The season of year-end reports is here, and Bonhams is no exception. The London-based auction house has shared its 2022 turnover at the beginning of 2023, which amounts to one billion dollars. A result it had never seen before.

Although Bonhams did not reach the five million dollar mark for any of its sale in 2022 like its competitors Christie’s, Sotheby’s and Phillips—the leading trio of auction houses—the group was able to benefit from an expansion with four new houses, three of which in Europe. The share of sales in this region of the world thus reached 33%, the same as in the United States.

Bonhams saw its sales increase by 27% compared to the previous year, thanks in particular to an online sales strategy and the arrival of new customers: 52% of buyers were in fact buying from the house for the first time. The company could soon overshadow Phillips, which had sales of $1.3 billion in 2022. This gap is still wide, but could close by 2023.