SurveysDec 04, 2024
In-Store Shopping Outpaced Online Over the Holiday Weekend, Says NRF A total of 126 million consumers shopped in stores over the five-day period, about 5 million more than last year.
AuctionsSep 05, 2018
British Private Equity Firm Acquires Bonhams
The news follows speculation earlier this year that the auction house was looking for a buyer.
British private equity firm Epiris announced it has acquired auction house Bonhams. Pictured here is a Harry Winston necklace once belonging to two-time Olympic gold medalist Katherine Domyan. It is among the pieces that will go up on the block at the auction house this fall.
London—Bonhams announced Tuesday it has been acquired by British private equity group Epiris.
Financial terms of the deal were not disclosed.
Epiris Fund II, advised by Epiris LLP, purchased the auction house from private shareholders. A press release said this is the fund’s fourth investment.
Founded in 1793, Bonhams holds more than 250 sales a year at its flagship salerooms in London, New York, Los Angeles and Hong Kong.
CEO Matthew Girling and CFO Jonathan Fairhurst will continue to head the company.
Following the acquisition, Bruno Vinciguerra will join Bonhams as executive chairman. He served as COO at Sotheby’s for eight years and, prior to that, held senior roles at Bain, Dell and Disney.
The news follows speculation earlier this year that Bonhams was looking for a buyer, and in the press release announcing the news, shareholder and Chairman Robert Brooks said they “have always had the intention one day to pass on the business to a new owner who shares our long-term vision for Bonhams.”
The auction house sold more than 50,000 lots in 2017, generating more than £450 million ($576.8 million) in hammer sales.
Jewelry auctions play an integral role in Bonhams’ business, and the company claims to hold more dedicated jewelry sales internationally than any other auction house. Its jewelry division reportedly makes up about 43 percent of the annual market share of auction sales in Britain, according to a March 2017 profile of the auction house by The New York Times.
“We are delighted to have found a buyer that recognizes the potential offered by this business and its employees. Bonhams is one of the world’s oldest auctioneers, and one of the most ambitious,” Girling said.
“During the past 20 years, we have pursued a growth strategy that has turned the company into a truly global organization. The value of Bonhams rests with its people, their skills, their extraordinary expertise and their strong networks across the world. Epiris has a demonstrable and successful track record in investment in growing brands and we believe that together we can continue to expand the business whilst still offering the highest possible level of service wherever we operate.”
More on Auctions
The Latest
Lab-GrownDec 04, 2024
GJEPC Says Indian Trade Will Use FTC-Approved Terminology for Lab-Grown DiamondsThe FTC’s Jewelry Guides require “clear and conspicuous” disclosure when advertising lab-grown diamonds.
SourcingDec 04, 2024
Designer Saul Fraiman Retires After 55 YearsThe fine jewelry designer, who came out of retirement in 2017, is putting down his sketchpad for good.
Brought to you by
Protecting Your Sparkle: Why Screening Has Become Essential While no reputable jeweler would knowingly sell lab-grown stones as natural, it's a growing possibility.
CrimeDec 03, 2024
Man Sentenced to Life in Prison for Murder of Florida JewelerJohn Willard Craiger, 83, fatally shot jeweler Ghazi “Gus” Michel Osta following an argument in the store.
Weekly QuizNov 26, 2024
This Week’s QuizTest your jewelry news knowledge by answering these questions.
ColumnistsDec 03, 2024
Peter Smith: How a Leadership Hire Can Make or Break a CompanyIn his latest column, Smith provides a list of questions every business needs to be asking their next potential leader.
SourcingDec 03, 2024
Gemstone Cutter Glenn Lehrer Dies at 71An innovative artist inspired by the natural world, Lehrer is remembered for being a visionary and a shining light.
Brought to you by
Navigating Cybersecurity: Essential Guidance for JewelersFrom protecting customer data to safeguarding inventory records, it's crucial to learn how to tackle cybersecurity challenges.
