Bonhams Moves to Prestigious New Premises in the Heart of Manhattan

International fine art auction house, Bonhams, is moving to prestigious new premises in the heart of Manhattan in New York, the world’s foremost art market.

The company’s relocation will give it spectacular exhibition space in a prime location and will again raise its international profile in line with its ambitions to further develop its challenge for the top end of the art-auction business.

CEO Malcolm Barber, said: “This is a substantial investment in New York, the most important art market in the world. The new premises will allow us to hold a full programme of sales throughout the year in a wonderful environment.”

man.jpgBonhams’ new saleroom is at the well-situated IBM building on the corner of 57th Street and Madison Avenue – formerly the home of the respected Dahesh Museum.

The premises has extensive street frontage and occupies three storeys. The move expands Bonhams presence in New York fivefold.

Mr Barber continued: “We are delighted to take on a building that offers our clients superb facilities to display their artworks and allows our customers to view sales in such a beautiful space.”

The announcement of the move comes in the week that the company posted record results and profits for 2007, with global sales at $600 million.

Chairman Robert Brooks said: “Our sales and profits are at an all-time high. Our move to the former Dahesh Museum offers us the perfect platform to develop further our presence in the crucial New York market.”