In any other industry, that money would be protected, but not in our market. It has been a graveyard for a lot of auction businesses." In 2017, Bonhams sold more than 50,000 lots, generating more than £450 million ($580 million) in sales.Brooks, a former Christie’s director, first purchased Bonhams“Bonhams is one of the world’s oldest auctioneers—and one of the most ambitious,” said Girling in a statement. The auction house was first reported to be up for sale earlier this year. Bonhams, the 225-year-old action house that specializes in jewelry, art, and antiques, has been acquired by British private equity firm Epiris Fund II.Bonhams, based in London, is currently owned by two private shareholders, Robert Brooks and Evert Louwman. Brooks, who created the new-look Bonhams in 2000 after engineering a merger of the auction house with his own business, wants to change that and is not afraid to say so. I wish it didn't exist," says the former motor racing driver who will celebrate his 53rd birthday this week.
Evert Louwman (NL) Peter Mullin (US) Ralph Lauren (US) Arturo Keller (US) Larry Auriana (US) Samuel Robson Walton (US) Albert Spiess (CH) Anthony Wang (US) For more information on the top 10, please visit the The Classic Car Trust website. "I hate the word third.
The auction house decided in 2004 to place all sales proceeds for clients in a trust account, a radical step in an industry where sales proceeds are habitually used to boost cash flows and only returned to clients after a month or more.
"New York is vibrant but it is also very conservative.
Bruno Vinciguerra will join the management team as executive chairman. Mergers, takeovers, private fundraisings and flotations are all candidates for Brooks' to-do list over the next few years. Meanwhile, in the impressionist and contemporary art markets – among the hardest-hit parts of the industry but also among its biggest money spinners – Bonhams remains well short of its rivals. Wealth-X’s Custom Research Team executed a luxury marketing project with The Classic Car Trust to provide insights into the world of classic car collectors and the wealth that they hold. Quote 500-lid Evert Louwman rijdt Porsche 251 zijn museum binnen. Vinciguerra is steeped in the world of auctions. "It's a vibrant time in the market place because times are tough." They failed, and the new company, called Brooks and specialising in classic cars, was born, funded largely by the wealthy Dutchman Evert Louwman, … Home to the private collector Evert Louwman’s (now you know where the museum gets its name) extensive range of over 230 historic cars, it is like a shrine for the automobile enthusiasts.
The auction house's revenues are a fraction of Sotheby's and Christie's and, while Bonhams' rivals ply their trade at the top end of the market, Bonhams' strength is seen to be its mid-market credentials.
"People want to talk to us," he says, whether about potential takeovers or other deals. Sotheby's saw operating revenues fall 51pc in the first six months of 2009, but Brooks claims Bonhams has fared comfortably better.
Formerly the Chief Operating Officer of Sotheby's, Vinciguerra joined Bonhams as Executive Chairman, after the private equity company Epiris acquired the auction house from Robert Brooks and Evert Louwman in … "I never close my mind to the idea of a merger either," he adds. Despite that growth, Bonhams has much to do for Brooks to realise his ambitions. In the US, which accounts for 50pc of the global market, Bonhams remains some way short of its targets. By submitting your information, you agree to the 2019 © Reed Exhibitions. Our numbers are off a lot less than 50pc and I hope to be tracking last year's sales by the end of 2009." The world of classic cars represents a multi-billion dollar market.
Brooks, who is estimated to be worth £84m, gave up motor-racing at the age of 19 to become Christie's youngest post-war auctioneer. The auctioneer is currently headed by CEO Matthew Girling and chief financial officer Jonathan Fairhurst. The 220-year-old firm, jointly owned by former motor racing driver Robert Brooks and Dutchman Evert Louwman, is said to have appointed investment …
"There are so many opportunities out there," he says. – and seen talks to bring in outside investors 18 months' ago hit by the financial crisis – "We'll keep that one on the slow burner". "The big gap between us and Sotheby's and Christie's is in contemporary and impressionist paintings," he says.
"It is important that we focus on the dangers out there," Brooks says. "We're keen to grow in those areas, but the flipside is that, because they represent a small part of our business, we don't rely on them," he says.
"The last dragon that we slay will be the top end of the impressionist market.
Being involved in the more stable areas is good news for us." Against that backdrop, Brooks is considering potential acquisitions, having shelved plans for a flotation – "Never say never, but what would I do after that?
The Dutch family-owned Louwman Group, of which the origins date back 90 years, consists of import companies for the Toyota, Lexus, Morgan and Suzuki car brands, the latter including motorcycles and outboard marine engines.
"We are in a very positive cash position with no debt on our balance sheet and I feel we ought to be growing." Sitting in the boardroom of Bonhams' headquarters on London's New Bond Street, Brooks, ever the charming and well-spoken salesman, claims the company's financial position is opening doors. He went on to start up his own auction business with the backing of Evert Louwman, a Dutch businessman.
Nevertheless, Brooks knows that, if he is to realise his ambitions, Bonhams must match its rivals across the board. Financial terms were not disclosed.The auction house was first reported to be up for sale The auctioneer is currently headed by CEO Matthew Girling and chief financial officer Jonathan Fairhurst.
This content is imported from Twitter. "We're not having the most stellar of years, far from it," Brooks admits.
"There is a lot of pressure on those markets and we're seeing galleries and auction houses going out of business. The Louwman Group is one of the largest automotive distributors in Europe and also active in the mobility aids industry. Use of this website is subject to its