In 1973, the art dealer Pierre Cornette de Saint Cyr founded an auction house in Paris, which is now run by his sons Arnaud (CEO) and Bertrand, Head of Valuations and Collections, who have since carried forward the company with their father's spirit.
On Tuesday, the London-based auction house Bonhams announced that it would take over the long-established company based on Avenue Hoche in Paris. After the auction houses Bukowskis (Sweden), Skinner (USA) and Bruun Rasmussen (Denmark), Cornette de Saint Cyr is now the fourth auctioneer of art and antiques to become part of the new Bonhams family.
See also: Bonhams Acquires Bukowskis
"Cornette de Saint Cyr is one of the most-loved auction houses in France. As with Bonhams, it is rooted in a family tradition – and we are delighted that Arnaud Cornette de Saint Cyr will remain as CEO. Like his father before him, Arnaud has developed a company to which some of the most renowned names in France have entrusted their collections. Bonhams' acquisition of such a celebrated auction house is an important part of our strategy to further the development of Bonhams into a truly global player with a balanced presence across the US, Europe and Asia", said Bruno Vinciguerra, Bonhams' CEO, in a press release shedding light on the reasons for Bonhams' acquisition and its future steps.
Bonhams was founded in London in 1793 and is now the third-largest art auction house in the world after Sotheby's and Christie's. In addition to its headquarters in London, Bonhams has additional offices and representative offices in 18 countries worldwide, including the USA, China, Germany, Italy, South Africa, Australia and France.
See also: 7 Paintings of London You Should Know
"There is a wonderful synergy between Bonhams and Cornette de Saint Cyr, particularly in the way in which both companies put the client at the centre of everything. This new adventure will help the auction house my father founded go from strength to strength. We are very proud of what we have achieved and much look forward to working with Bonhams to further our goals and our international reach", explained Arnaud Cornette de Saint Cyr on his thoughts on the takeover.
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