” She highlighted the lack of oversight and enforcement of internal regulations at Sotheby’s. She emphasized the importance of transparency in the art market and urged the jury to hold Sotheby’s accountable.
In response, Marcus Asner, representing Sotheby’s, contended that Rybolovlev’s reliance on Bouvier was unreasonable, absolving the auction house of any wrongdoing. He argued that Sotheby’s had no knowledge of Bouvier’s deceptive practices and made no profit from his resales. Asner challenged the plaintiff’s assertions and urged the jury to consider the lack of evidence implicating Sotheby’s in the alleged fraud.
The jury will soon deliberate on the case, with Judge Jesse Furman providing instructions. The art world awaits the verdict with anticipation.
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Cillian O’Rourke, studied at the National College of Art and Design in Dublin, Ireland, where he majored in Visual Communication. His work spans graphic design, illustration, and branding, with a distinct minimalist style that emphasizes simplicity and impact. Cillian has collaborated with international brands and runs his own design studio focusing on creative solutions for startups.