Bonhams: A Year in Review
2024 in records, results and reflections...
As a stellar year of outstanding results draws to a close, we take a tour around the Bonhams global network to hear from the specialists who brought exceptional objects to market. With records broken, treasures unearthed, and blockbuster crowds welcomed to the galleries and salerooms, an exciting new chapter dawns for Bonhams. As new CEO, Chabi Nouri, takes the helm, we take a look back over 2024 and cast our eyes towards the exciting things to come in 2025.
Andrew Huber, Head of 20 & 21 Century Art
Gracing the cover of our November Evening Sale of 20th & 21st Century Art was the fabulous painting White Primrose by Georgia O'Keeffe. The seller of the work has a deep history with Bonhams, choosing us as an auction partner following years of successful sales from her collection. Consigned early in the fall season, the painting toured the world, including to London and Hong Kong, with much fanfare.
While collectors from Asia, Europe and Latin America clamored for the painting, the hammer came down at $4.4 million to a US based collector, seated in the Bonhams New York sale room, at 580 Madison Avenue.
That was not the only excitement of the night, as a world record price was set for the female Surrealist artist, Gertrude Abercrombie and more than ten bidders fought over Andy Warhol's portrait of Farah Fawcett, achieving $1.5 million, five times over estimate.
"While collectors from Asia, Europe and Latin America clamored for the painting, the hammer came down at $4.4 million to a US based collector"
Oliver White, Head of Islamic Art
There have been many fantastic objects this year, including a sword from the armoury of Tipu Sultan and a beautiful early 17th Century Mughal painting from the Saint Petersburg Album, but the standout lot has to be the Sarghitmish lamp.
My highlight of the year was receiving a photograph from Geneva depicting what purported to be a broken glass vase, used by the owner to contain dried flowers on her hall table. We were able to confirm that it was in fact an extremely rare, enamelled glass Mosque Lamp from Mamluk Egypt, which went on to sell for £5.2 million in our auction.
The history surrounding this piece and its production in the mid-14th Century; its impeccable ownership and exhibition history going back to mid-19th Century Paris; and its beauty and rarity ensured that it was the highest selling Islamic lot in the world this year.
I'm not going to give anything away, but we already have some fantastic pieces lined up for next year's sales. Hopefully we can break some more records and sell the most expensive Islamic lot for a third year in a row!
"the vase was used by the owner to contain dried flowers on her hall table... it sold for £5.2 million at auction"
Marcello Kwan, Head of Modern and Contemporary Art, Asia
One of the most memorable moments this year was the sale of the Kusama Infinity Nets during our Spring auction. It was not only the most expensive item ever sold by the Hong Kong department, but it also achieved the highest price for a Kusama painting in the global auction market in 2024. It was a great honour for me to serve as the auctioneer for such a remarkable lot.
This particular painting had never appeared on the auction market before, and the combination of Kusama’s Infinity Nets and Dots motifs is exceptionally rare. I am thrilled that Bonhams successfully facilitated the sale of this unique piece, showcasing our ability to compete at the highest levels of the market.
I would also like to share a personal aspect of this experience. On the day of the auction, I was suffering from a serious spine condition, which caused intense dizziness. It was a significant moment for me when the hammer came down, marking the successful sale of the lot. Unfortunately, the next day, I was unable to get out of bed and was admitted to hospital. I feared that my career as an auctioneer might be over. Thankfully, I have since recovered and am back to fulfilling my duties. I am deeply grateful for the understanding and support I received during this difficult period.
In addition to the Kusama Infinity Nets, I am particularly proud of the record-breaking sale of The Men on a Belt Conveyor by Tetsuya Ishida. Ishida, who tragically passed away at the age of 31, has become a legendary figure in the art world. The painting we sold was previously featured in his retrospective at the Museo Reina Sofía in Spain and is undoubtedly one of his masterpieces.
I have always been deeply moved by his unique artistic language, which explores and reflects on the human condition. Hammering down a record price for one of my favourite Japanese artists was an incredibly sentimental and fulfilling moment.
