AuctionsJun 23, 2022
Auction House Freeman’s Appoints First Rep in Florida AuctionsJun 29, 2022
Bonhams Expands Again with Purchase of Paris Auction House
It is the fifth acquisition under the ownership of private equity firm Epiris, which bought Bonhams in 2018.
The inside of Cornette de Saint Cyr auction house in Paris. Bonhams just bought the company, marking its fourth acquisition of 2022 and its fifth since being purchased by a private equity firm in 2018. (© Fatima Jellaoui)
London—Bonhams has acquired another auction house, this time picking up Paris-based Cornette de Saint Cyr.
Financial terms of the deal were not disclosed.
Pierre Cornette de Saint Cyr established the auction house that bears his name in 1973.
Today, his sons Arnaud Cornette de Saint Cyr and Bertrand Cornette de Saint Cyr run the business as CEO and head of valuations and collections, respectively.
Bonhams said Arnaud and Bertrand will remain with the company after the acquisition, and the auction house will operate as Bonhams Cornette de Saint Cyr.
The acquisition of Cornette de Saint Cyr gives Bonhams a second location in Paris in addition to the salesroom it opened in September 2021, and more of a foothold in Europe. In addition to its flagship on Avenue Hoche in Paris, Cornette de Saint Cyr has a saleroom in Brussels, Belgium.
Bonhams CEO Bruno Vinciguerra said the acquisition is part of the company’s strategy to develop into a global player with a balanced presence across the United States, Europe, and Asia.
Arnaud remarked on the “wonderful synergy” between Bonhams and his family’s business.
“This new adventure will help the auction house my father founded go from strength to strength,” he said.
“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.”
Cornette de Saint Cyr has 16 departments including Jewelry and Collection Clocks, Haute-Couture, Comics & Illustrations, Books & Manuscripts, and Natural History.
It is known for its high-profile single-owner sales, including Alain Delon’s abstract art (2007); the estate of the Franco-Japanese painter Foujita (2011); furniture and fittings from the Hotel Royal Monceau (2008); and the couture collection belonging to Hélène Rochas, the former CEO of French fashion house Rochas. (2016).
In October, the auction house is slated to sell Asian art from the personal collections of members of the Rousset family.
The purchase of Cornette de Saint Cyr marks Bonhams fourth acquisition this year and fifth since U.K. private equity firm Epiris bought it in 2018.
Bonhams bought Stockholm-based Bukowskis, an auction house that dates to 1870, in January, as well as Boston-based Skinner, and Bruun Rasmussen in Denmark in the same week in March.
Prior to that, Bonhams picked up The Market, an online platform for classic cars and motorcycles, in April 2021.
“This acquisition represents a huge step forward for our ambitions in an important market and cements Bonhams’ position as the world’s leading core-market auction house,” Epiris partner Alex Fortescue said of the purchase of Cornette de Saint Cyr.
“Well-planned and well-executed mergers and acquisitions are a key part of our strategy to add scale, strategic position, and growth to the companies that Epiris invests in. Bonhams really embodies this.”
More on Auctions
The Latest
GradingMay 26, 2023
State of the Diamond Industry: AI and the Future of Diamond GradingGemologists have long used machines in diamond grading but technology has made it possible for them to “learn” how to do it on their own.
Recorded WebinarsMay 26, 2023
Watch: Diamond Cut Quality: The Final Frontier Part 2Supplier Spotlight Sponsored by IGI
Recorded WebinarsMay 26, 2023
Natural and Lab-Grown Diamonds: What It’s Like to Sell Both Watch retailers Jeffery Bolling and Bobby Bengivengo discuss employee training, customer education and the sticky subject of future value.
Brought to you by
The Next Step for GIA Diamond ReportsThe most trusted diamond report, available in print or the GIA App.
FinancialsMay 26, 2023
Movado Sales Slip in Q1 Amid Inflation Woes, Tough CompsThe company has plans to revamp the Movado brand and offer less expensive watches this year.
Weekly QuizMay 25, 2023
This Week’s QuizTest your jewelry news knowledge with this short test.
