Bonhams accelerates its European expansion with the purchase of a French auction house

Bruno Vinciguerra, CEO of Bonhams, and Arnaud Cornette, CEO of Cornette de Saint Cyr. Photo: Fatima Jellaoui.

So far in 2022, Bonhams has bought Danish auction house Bruun Rasmussen, American company Skinner and Swedish company Bukowskis.

Bonhams was acquired by the Epiris investment fund in 2018 and has since pursued an active acquisition policy, in particular by expanding into new territories. Last year, it opened its first auction house in Paris. It also bought The Market, a digital auction platform for classic and collectible 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 called Bonhams Cornette de Saint Cyr.

Cornette de Saint-Cyr Paris

The Cornette de Saint Cyr auction room on avenue Hoche in Paris. Photo: Fatima Jellaoui.

Cornette de Saint Cyr was founded in 1973 by Pierre Cornette de Saint Cyr. His sons, Arnaud, CEO, and Bertrand, head of appraisals and collections, remain with the firm.

Based on avenue Hoche in Paris, the company also has another sales room in Brussels, on chaussée de Charleroi.

Cornette de Saint Cyr in Brussels

Auction room of Cornette de Saint Cyr in Brussels, Chaussée de Charleroi. Photo: Fatima Jellaoui.

Bruno Vinciguerra, CEO of Bonhams, said: “Cornette de Saint Cyr is one of the best-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… It is an important part of our strategy to continue to develop Bonhams into a truly global player with a balanced presence. in the United States, Europe and Asia.

Arnaud Cornette de Saint Cyr, Managing Director of Cornette de Saint Cyr, said: “There is tremendous synergy between Bonhams and Cornette de Saint Cyr, especially in the way both companies put the customer at the center of everything. This new adventure will enable the auction house founded by my father to grow stronger. We are very proud of what we have achieved and look forward to working with Bonhams to further our goals and 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 in Europe.