International auction house Bonhams, which frequently puts classic motorcycle and car collections under the hammer at various locations worldwide, has been acquired by London-based private equity group Epiris for an undisclosed sum.
One of the oldest auctioneers in the business, Bonhams was founded in 1793. It now has seven salerooms and holds more than 250 sales annually, shifting about £450m-worth of art and artefacts last year. However, it’s a relative minnow compared with big fish like Christie’s and Sotheby’s — and no doubt the new proprietor will seek radically to improve market share at their expense.
Commenting on the deal, Bonhams chief executive Matthew Girling said: “We are delighted to have found a buyer that recognises the potential offered by this business and its employees. During the past 20 years we have pursued a growth strategy that has turned the company into a truly global organisation.”
Girling will remain at the helm but former Sotheby’s chief operating officer Bruno Vinciguerra will join the company as executive chairman at the behest of Epiris.