Supplier BulletinMay 25, 2023
RAE Fine Jewelry Collection Debuting at JCK Luxury 2023Sponsored by Noam Carver
TechnologyMay 25, 2023
State of Retail: Why Jewelers Need to Invest in Cybersecurity NowAs cybercrime incidents threaten the industry, jewelers need to know what they’re up against and the best ways to protect their businesses.
Brought to you by
Beyond Borders: Crucial Factors in Colored Stone Origin DeterminationNavigate origin determination with Continuing Education seminars offered by the GIA Alumni Collective™.
IndependentsMay 25, 2023
Louis Anthony Jewelers Is Remodeling and ExpandingThe Pittsburgh jeweler is redoing the lighting and showcases, and adding a full hospitality bar as well as new shop-in-shops.
SourcingMay 25, 2023
David Yurman Unveils Quartz Exhibition at AMNH The Yurman Family Crystalline Pass is inside the museum’s brand-new Richard Gilder Center.
MajorsMay 25, 2023
Stanley Zale Joins Hill & Co. as Principal Consultant Zale has more than 40 years’ experience in the diamond industry, including 17 years as Stuller’s VP of diamonds and gemstones procurement.
Events & AwardsMay 24, 2023
New To-Dos in Las Vegas During Jewelry Market Week 2023The Strip is full of new restaurant and entertainment offerings.
TrendsMay 24, 2023
State of Design: The Jewelry Design Trends to Know NowNational Jeweler’s senior editor covering fashion, trends, and design highlights the latest looks in the market.
EditorsMay 24, 2023
How Jewelers Can Make the Most of ChatGPTFrom what ChatGPT is to how to use it, this is the explainer tailored to jewelers.
ColumnistsMay 23, 2023
Squirrel Spotting: The Case of the Pricey Repair When it comes to pricing jewelry repairs, you should start by asking a simple question about the piece at hand, Peter Smith writes.
IndependentsMay 23, 2023
Pat Henneberry Joins VeerThe industry veteran will serve as the diamond jewelry supplier’s head of business development.
MajorsMay 23, 2023
Bruce Rubin Joins Frederick GoldmanHe is the company’s new senior vice president of sales and business development.
MajorsMay 23, 2023
New Approach School for Jewelers Announces Gemvision PartnershipThe Tennessee school’s CAD Academy is now offering training in Gemvision’s MatrixGold software.
GradingMay 22, 2023
Blackstone Officially Inks Deal to Acquire IGIBlackstone is buying the 80 percent stake in the lab owned by a Chinese company as well as the 20 percent held by the Lorie family.
SourcingMay 22, 2023
State of the Colored Stone Market: Dropping Some Valuable GemsIn a collection of Q&As, key players give insight on supply, demand, the importance of origin, and whether the “Color of the Year” matters.
SourcingMay 22, 2023
De Beers Consolidates Auctions as Diamond Sales Lose Steam The company confirmed it will be combining the auctions for the fifth and sixth sales cycles into one.
MajorsMay 22, 2023
Stuller Promotes Four Employees Amid Organizational UpdateAmong other changes, Stanley Zale, the former vice president of diamonds and gemstones, is leaving the company after 17 years.
MajorsMay 22, 2023
AGS Confirms Members of 2023-2024 Board of DirectorsOne new addition was announced at the Conclave membership breakfast.
AuctionsMay 19, 2023
It’s a White-Glove Sale for JAR Jewels at Christie’sThe 28-piece collection is the largest to be offered at auction.
GradingMay 19, 2023
Report: Blackstone to Buy IGI for Up to $550MThe deal could be signed as early as this weekend, according to a report by The Economic Times.
CollectionsMay 19, 2023
Piece of the Week: Marie Lichtenberg’s ‘Check’ LocketIt’s an ultra-luxurious version of the designer’s signature style.
Recorded WebinarsMay 19, 2023
Watch: Tips on Preparing and Packing for Las VegasFour guests join Michelle Graff and Amanda Gizzi to discuss the importance of being organized and what shoes they wear at the shows.
