John Hone and his brother Philip Hone were partners in auction house "Philip & John Hone."
According to Joseph Scoville's book "Merchants of Old New York" John and Philip Hone were "creme de la creme" of New York society and both were wealthy men. Philip Hone served as Mayor of New York in 1826. After Philip left the business 1826, John continued the business with his five sons and two sons in law. When John died of cholera in 1832, the sons continued the business.