Auction house Bonhams is up for sale by its private equity owner Epiris, according to a report in Bloomberg.
The news service reported that Epiris is working with JPMorgan to sell the London-based business, which is valued at $1 billion. The auction house’s annual sales topped $1 billion last year, Bloomberg said.
The report, which quoted unnamed sources, cautioned that the sale offering may not result in a deal.
Bonhams referred JCK to Epiris, whose spokesperson declined comment.
Epiris bought the 230-year-old auction house in 2018 for an undisclosed sum from two private shareholders, Robert Brooks and Evert Louwman.
Under Epiris’ ownership, Bonhams has made a slew of acquisitions of rivals, including U.S. auction house Skinner; Denmark’s auction leader, Bruun Rasmussen Auctioneers; Swedish house Bukowskis; and French auction house Cornette de Saint Cyr.
Top: Bonhams’ headquarters on New Bond Street in London (Photo courtesy of Bonhams)
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