I’m excited about the possibilities our new space offers and look forward to presenting more exhibitions and auction previews for our collectors in this thoughtfully designed space.
I am already in the process of curating a special themed exhibition in collaboration with other departments. My goal is to create an event with a museum-like, academic approach that allows our guests to interpret a specific theme through various categories. I hope this initiative will provide our collectors with a unique and enriching experience.
Claire Tole-Moir, Head of Popular Culture & Science
My most memorable moment of the year at Bonhams was undoubtedly the Rory Gallagher auction. The entire process, from curating the collection, to working with musicians like Joe Bonamassa, to witnessing the excitement and enthusiasm from bidders in our packed saleroom, was incredibly rewarding.
It was such a privilege to handle this guitar collection from a legendary musician whose influence has transcended generations. This felt like a celebration of Gallagher's legacy, and being part of that was truly unforgettable.
The standout lot for me was his 1961 Fender Stratocaster. The guitar was not only iconic in its own right, but also had an undeniable connection to Gallagher's musical genius. The sheer interest and passion it generated from bidders made it a truly special item, and seeing it achieve such a fantastic result was a highlight of the year. What’s more is that the guitar will be donated to the National Museum of Ireland and the Cork Public Museum so it can continue to be admired for years to come.
"This felt like a celebration of Rory Gallagher's legacy, and being part of that was truly unforgettable."
2024 proved to be the Bonhams Pop Culture Department's best year in history. Looking ahead to 2025, I’m excited about continuing to work with incredible collections and discover new and unique items that have their own rich stories to tell. Our Popular Culture sale always bring a sense of nostalgia and excitement. It’s always thrilling to see the impact and interest that such pieces generate, and I can't wait to see what 2025 has in store for us at Bonhams.
Jean Ghika, Global Head of Jewellery
Coloured diamonds provided the standout moments in all our major salerooms in London, NY and HK in 2024. Most notable amongst them are this beautiful two-stone ring by Mouawad set with an exceptionally rare Fancy Intense Blue and a Fancy Purple-Pink diamond, each weighting over 5.00 carats was sold in London in June for £2.9 million. The strong result was a clear demonstration that the allure of fancy-coloured diamonds continues to endure amongst collectors.
Elsewhere, this Exceptional Very Light Pink diamond weighing 30.10 carats was unusual in being a round brilliant-cut shape, most coloured diamonds are presented in modified cuts, and the round brilliant-cut is rarely used due to the higher percentage of natural wastage than other cuts. Pink diamonds are exceedingly rare in nature, and this example found a buyer at HK$20,419,000 inc. premium.
It is estimated that only one in 10,000 gem quality diamonds produced in the world show noticeable colour and of these a similarly small percentage are pink, the majority under 2.00 carats in size.
With over 90 sales planned in 2025 across the Bonhams network the global jewellery team look forward to bringing more rare and exceptional diamonds, coloured diamonds and gemstones to our buyers in the New Year starting with our online sales in January in Paris, Los Angeles and London.
James Knight, Bonhams|Cars
A personal highlight of the year was bringing to market a motor car I first sold in 1991 that was still owned by the family to whom I sold it. It was the rare and highly desirable 1928 Mercedes-Benz 36/220 S-Type, a 6.8-litre supercharged Tourer that was one of the most prestigious and fastest cars of its day.
Particularly satisfying, as a result of more recent research, was revealing a number of aspects previously unknown, such as being able to confirm the body it sported was of original factory origin. It attracted global interest and sold for an above estimate £2,871,000.
"We achieved a hammer price of €21.3 million with a market-leading sell through rate of 95%."
And, as an auctioneer, being able to conduct the annual Bonhams|Cars Zoute sale on the Continent was simply fantastic. This sale always delivers and 2024 was no exception. We achieved a hammer price of €21.3 million from 68 motor cars with a market-leading sell through rate of 95%.
