Bonhams in New Bond Street, London.
Excluding its recent acquisitions in 2022, Bonhams sales grew by 20%.
The auction group rapidly expanded last year, buying Scandinavian firm Bukowskis in January 2022 followed by US auction house Skinner and Danish saleroom Bruun Rasmussen in March. It then acquired French firm Cornette de Saint Cyr in June.
Bonhams reported turnover of $552m (£425m) for January-June 2023, a 32% increase on the same period in 2022. It sold more than 100,000 lots across 585 auctions during the first half of 2023 with online sales up by 132%.
Earlier this year (January 2023) it announced its annual turnover had hit $1bn (£840m) for the first time in its history.
Among the highlight sales was Tipu Sultan’s bedchamber sword, its most valuable lot so far this year, which sold for £12m (or £14m including buyer’s premium) in London.
Bruno Vinciguerra, Bonhams’ chief executive officer, said: “Following a breakthrough year for Bonhams in 2022 when the network achieved $1bn turnover for the first time in its history, it is a pleasure to announce such strong results in the first half of 2023. These results confirm the increasing digitisation and globalisation of the art market across all price points, the two forces underpinning Bonhams’ growth strategy.”
Another highlight of 2023 so far was a rare large wood figure of Bodhisattva Guanyin made during the Jin dynasty (1124-1234 AD). It sold for a premium-inclusive €2.56m on June 13 in Paris.
Bonhams first-half 2023 results
In Numbers:
Total sales (turnover): $552m
Number of lots: 100,000-plus
Number of auctions: 585
Increase in new buyers: 45%
Increase in online registrants: 22%
Increase in online sales: 132%
Increase in online bidding: 62%
