Art-дилер Yves Bouvier told about the damages after claims Rybolovlev
ARTinvestment.RU   13 февраля 2017

Last week Bloomberg published an article entitled "What is lost art-король Geneva in the battle with the Russian billionaire." And the truth is, she left with more questions than answers. One thing is clear: the regular courts have great exhausted Bouvier

Yves Bouvier we remember as the organizer of a very successful first Salons of fine arts in Russia in the mid-2000-х. He was brought to Moscow the best galleries of the world with the masterpieces of Francis bacon, Chagall, de staël, Jawlensky, etc. Then it was top class, and the level of representativeness of its Salons and remains unsurpassed. Later, the entrepreneur focused on opening duty-free stores around the world. And soon the breed became known as the "king of Freeport". His fame and influence grew rapidly until two years ago, "king Freeport" declared war "potash king" — billionaire of Russian origin Dmitry Rybolovlev.

the history of the conflict is widely known, so I will repeat only in General terms. Bouvier for several years and sold Rybolovlev masterpieces of painting of the first global names — Modigliani, Picasso, Monet, Leonardo and even. — a total of about 40 works. A few years between buyer and seller was a complete business understanding, even something more. Bouvier even started training 600-страничного directory as a surprise to the best customers, to celebrate an important stage in the formation of the outstanding collection. But suddenly the sound of thunder. Rybolovlev accidentally found out that his dealer has not only earned the Commission, but laid an additional profit of rates. "Potash king" what-то way estimated that as a result of unfair actions of the dealer he overpaid for the art of about a billion dollars. As a result, in 2015, the venerable entrepreneur Yves Bouvier, was arrested in Monaco next to the mansion of tycoon on suspicion of fraud.

It was eventually released. But Rybolovlev is not stopped and started prosecuting around the world. Bouvier started to pull to testify in Geneva, Monaco, Singapore. Appeared a claim even in the United States. A businessman in the midst of construction of Freeport was arrested the assets and patted nerves. Once he controlled the accounts have been frozen $500 million, and unlock them only five months. Well at least Sam Bowie remains at large. Of course, the whole story has not yet ended, but has already led to great reputational costs, indirect losses and disruption of plans. In particular, the businessman had to delay the opening of the Freeport in Shanghai and much more.

conversation with the representative Bloomberg Bouvier evaluates inflicted on him during these two years the damage at one billion dollars. That is the same amount that the claims Rybolovlev. After this story from Bouvier shy clients. 53-летний dealer explains to Bloomberg: "Now I can't secretly buy the paintings. Before, if I wanted to buy a canvas, people made a deal with me fine. But after this, I became doubly harder to negotiate or people just refusing to work with me, because I'm afraid". In the same Bloomberg are melancholic text quotes art-дилера about the revision of the Outlook on life and people: "I don't know what will going to do in the future" and "the ability to create such a collection is only once in a lifetime". Everything seems to be allegorical, but with great fatigue.

And it feels weird. At the level of sensationsmessage be and there are quotes Bouvier leave more questions than answers. It is understandable that Rybolovlev will most likely be nice to read about the suffering of his opponent in the litigation. Then why Bouvier to talk about their losses and costs? The invitation to reconciliation? Part of the deal for reconciliation? Pat hand on the carpet? Signal that pain reception is successful and the request to loosen the grip? Some questions.

Again, why Bouvier estimates its reputational damage is in a billion? If we are talking only about mediation in lost profits for several years, a billion — is incredibly much. To earn a billion, need to sell paintings on 3-4 billion. And this is wow! Know how much, for example, are the 10 most expensive paintings in the history of the auction? A total of $1.2 billion. Yes, in the world all the auction market — is about $12 billion a year. Dealer — about $40 billion And this momentum. But we're talking about commissions. Strange figure. There is no explanation. There is only a coincidence. The same billion damage imputes Rybolovlev.

Generally, the part looks like Bouvier a few dramatic damage to its reputation. Partners shy away? In-первых, time heals. Shy today, and tomorrow will come or there will be others. In-вторых, and that there was so much shame? The billionaire put an exorbitant price for a unique thing and put your interest over and above the Commission? Not good, but to dealer sin is not great. Forget. And will remember that the art-дилер Bouvier effectively decided a complex and ambitious task: in the shortest possible time for the new rich from Russia without connections in the European art-мире was a collection of world importance. Yeah, could do and cheaper. Theoretically. Nevertheless, the fact that other billionaires took decades, Bouvier staged for what-то a few years. Moreover, since the found art-дилером masterpieces has managed to considerably added in the price. In particular, recently, the same Bloomberg said that one of Klimov (painting, Water Serpents II, 1904-1907) from the collection of Rybolovlev in a private transaction in 2015 (after the first arrest Bouvier) was sold to a Chinese collector for a fantastic $170 million Obviously, not much to its detriment. It is unknown whether the Bouvier found this on Rybolovlev, but he's probably the one.

an Overpayment in superdisco — a philosophical question. Yes, customers are strongly dissatisfied with the price tag. Not only Rybolovlev came to court with the seller. Five years ago in the press was exaggerated the claim for overpayment against the art-дилера Anatoly Bekkerman filed by a Ukrainian collector.

Is almost always bizarre: no one there no one was forced! You need to understand that the end customer is almost always overpays. Just for an auction "overcharged" where-нибудь 30% Commission over and above the already dispersed "hammer". And in private transactions may overpay 50-100% of the purchase prices of the norm there.

How many throws to the purchase price Bouvier? The press wrote about twoillustrative cases. Like "Reclining Nude with blue cushion" Modigliani seller Steven Cohen gave Bouvier for $93.5 million, and he resold it Rybolovlev for $118 million, within reason. Leonardo is more complicated: Bouvier bought the "Savior of the world" from a consortium of dealers for $75-80 million, and resold Rybolovlev for $127.5 million

Yes, dear. But how many people in the world have your Leonardo?

besides, do not forget that the overpayments the client through a-то time begins to earn large on this asset. Of the recent examples — Klimt (see also Klimt) from the collection of Oprah Winfrey. In 2006, at Christie's, the auction of $40-60 million, she bought it for a fantastic $78.5 million "Overpaid" by almost two times. But after 10 years, sold to the Chinese (and Rybolovlev your Klimt) for $150 million and apparently comforted.

meanwhile, the prosecution Yves Bouvier continues. And intuition tells us that junction is still far away.

Sources: bloomberg.com, forbes.ru, artinvestment.ru

What else to read on the topic on AI:
"Rybolovlev vs Bouvier" entered the top art-скандалов 2015;
The case of Swiss art-дилера Yves Bouvier — now in the American court;
Oprah Winfrey earned on your Climte $62 000 000.



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