We look forward to 2025 with a calendar of sales designed to offer our clients the perfect platform to realise the very best price, whether it be the annual Goodwood series of sales or the exciting new venture in association with the Miami Grand Prix this coming May.
Harvey Cammell, Global Director, Valuations, Trusts & Estates
The Crown Auction stands out as one of those magical sales which caught the public imagination, and will stay in the memory forever. We had 30,000 visitors attend the exhibition of lots which included the replica Gold State Coach and the No.10 Downing Street façade. With bidders from over 50 countries participating in our live and online sale marathons and over 3,000 press features on the auction, it was a sell-out – making three times its pre-sale estimate.
There have been many standout lots this year, such as Rory Gallagher's Fender Stratocaster which sold for €1 million, and from The Crown, it was the pink corduroy jacket inspired by the Duke of Windsor, played by the brilliant Alex Jennings. Alex actually wore the jacket on the rostrum when I passed over the gavel for him to sell this lot. He commanded the room with such humour and panache that we’d love to offer him a job as a full-time lead auctioneer!
"Alex Jennings wore the Duke of Windor jacket on the rostrum when I passed over the gavel for him to sell this lot. He commanded the room with such humour and panache"
In 2025 I'm looking forward to the discoveries we have yet to make, and the next iconic auction we are yet to take...
Priya Singh, Head of Modern & Contemporary South Asian Art
Our recent December sale in London achieved the highest total ever for the category at £5,820,910. We set multiple records; Untitled, a deeply powerful abstract work became the highest priced Swaminathan painting sold outside India, La Terre, by Sayed Haider Raza set a new record for a work from this period and time, hammering at £2.7 million against an estimate of £1.5-2.5 million. Nag-Puja by Sultan Ali, set a new record for the artist at £48,000, whilst Untitled (Townscape) by Sadanand K. Bakre sold for £90,000 which was an impressive four times the estimate.
"Our recent sale set multiple records and achieved the highest total ever for the category at £5.8 million."
Samuel Fyzee-Rahamin's Untitled (Maiden by a pool), sold for 125% its estimate in its auction debut. It was the most well-loved lot by clients, and the price it achieved of £125,000 against a £1,000-£1,500 estimate completely obliterated expectations.
My hope for 2025 is to build on the department's success and push forth with discovering those artists yet to be discovered!
Sharon Chan, Director of Watches, Asia
The 2024 May Hong Kong Watches Live Auction was undoubtedly my most cherished moment of the year at Bonhams. Achieving the second highest total for global watch sales and setting the record for the highest-selling watch in Bonhams’ history made it truly remarkable. Additionally, it marked my debut as an auctioneer, adding a personal touch to this unforgettable experience.
"Setting the record for the highest-selling watch in Bonhams’ history made it truly remarkable."
The Richard Mille RM27-01 stood out as our breakthrough lot of the year. After over a decade of providing professional advice, I was honored to stand by the seller when he finally decided to part with it. My heartfelt thanks go to our incredible Geneva team who, in collaboration with my Hong Kong Watches team, swiftly facilitated this successful consignment. This record-breaking sale not only highlights Bonhams' acumen in achieving the highest ever global watch price, but also underscores our unwavering dedication to client relationships and the seamless efficiency of our international team.
As we embrace our new Asia headquarters and continue to strengthen our position in the industry, we are thrilled to anticipate new opportunities to delight our clients with stylish auctions. We are committed to offering an even more unique selection of watches on our private sale platform, ensuring an exciting future ahead for all watch enthusiasts.
Looking to sell your watch at auction? You can request an estimate, read our watch collecting guides or speak to a Bonhams specialist below.
Julia Hu, Managing Director, Bonhams Asia
2024 has been a landmark year for Bonhams in Asia as Bonhams Hong Kong auction sales surged by 18% year on year, reaching HK$670 million (US$86 million) — the highest total since the company established its presence in Hong Kong in 2007. Private sales also saw significant growth of 68%. Globally, Asia-Pacific clients remain a strong buying force, contributing nearly 25% of the value to our global transactions.
