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New recruits Meg Randell and Winnie McGee join from Chiswick Auctions and will hold sales in Bonhams’ Knightsbridge saleroom.

Under Randell, who is head of department, it will hold four sales a year offering 200-300 lots. Two will be live auctions, taking place on April 22 and September 23, and the other two will be online-only sales.

Luxury goods boom

According to GlobalData, the pre-owned luxury goods market was valued at $24bn in 2018 and is predicted to be worth $51bn by 2023.

Bonhams’ handbag and fashion auctions will comprise pre-owned and vintage handbags, costume jewellery, luggage and fashion items from brands such as Chanel, Christian Dior, Gucci, Louis Vuitton and Prada.

Jon Baddeley, managing di rector of Bonhams Knightsbridge, said: “This venture will complement our other luxury departments, including watches and jewellery.”

Bonhams was bought by private equity group Epiris in 2018 and has been evolving its business to a more digital focus.

Last year Bonhams agreed to offer its auctions via online marketplaces including thesaleroom.com and lot-tissimo.com (both owned by ATG parent company Auction Technology Group).