Skip to main content
Saturday, January 29, 2022
02:08 pm CET
By Ronny Waburek
Saturday, January 29, 2022, 02:08 pm CET
By Ronny Waburek

 

 

 

 

More Global and Digital

Bonhams Swallows Bukowskis

More Global and Digital

Bonhams Swallows Bukowskis

Headquarter of Bonhams

Headquarter of Bonhams

Headquarter of Bonhams

 

Not everything always revolves around China when it comes to acquisitions or staff expansion: Becoming stronger in Northern Europe, being better positioned on the Internet - these are the goals Bonhams is now increasingly pursuing with the purchase of the Scandinavian auction house Bukowskis. Bonhams did not announce the purchase price. What is known, however, is that the managing director of Bukowskis, Louise Arén, will remain in office. In addition, the company will continue to operate under the Bukowskis name. Founded in 1870, Bukowskis employs around 100 people and has been owned by the Lundin family, one of Sweden's richest families, in 2007. In 2020, the company's sales were SEK 228 million, with pre-tax profits of SEK 34 million. Last year, these figures are said to have improved.

Luise Arén explains that Bukowskis has become an industry leader in digital transformation. Alex Fortescue, managing partner at Epiris, said they want to make Bonhams a global digital auction house. The acquisition of Bukowski is an important step toward that goal, he said.

In fact, the acquisition fits well with the auction house's development trajectory so far: since Bonhams was acquired by private equity firm Epiris in 2018, it has stepped up efforts to keep up with global competition digitally as well. Last year, for example, Bonhams bought The Market, a digital auction platform for classic cars and motorcycles. The auction house also increased its physical presence in Europe: Most recently, Bonhams opened a new salesroom in Paris on Rue de la Paix.