A British Auction House Merger

LONDON—Bloomsbury Auctions and Dreweatts, two second-tier British auctioneers, are joining forces in a strategic alliance that will make them one of the U.K.’s largest auctioneers. The alliance will provide clients more choice in where to place works for sale and will also give them access to a broader range of expertise. Between the two houses, 90,000 lots have been offered for sale this year, with a combined sales target of £40 million ($66 million).

With branches in London, New York, and Rome, Bloomsbury specializes in books and works on paper and holds the world records for modern first editions by J.K. Rowling and Ian Fleming. Dreweatts, the trading name of the Fine Art Auction Group, has five regional auction rooms in the U.K. and has been acquiring others in the south of England. It plans to reenter the urban art market after witnessing the enormous interest in this summer’s Banksy exhibition at the Bristol City Art Gallery.

Read more at the London Guardian.