Bouvier’s Emails Seem to Undermine Dealer Claims

Geneva’s Le Temps has received emails between Dimtri Rybolovlev’s representatives and Yves Bouvier—one presumes it was Rybolovlev’s team that made them available to the newspaper—that would seem to undercut Bouvier’s position that he was not acting as Rybolovlev’s agent and that the invoices for 2% of the purchase price were not to cover out-of-pocket transaction related expenses:

Obtained by The Times , several documents in the file shed some light on this part of legal poker. And confirm that the complainants have a strong hand. First element: an exchange of messages between Yves Bouvier and Mikhail Sazonov, the businessman Dmitry Rybolovlev of, about buying a Picasso masterpiece of 1899, Sister of the artist , an oil on canvas 151 centimeters per meter.

April 1, 2008, Yves Bouvier wrote: “Hi Mike […] following the interview with Dimitri in Paris, I start trading. The budget will be about 40 million. I hope to reach a little less, but if I get to 40, it is already an exceptional case […]. Thank you to tell me what are your short-term cash flow capabilities. “Mikhail Sazonov replied that it should be possible to release the money at the end of the month.

April 3, Yves Bouvier continues: “Hi Mike […] I negotiated hard. Today, after a long and difficult negotiation, I’m 42.’ […] Then, having apparently obtained the agreement of Dmitry Rybolovlev, inquires April 7 on the progress of negotiations, “Dear Yves, so it worked?” Answer Yves Bouvier, “Yes, I managed to the crack to 37.5 with a payment to the end of April. ”

On April 24, the Russian clan bought the painting for 37.5 million euros, paid into the account of the company Yves Bouvier, MEI Invest. The same day, the Genevan address one last email to Mikhail Sazonov. Its header is no mystery: “Commissions”. “Hello Mike, in response to our conversation today, thank you to transfer the sum of 775 000 euros,” writes Yves Bouvier, who joins the details of his personal account at Dresdner Private Banking in Geneva. The sum equal to 2% of the sale price.

Bouvier: pieces that embarrass  (LeTemps.ch)