The international auction house has selected Chabi Nouri to serve as its new Global CEO, effective October 2024. The Swiss executive brings seven years of leadership experience from Richemont-owned Piaget, where she guided the prestigious watch and jewellery brand through significant market developments.
“It is a great pleasure and privilege to welcome Chabi Nouri to Bonhams. Her experience and qualities make Chabi a perfect fit for the company. Having served as a CEO of a leading luxury company, and in her most recent role as a co-manager of a private equity fund, Chabi has proven abilities as a strong brand-builder, and for digital innovation. Her background in luxury also brings valuable experience and insight to one of the most important categories at Bonhams.”
Hans-Kristian Hoejsgaard – Executive Chairman at Bonhams
The appointment comes at a pivotal moment for the Georgian-era auction house, which has undergone substantial expansion under private equity ownership by Epiris. The organisation completed four strategic acquisitions in 2022, integrating Bukowskis in Stockholm, Bruun Rasmussen in Copenhagen, Skinner in Boston, and Cornette de Saint Cyr in Paris into its global operations.
Founded in 1793, the auction house now operates 14 salerooms worldwide, conducting sales across more than 60 collecting categories. The company achieved its highest-ever annual turnover in 2023, underscoring the strength of its international platform and diverse specialist departments.
Leadership transition brings luxury sector expertise
Nouri’s career trajectory encompasses both operational leadership and investment perspectives within luxury markets. Following her tenure at Piaget, she joined the Mirabaud Group in 2022 as Private Equity Partner, gaining valuable insights into capital allocation and strategic growth initiatives.
“I am delighted to be joining Bonhams, which has a long heritage, rich history and strong values as an auction house, as well as a reputation as an innovator. Its focus on digital transformation, global reach and passion, nurtured by its extraordinary talents, makes it an exceptionally exciting and dynamic company. I look forward to building on these strong foundations and focusing on Bonhams’ core DNA.”
Chabi Nouri
Her professional foundation was established during a decade at Cartier, where she progressed through multiple roles after completing her studies at Fribourg University. This comprehensive background across different luxury segments provides relevant experience for overseeing an auction house that regularly handles high-value timepieces, jewellery, and luxury collectibles.
Executive Chairman Hans-Kristian Hoejsgaard emphasised the strategic value of her appointment, noting her proven capabilities in brand development and digital innovation. The luxury sector experience aligns particularly well with one of the auction house’s most significant revenue categories, where specialist knowledge can drive both acquisition strategies and market positioning.
Record performance underpins expansion strategy
The organisation’s financial performance in 2023 demonstrated the effectiveness of its global network approach. Total turnover across all operations reached $1.14 billion, establishing a new benchmark in the company’s 231-year history. This achievement was supported by 997 sales events, comprising 395 live auctions and 602 online-only sessions.
The breadth of the auction house’s operations is reflected in its handling of 216,262 individual lots during 2023, with 62 items achieving prices above $1 million. The highest-value transaction was a 1967 Ferrari 412P Berlinetta, which sold for $30.3 million at the Quail Auction in California.
Notable results included the £14 million sale of Tipu Sultan’s Bedchamber Sword, which established both a world auction record for Indian and Islamic objects and the highest price ever achieved for a sword at auction. The piece significantly exceeded its £1-2 million estimate, demonstrating the market’s appetite for exceptional historical artefacts.
Global infrastructure supports diverse collecting categories
The current network spans three continents with strategic positioning in major art and collecting markets. Operations include three UK locations in New Bond Street, Knightsbridge, and Edinburgh, four US salerooms covering New York, Los Angeles, Boston, and Marlborough, plus international presence in Hong Kong, Paris, Brussels, Copenhagen, Stockholm, Sydney, and Melbourne.
This geographic distribution enables the organisation to serve regional collecting preferences while maintaining global reach for internationally significant items. The structure proved particularly effective for automotive auctions, with multiple Ferrari sales featuring in the year’s top ten results across different continental markets.
The diversity of collecting categories, spanning more than 60 specialist departments, provides resilience against market fluctuations in any single sector. This breadth was evident in 2023’s top sales, which included contemporary art, classical paintings, historical artefacts, luxury automobiles, and Asian works of art.
Digital transformation priorities
Nouri highlighted the organisation’s focus on digital transformation as a key attraction in her decision to join the company. The integration of online-only sales represented a significant portion of total activity, with 602 digital auctions contributing to the record turnover figures.
The digital strategy extends beyond simple online bidding platforms to encompass comprehensive digital marketing, virtual viewing experiences, and enhanced client services. This approach has become increasingly important for reaching global collectors and younger demographics entering luxury collecting markets.