Russian Billionaire Wins $2.6M Claim Against Christie’s

Tags: Auctions, Christie's, Controversy, Lawsuits, Russian Art

Russian billionaire Viktor Vekselberg won a £1.7M ($2.6M) claim against Christie’s International after a judge ruled in Vekselberg’s favor that a painting he purchased from the auction house was “the work of someone other than” Boris Kustodiev.

“Odalisque” was valued by Christie’s at £180,000 – 200,000 at a 2005 sale, but Vekselberg quickly drove up the price for a work he believed to be by revered Russian artist Kustodiev.

However, a team of experts at Russian museums challenged the work’s authenticity, first raising the issue in November 2006. A judge finally ruled in Vekselberg’s favor, causing Christie’s to release the following statement:

“We are surprised and disappointed by his view of the painting’s attribution. We maintain our belief in the attribution to Kustodiev and are considering our options.”

Vekselberg Wins London Fake-Art Claim Against Christie’s via Bloomberg

Photo courtesy of The Art Newspaper