On Tuesday, contracts between Rybolovlev and companies owned by Bouvier for four initial art purchases were presented to the court. Bouvier presented sales contracts as evidence that he was openly acting as a dealer who owned the art himself.
But Sazonov testified that he did not recognize the names of the various companies, which were located in various places including the British Virgin Islands and Hong Kong, and that he had no idea they were connected to Bouvier. Instead, at the time, he thought they were representing the art owners as a third party, he said.
In subsequent sales facilitated by Bouvier, such contracts were dispensed with, Sazonov said, as Bouvier became a close friend of Rybolovlev and insisted that formal contracts slowed them down in the pursuit of trophy art. As a result, the exact nature of the relationship between them – buyer and seller, or buyer and agent – ​​was never written down. Bouvier would send invoices for the artworks from his own company and Sazonov would pay them. But Sazonov said he assumed all the money was paid to another owner and that Bouvier never got a raise. He said that Bouvier receiving the commission added to the misunderstanding.
Sotheby’s said Rybolovlev, an astute businessman with significant assets, acted unreasonably by relying on what Bouvier was telling him without writing down the terms of their relationship or requesting any documents as proof of the prices Bouvier said he was paying for the piece. Art for him.
Chudovsky, Sotheby’s lawyer, said Monday that Rybolovlev had no basis “to accuse Sam Valette, or anyone else at Sotheby’s, of misconduct by Bouvier.”
On Tuesday, Sazonov described how Bouvier sent notes he received from Valette about works Rybolovlev was buying. In notes, the Sotheby’s expert praised the quality of the artworks or discussed prices, which Sazonov said made him feel comfortable moving forward with deals. He added that he was reassured about the “importance of the painting and its quality that justifies its very high price.”
This trial provides a rare window into the often secret inner workings of the art trade. Rybolovlev attended the proceedings this week, sitting next to his lawyer while listening through an interpreter. His lawyers said he will testify in the trial, which is expected to last about six weeks.