WatchesDec 03, 2024
Jaeger-LeCoultre and Vacheron Constantin Appoint New CEOsJérôme Lambert returns as CEO of Jaeger-LeCoultre, while Laurent Perves takes the lead role at Vacheron Constantin.
MajorsDec 03, 2024
Neiman Marcus’ ‘Fantasy Gifts’ Sparkle In Pavé This Holiday SeasonThe extravagant gifts in this year’s “A Neiman’s Fantasy” Holiday Book range from a Messika diamond necklace to pavé diamond cowboy boots.
IndependentsDec 02, 2024
Windsor Jewelry Closing After 105 YearsOwners Greg and Lynn Bires are heading into retirement.
GradingDec 02, 2024
Jewelry Appraiser Craig Lynch Dies at 70The industry veteran is remembered for his faith, his dedication to his family, his wealth of knowledge and his generosity in sharing it.
SurveysDec 02, 2024
10-Year Rewind: Comparing 2024 Holiday Shoppers With the Consumers of 2015PricewaterhouseCoopers’ 2024 holiday trends survey took a 10-year look back to see what mattered to consumers then versus now.
Lab-GrownDec 02, 2024
Lab-Grown Diamond Jewelry Set Sells for $55K at Charity AuctionMonique Lhuillier and Kay Jewelers collaborated to create the pieces, which were offered at the recent Baby2Baby gala.
Policies & IssuesNov 27, 2024
G7 Announces Botswana as Second Verification ‘Node’ for Rough DiamondsBotswana joins Antwerp as a certification center for rough under the G7 ban on Russian diamonds.
SourcingNov 27, 2024
Gemfields Reports 'Disappointing' High-Quality Emerald Auction ResultsThe miner said its November sale, which earned $16.1 million, felt the effect of competitive pricing by a rival Zambian producer.
CollectionsNov 27, 2024
Piece of the Week: Mignon Faget’s ‘Crescent Starry Night’ Tassel EarringsMignon Faget honors its hometown of New Orleans with a piece inspired by “The Crescent City.”
TechnologyNov 27, 2024
Nivoda Secures Additional Funding The London-based business-to-business diamond and gemstone marketplace just closed on a $51 million round of Series C funding.
SourcingNov 26, 2024
De Beers Stays With ‘A Diamond Is Forever’ for 2024 Holiday Campaign“Forever Present” highlights gifting opportunities for natural diamonds, celebrating familial, friendship, and romantic relationships.
ColumnistsNov 26, 2024
The Smart Lab: 7 Strategies for Refining Your Holiday Email Marketing CampaignsSuccessful email marketing campaigns are all about timing, personalization, and compelling CTAs, Emmanuel Raheb writes.
MajorsNov 26, 2024
GIA’s Board of Governors Adds 2 New MembersRetail leader Lisa Bridge and geology professor Dr. Wendy Bohrson joined the organization’s board.
MajorsNov 26, 2024
Ben Bridge Jeweler Unveils This Year’s ‘Benny Bear’ Look out for a black bear wearing a purple Santa hat and its zippered tummy pouch made for holding a holiday gift from Ben Bridge Jeweler.
SourcingNov 25, 2024
William Goldberg Celebrates 2 Major Milestones With New Book“The William Goldberg Way” was released in honor of the company’s 75th anniversary and 25 years of its proprietary Ashoka diamond.
Lab-GrownNov 25, 2024
Lab-Grown Co. Lusix Sold to 2 Companies for $4M Fenix and Dholakia Lab-Grown Diamonds have jointly acquired the Israel-based company, which grows diamonds using solar power.
IndependentsNov 25, 2024
Sophie Bille Brahe Opens First US StoreThe Danish brand has opened an appointment-only location on Madison Avenue in New York City.
Events & AwardsNov 25, 2024
The Original Miami Beach Antique Show Panel to Feature Fred SavageThe actor and watch enthusiast will be part of the show’s education lineup.
EditorsNov 22, 2024
Out & About: Inside the CD Peacock MansionStep inside the nearly 21,000-square-foot suburban Chicago jewelry store with Editor-in-Chief Michelle Graff.