"This new, upgraded space is a vibrant hub where the passion of collecting comes alive..."
This growth follows the opening of our new Asia headquarters at Six Pacific Place in October, a strategic move that responds to the expansion of its operations in the region and aims to capitalise on emerging market opportunities. Spanning 19,000 square feet across three floors, the upgraded, flexible premises feature galleries, a permanent saleroom, and offices, elevating client experiences and serving as a dynamic hub for a year-round program of sales, exhibitions, and events.
With this future-forward new home, the curtain is raised on the next groundbreaking chapter, ushering in a new era of innovation and growth in the Asian art market. We eagerly await welcoming our clients to our new home!
Looking to sell your object or collection? Request an estimate.
Matthew Haley, Managing Director, Knightsbridge and Head of Books & Manuscripts
Bonhams Knightsbridge had its best year ever and hit a record total for our sales. We held around a hundred auctions and offered almost twenty thousand lots. I have rarely seen such a buzz around an auction as we had for the extraordinary sale of Rory Gallagher's guitars; but the standout lot for me was a 1462 astrolabe, representing a high point of Renaissance mathematical culture which made over half a million pounds, more than twice its low estimate.
"Bonhams Knightsbridge had its best year ever and hit a record total for our sales."
Other notable highlights include a remarkable first edition of On the Origin of Species inscribed by Charles Darwin to the man whose place he took in the Académie des Sciences, sold for £305,200, and a painting by John Steven Dews of the yacht Shamrock V racing at Cowes, which was part of our ever-popular Marine Sale sold for £152,800 in October. We've made some exceptional new hires during the year so I can't wait to see the team thrive in 2025.
Asaph Hyman, Global Head of Chinese Ceramics & Works of Art
The Jules Speelman: Completing a Cycle – 60 Years of Devotion auction held in Paris in June achieved a staggering €15.2 million, tripling the pre-sale estimate, certainly deserves the top spot for 2024. Also in the running is the David S. and Nayda Utterberg Collection of Chinese Classical Furniture, which reached US$4.26 million.
I must mention two standout lots: the gilt copper alloy figure of Vajradhara, Nepal, 14th century, from the Speelman Collection which sold for €4.16 million – simply amongst the very rarest and finest of its type, and exceptionally well preserved. From the Utterberg Collection, the magnificent 17th century huanghuali waisted corner-leg table with giant arm-braces and drawers, sold for US$1.63 million – an absolute masterpiece displaying utilitarian elegance at its highest form.
"We sold lots that were simply amongst the very rarest and finest of its type, and exceptionally well preserved."
For 2025, I am very excited to bring several collections to the public. In the Hong Kong Spring auctions we will offer two very special sales from the collection of Jules Speelman: 8 at 80, which will include eight masterpieces of Chinese and Tibetan devotional art to mark Jules Speelman’s 80th birthday; and Monks & Mahasiddhas, which will include a superb selection highlighting this important aspect of Buddhist art.
Jason Stein, Modern Decorative Art & Design
My standout object of 2024 was offering a beautiful Carlo Bugatti silver bowl from The Mullin Collection. Estimated at $80,000-120,000, it sold for $191,000 at Bonhams Los Angeles. This extraordinary piece had all the right attributes – it is by a legendary designer, has an incredible dragonfly motif, the scale is perfect, and it is so unusual as Bugatti rarely worked in silver.
Another memorable moment was seeing a 1940s Tony Duquette plaster figure from the Estate of Leonard Stanley sell for over $50,000. This piece soared past its pre-sale estimate of $1,000-2,000 and achieved a record for the highest price paid for a Duquette object at auction.
Looking ahead, I am very excited to be offering a 10-piece capsule collection of enamel objects by June Schwarcz in our Modern Design|Art auction on 27 March in Los Angeles. Schwarcz was a master enamelist whose extraordinary work has been featured in various museum exhibitions including a landmark retrospective at the Smithsonian American Art Museum. Bonhams Los Angeles currently holds the auction record for the highest price for a piece by Schwarcz.
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