The managing director of Bonhams Australia Mr James Hendy told the Australian Art Sales Digest's Terry Ingram that that the twice yearly decorative art sales it held which had been grossing $1 million to $1.2 million had shrunk to about one third of that size
European antiques and furnishings had been particularly hard it by changes in taste and limitations on what was available to the market.
Asian antiques particularly Chinese, were the only consistently strong area of interest, although there had been some bursts of buying of Australiana in the last sale, held at the Byron Kennedy Hall at the Sydney Showground last month.
The sale was part of a round of sales the company has at its rented venue twice yearly including Australian and European art and jewellery.
Jewellery however has been going gangbusters. Mr Hendy said that the company would now hold three sales a year despite the departure of Ms Pattie Sedgwick to Mossgreen in Melbourne. The jewellery sales would be under the direction of Ms Annelie Manolas who has worked for both Christie's and latterly for Bonhams.
The changes mean that a new job will have to be found for Mr Hendy who has spent more than a decade working for Bonhams in London and Bonhams Australia, or Bonhams and Goodman as it was in the mid noughties.
The industry is speculating on a move to the US where Bonhams has been making great strides.
The changes also impact on Ms Jennifer Gibson, one of Bonhams' latest recruits who came from Sotheby's Australia and prior to that, Leonard Joel, and had been the company's lead decorative arts specialist.
Mr Hendy said that the company was also looking for a job for her in the group.
Ms Dalia Stanley, one of the earliest recruits by Bonhams from Sotheby's Australia as that company became after the takeover by management, is regarded as a valued generalist and is expected to stay.
Mr Hendy said that single owner sales including decorative arts continued to fire and would be continued selectively.
The general decorative arts sales will still be missed by some buyers like the Stokes Museum in the Macedon Ranges, which has been a big buyer of Worcester porcelain.
The company's main operation, Australian painting auctions, continue in keen competition with three rivals, their success heavily reliant to date on big one vendor sales.
Mr Paul Sumner, managing director of Mossgreen, said that Mossgreen which had merged with Mr Charles Leski's stamp and sporting memorabilia based focused group, had a business model entirely different to Bonhams with its own building in Melbourne's Armadale which was once the home of Sotheby's Australia.
Mossgreen, which specialised in single owner sales, expected to benefit from the move. To win these sales required specialists and a regular pattern of sales, Mr Sumner said.
The company also took on Sandy Bruce who had been head of decorative art at Sotheby's Australia.
Bonhams, formerly a joint venture in Australia with Mr Tim Goodman, re-surfaced in Australia with its sale of the highly diversified collection of Mr Warren and Ms Cheryl Anderson's collection for $10 million after a tiff with Mr Goodman over his purchase from his big international rival of the Sotheby's Australia franchise.
Its roots had been in vintage and classic cars which are the forte of Bonham's proprietor, Mr Robert Brooks.
Bonhams recently sold a Mercedes Benz racing car for £19.6 million at the Goodwood Festival of Speed which grossed the company £36 million.
Both Sotheby's International and Christie's have cut back on their operations in Australia where the market has been noticeably unaffected by the mining boom.