Editor’s Note
This article explores Switzerland’s vibrant auction scene, from global giants to esteemed local houses, highlighting the nation’s deep-rooted culture of collecting.
Switzerland, a country of collectors. It’s no surprise that the nation is teeming with auction houses. These range from the giants, like Sotheby’s and Christie’s, to more local ones, such as Piguet in Geneva or Koller in Zurich. Somewhere in between: Bonhams, founded in 1793 in London by Thomas Dodd, a renowned antiquarian, and Walter Bonham, a specialist in old books. At the time, the capital was the undeniable hub in this field. The English house expanded its services to all departments—jewelry, porcelain, furniture, armor, wines…—eventually becoming an international group through a series of acquisitions and mergers.
Today, the parent company remains in London. But it has branches on five continents, including in Switzerland where a first office was opened in Geneva in 2013, followed by a second in Zurich in 2015. With its over 60 departments and fourteen salerooms worldwide, it is the only one in its category to be so diversified. As for business, it’s going rather well. Last year, Bonhams reached a turnover of 1 billion dollars, the highest in its entire history! Making it the European leader.
At the end of the first half of 2023, it had already recorded a growth of 32% compared to the previous year. Yet another record. Total sales exceeded 550 million dollars. More than 100,000 lots were dispersed across 585 sales from January to June 2023. Results that Bruno Vinciguerra, CEO since 2018, is not a little proud of:
And if Covid brought its share of vicissitudes, it changed buying habits:
So much so that this type of sale increased by 132% during this same first half.
Formerly the CEO of Sotheby’s in New York before being appointed to Bonhams after the company’s acquisition by the British investment fund Epiris, he remains based in the United States. But we had the privilege of meeting him in Geneva. It must be said that the house is celebrating its 10 years of establishment in Switzerland. Moreover, a new director for the Geneva office also started just this summer. This is Katie Kennedy. With 15 years of experience in the art field, gained at Christie’s, Phillips, and with the Marianne Boesky gallery, where she was the director for Europe, the young woman is passionate about modern and contemporary art.
According to Bruno Vinciguerra, the strength of the house lies in its niche:
This goes hand in hand with the astonishing diversity of objects going under the hammer:
To fuel this broad spectrum and, at the same time, accelerate its development, Bonhams has made five acquisitions since 2018. Starting with Bukowskis and Bruun-Rasmussen, respectively number one in Sweden and Denmark, followed by the American Skinner, the French Cornette de Saint Cyr, and the online collector car sales specialist, The Market. This last activity embodies another great strength of the British house, particularly in Switzerland. Since 2019, in June, it organizes a major annual car sale at the Château de Bonmont, in addition to sessions in Paris in February and in Knokke-le-Zoute, Belgium, in October.
The first Bonmont Sale had, moreover, allowed Bonhams to secure the world record for a Lamborghini. A Veneno Roadster then reached 8.28 million Swiss francs. And last August, at Quail in the United States, a 1967 Ferrari 412P Berlinetta soared to over 30 million dollars!
But for now, it’s time for the Geneva festivities. To celebrate its ten years in Switzerland, Bonhams will exhibit a selection of key works from its upcoming sales in New York, London, and Paris. Meet on October 4th at 10, rue Étienne Dumont. Among the favorites: a gouache by René Magritte, “Plante avec fleur et feuilles,” from 1946, estimated between 100,000 and 150,000 dollars, and an oil on canvas by Franz Kline, “Untitled,” painted in 1950 (estimate: 350,000 – 550,000 dollars).