So far in 2022 Bonhams has bought Danish auction house Bruun Rasmussen, US firm Skinner and Sweden’s Bukowskis.
Bonhams was bought by private equity firm Epiris in 2018 and has adopted an active acquisition policy since then, especially in expanding into new territories. Last year it opened its first saleroom in Paris. It also bought The Market, a digital auction platform for classic and collectable car and motorcycle auctions.
The financial terms of the purchase of Cornette de Saint Cyr have not been disclosed but the French auction house will now be known as Bonhams Cornette de Saint Cyr.
Cornette de Saint Cyr was founded in 1973 by Pierre Cornette de Saint Cyr. His sons, Arnaud, CEO, and Bertrand, head of valuations and collections, remain with the firm.
Based in Avenue Hoche, Paris, the firm also has another saleroom in Brussels on Chaussée de Charleroi.
Bruno Vinciguerra, CEO of Bonhams, said: “Cornette de Saint Cyr is one of the most-loved auction houses in France. As with Bonhams, it is rooted in a family tradition – and we are delighted that Arnaud Cornette de Saint Cyr will remain as CEO… This is an important part of our strategy to further the development of Bonhams into a truly global player with a balanced presence across the US, Europe and Asia.”
Arnaud Cornette de Saint Cyr, Chief Executive of Cornette de Saint Cyr, said: “There is a wonderful synergy between Bonhams and Cornette de Saint Cyr, particularly in the way in which both companies put the client at the centre of everything. This new adventure will help the auction house my father founded go from strength to strength. We are very proud of what we have achieved and much look forward to working with Bonhams to further our goals and our international reach.”
Catherine Yaiche, managing director of Bonhams France, said: “This is an important step in our vision for Bonhams to consolidate its position in France and Europe.”