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The auctioneers netted £10.5m from their Maddox Street saleroom, but a further £6.2m came from their Manhattan rooms despite only staging their inaugural sale on September 26.

Their Rome auction house contributed £3.7m to the bottom line.

Although prints, works on paper, and modern and contemporary art have become an increasingly important part of their portfolio, managing director Rupert Powell said that books accounted for 65 per cent of the turnover.

For 2008, Bloomsbury Auctions will be launching a photography department and have appointed Zoe Bingham as a full-time specialist. She was previously manager at The Photographers’ Gallery and gallery manager for Atlas Gallery, specialising in vintage prints and travel photography.

Bloomsbury’s first auction of photographs under Zoe Bingham is on May 22.