Art market transparency (ctd.)

February 8 2017

Image of Art market transparency (ctd.)

Picture: Bloomberg

Poor old Yves Bouvier! The art dealer and free port owner, who allegedly made about $50m in less than a day by 'flipping' Leonardo's Salvator Mundi to his client (the Russian collector Dmitry Rybolovlev) says nobody takes him seriously any more. Bloomberg has an interview with him:

Bouvier says there was no broker-client relationship between the two men and that Rybolovlev was merely a good repeat customer who willingly paid top dollar. Bouvier says that as a result of the hit to his reputation he’s foregone “many hundreds of millions of dollars” in revenue from art deals in each of the past two years as his networks dried up, leaving him with "insignificant" revenue from dealing art.

“Today, I can no longer discreetly buy a painting,” said Bouvier, 53, dressed in jeans and a blue-and-gray merino wool hoodie, after tucking into a lunch of leeks, steak tenderloin and fries at Geneva’s Hotel Kempinski. “Before, if I wanted to buy a canvas, people dealt with me normally. Now, after what’s happened, they’re twice as difficult to negotiate with or they don’t even want to negotiate with me because they’re afraid.”

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