29 May, 2018

Bonhams up For Sale? Again?

There has been some news making ground in the auction world and it's not the million-pound whisky that was recently sold at auction becoming the most expensive of its kind.

It's actually concerning one of the 'Big Four' of the auction world of which is comprised of Sotheby's, Christie's, Phillips and Bonhams. 

Bonhams, (who sold the one-million-pound whisky) are reportedly exploring the idea of selling the company. Now owned by Richard Brooks and the Louwans Family since 2000, they have called in NM Rothschild to assist.

This is not the first time that the 225-year-old auction house has explored the prospect of being sold. Back in 2014, Greenhill investment bank was drafted in to help facilitate in getting the auction house sold. 

This came at a time where Bonhams were experiencing strong sales which culminated into a value said to be in the "several hundreds of millions". 

Despite interest from a host of firms including private equity firms such as CVC capital and Bridgepoint, no deal was agreed. 

With no confirmation on these rumours from either party, in time the true nature of these reportings will be revealed.

The Future of Bonhams