Phillips Merges with U.K. Auction Firm - Bonhams and Brooks mergers - Brief Article

Art in America, Sept, 2001

Phillips, once the little auction house that could, is growing by leaps and bounds. Owned by LVMH, the conglomerate run by French tycoon Bernard Arnault, Phillips merged earlier this year with de Pury & Luxembourg, an art and antiques dealership based in Geneva. This summer, the British branch of the company announced a merger with the London-based firm Bonhams & Brooks.

Specializing in middle-market items, Bonhams & Brooks was formed last year when car auctioneer Robert Brooks took over Bonhams, a U.K. auction company established in 1793, three years before Phillips was founded. Brooks assumes the position of chairman of the new company to be named Bonhams, while Simon de Pury remains chairman of Phillips de Pury & Luxembourg. Headquartered in London, Bonhams has numerous regional offices and showrooms throughout England and Scotland. It expects to generate some $250-million worth of sales in the coming season, offering stiff competition for Sotheby's and Christie's in the lucrative U.K. auction market.