Better Bonhams

NEW YORK—Bonhams—long in the shadow of its larger rivals, Christie’s and Sotheby’s—is finally coming into the light. Previously based just in London and California (where it’s called Bonhams & Butterfields), the firm now has outposts in Monaco, Dubai and New York, where it takes over new digs this month.

Bonhams is moving from its 5,300-square-foot headquarters in the Fuller Building at 57th Street and Madison Avenue. “We always thought the Fuller space would be temporary and a stepping stone for a larger presence,” says Jon King, vice president and director of Bonhams New York. “We reached that end much quicker than we thought, and for the last year and a half, I’ve been looking at real estate all over town.” He ended up just across the street, in the three-story, street-level venue vacated in September by the Dahesh Museum of Art.

The New York architectural firm Milo Kleinberg Design Associates reconfigured the 27,300-square-foot space, which has moveable walls to accommodate sales and shows. “We want to be able to have more than one auction occurring at a time,” explains King, adding that the adjacent IBM atrium might be used for previewing larger works. Outside, the building features a highly visible storefront entrance with banners advertising upcoming sales.

The New York office is also tripling the size of its staff. One addition will be Bonhams CEO Malcolm Barber, who is relocating from San Francisco just in time for the debut April sales. First, on the 22nd, comes jewelry, featuring a Belle Époque diamond tiara, circa 1905 (est. $200–300,000), and then, on the 23rd, an auction of 18th- to 20th-century European paintings. King expects New York sales to double within the first year in the new space, adding to the overall growth of the firm, which in 2007 had record profits of $600 million.

"Better Bonhams" originally appeared in the April 2008 issue of Art+Auction. For a complete list of articles from this issue available on ARTINFO, see Art+Auction's April 2008 Table of Contents.