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Michael's Blog
Bonhams, in Mandarin, that is

London’s Daily Mail is reporting that the front runner to acquire international auction house Bonhams is Poly Culture, an auction house owned by the Chinese government, and a subsidiary of the Poly Group, whose interests range from property development to arms exports. The why of this acquisition may be known in the fullness of time, but for the moment, seems rather surprising as it would likewise prove surprising to find that Bonhams has been operating with any pronounced degree of profitability and, with its recent bricks and mortar expansion on …