Since 2015, Russian billionaire Dmitry Rybolovlev has been advocating for charges against Swiss businessman Yves Bouvier, accusing him of art fraud totaling $1 billion. A case against Bouvier dismissed late last year has now been appealed, with a criminal investigation to resume in Geneva.
A Philippe watch sold for $24 million in Geneva in 2014, but the auction climate 5 years later may not be as conducive to record-breaking timepiece sales.