Managing director Gavin Strang attributed the growth to the company’s expansion, notable high-value sales, and post-pandemic recovery. Over the past five years, the auction house doubled its turnover, thanks to its online presence, including live online bidding for all auctions.

The firm also grew its business in the south, increasing the number of sales it holds in London. Lyon & Turnbull successfully auctioned a rare US Declaration of Independence for £3.2m, a rare maiolica dish for a world record £1.26m, and a still-life painting by Scottish Post-impressionist painter Samuel John Peploe for £735,000.

The auction house successfully transitioned into online auctions during the pandemic and plans to continue using them alongside in-person and hybrid events.