Page:2020-07-29 PSI Staff Report - The Art Industry and U.S. Policies that Undermine Sanctions.pdf/49

 '''4. Bonhams'''

Thomas Dodd established Bonhams in London in 1793. In the 1850s, George Bonham formed a partnership with Dodd's successor George Jones, calling the company Jones & Bonham. In 2000, after five generations, the company was re-named Bonhams & Brooks following its acquisition by Brooks auction house. Shortly thereafter in 2001, Brooks acquired the British operations of its rival company Phillips. A year later, Bonhams acquired the American auction house Butterfields, further expanding its global reach. In September 2018, the private equity firm Epiris purchased Bonhams for an undisclosed amount. Bonhams "sells more jewelry lots per year than any other international house," making up more than 40 percent of the company's sales. Outside of jewelry, Bonhams specializes in low to mid-range art and antiquities as well as classic cars. The company holds more than 250 sales each year at auction venues around the world including Edinburgh, Hong Kong, London, New York, and Sydney.

5. Online Auctions during the COVID-19 Pandemic

In March 2020, the United States took steps to respond to the COVID-19 pandemic with a number of jurisdictions issuing stay-at-home orders to prevent the spread of the virus. Sotheby's, Christie's, and Phillips shifted to online auction formats as in-person events were cancelled. To simulate an in-person auction experience, Sotheby's filmed their auctioneer "facing a fleet of television screens so