Missing Picasso’s Believed to be in Billionaire’s Collection
The long-running mystery surrounding missing artworks by one of the world’s most famous artists has recently, once again, put in an appearance in the media. Spanish painter and sculptor Pablo Picasso’s stepdaughter Catherine Hutin-Blay kept a considerable collection of the artist’s work in a warehouse near Paris, where she believes that some items were stolen. Hutin-Blay further claims that some of the stolen paintings could well have been sold to Russian oligarch and potash mogul Dmitry Rybolovlev.
Hutin-Blay Read About Her Stolen Art in the Paper
The upheaval came about when Catherine Hutin-Blay read a news article about a legal battle between Swiss art dealer Yves Bouvier and Dmitry Ryboloblev. The oligarch is accusing Bouvier of overcharging him for various works of art purchased over a period of ten years. Ryboloblev was also instrumental in the arrest of the art dealer in February. While reading the article Hutin-Blay noticed that some of the artworks mentioned were works that had been stolen from her. Rybolovlev is believed to have spent around US$2 billion on acquiring this part of his collection which includes pieces by da Vinci, Gauguin, Rothko, Matisse, and Picasso.
Bouvier’s Partner Also Arrested
Although there is no indication that Rybolovlev knew that part of his art collection was obtained illegally, it is becoming clear that foul play is likely. A business partner of Bouvier, Olivier Thomas, was arrested on suspicion of theft and transportation of stolen art. Hutin-Blay was told that a preliminary investigation into Thomas for fraud, theft and receiving stolen goods was underway after she filed a legal complaint of theft against persons unknown. Bouvier and Thomas were meant to be storing and transporting art for clients, including Hutin-Blay, through their facility, a bomb-proof warehouse that opened last year. The aim of the storage facility was to provide a safe area for works of art, diamonds and other luxurious and sensitive items.