Rybolovlev has lost more than $120 million in the sale of paintings by Picasso and Gauguin

Rybolovlev has lost more than $120 million in the sale of paintings by Picasso and Gauguin

On the eve of the Russian billionaire and former co-owner of Uralkali Dmitry Rybolovlev put up for auction at Christie’s in London for a few masterpieces from his collection, including paintings by Pablo Picasso, Paul Gauguin and Magritte. Bloomberg data show that when they are selling it lost more than $120 million (almost RUB 7 billion).

So, the picture of Gauguin’s “House,” written in 1892, was sold for $25 million including Commission, Christie’s. He Rybolovlev in 2008, bought it for $85 million to the Work of Picasso “Flute player and Nude woman”, Rybolovlev acquired for $35 million in 2010, went under the hammer for $5.7 million Magritte Painting “the Area He” bought for $12.7 million, while billionaire gave $43.5 million

Painting Paul Gauguin’s “House” (La maison) Photo: Christies

At the auction were also exhibited statue of Auguste Rodin’s “the Kiss”, for which Rybolovlev paid $10.4 million in 2011, but buyers are not found. Another picture from the collection of a billionaire, the work of Mark Rothko, will be offered for auction on 7 March.

As Bloomberg reported earlier, Rybolovlev has already lost more than $100 million in the sale of the Gauguin painting, “Otachi one”, Gustav Klimt’s “Water serpents II” and Rodin’s sculpture “Eternal spring”.

All these works of art were bought by Rybolovlev with the mediation of the Swiss art dealer Yves Bouvier. As Bloomberg reported on the results of its own investigation, in total, the billionaire acquired from Bouvier works of art at $2 billion In early 2015 Rybolovlev went to the police, stating that I overpaid for paintings of about $1 billion due to the fact that the art dealer was tricked. Bouvier was charged with fraud and complicity in money laundering. However, he was released on bail of €10 million.

The Painting Of René Magritte “The Area Of Arnheim” Photo: Christies

In the ranking of Forbes 2016 Dmitry Rybolovlev took 12 th place with a fortune of $7.7 billion capital of the Russian real-time magazine estimates at $7.3 billion.