London's Bonhams Auction House to Close Musical Instrument Department

It has been announced today that British auction house Bonhams is set to close their musical instrument department at the end of this current month.

The move follows musical instrument department closures at both Sotheby's in London and Christie's in New York since 2013.

Bonhams has ranked third in total London stringed instrument sales in recent years - but is understood to have faced increased year-on-year pressure from online auction houses Beare's and Tarisio.

Founded in 1793, Bonhams deals in fine art and antiques in over 60 specialist areas and in more than 25 countries.