British Auction Firm Bonhams Has New Owner, Eyes Expansion Into US
By Joshua McMorrow-Hernandez, Editor Bonhams, the famous British auction house known for selling high-end collectibles, has been bought by private equity partnership Epiris. Bonhams, founded in 1793, is one of the world's largest and oldest auction companies dealing in arts and antiques, and also sells many coins and other numismatic items. While financial details of the deal between Bonhams and Epiris have not been disclosed, some within the industry believe the transaction closed at about two-thirds of the £300 million ($390 million USD) the auction firm originally sought. The buyout offers mutual benefits, with Epiris facing much-needed success in acquiring [...]