Commercial Success and Loyal Clients
Despite its traditional character, Lyon & Turnbull continued to achieve notable commercial success. Throughout the late twentieth century, the firm retained a loyal client base, supported by strong relationships with legal firms handling estates. Around 85 per cent of buyers were private individuals, and while the company maintained a relatively low profile, it nonetheless achieved significant results, including a Scottish record price for furniture when a Regency bookcase sold for £54,000.
What set Lyon & Turnbull apart during this period was not only its range of sales but also the personalities of its auctioneers. Figures such as Ord Kennedy Reid and William Plews were remembered for their wit, charm, and distinctive style.
Auctions at George Street were as much social occasions as commercial transactions, defined by humour, accessibility, and a sense of community.
Yet by the 1980s and 1990s, the wider auction world was changing rapidly. Larger, more corporate firms were modernising their practices, adopting new technologies and global marketing strategies. Lyon & Turnbull, by contrast, remained committed to its traditional approach - handwritten ledgers, straightforward catalogues, and long-established personal relationships.
For many clients, this continuity was part of the firm’s appeal. But it also left the business increasingly out of step with a changing industry.
“Going, Going…”
The death of Chairman Ord Kennedy Reid in 1993 marked the end of another long chapter in the firm’s history. Having been with the company since his youth, he was only the third chairman in its existence, and his passing symbolised the gradual fading of a particular era.
By 1998, the pressures facing the firm could no longer be ignored. The directors reluctantly announced that Lyon & Turnbull would close at the end of the year. Although the decision had been anticipated, it came as a shock to many who regarded the firm as a cornerstone of Edinburgh life.
Under the headline “Auction room going… going… after 173 years,” The Scotsman captured the sense of loss felt by staff and clients alike. William Plews, who had joined the firm as a fourteen-year-old office boy in 1935, reflected on a lifetime spent in the salerooms.
From modest beginnings earning ten shillings a week, he had witnessed decades of remarkable sales and unforgettable objects. Looking back, he remarked that it was almost impossible to imagine anything that had not, at some point, passed through Lyon & Turnbull.
The Final Auction — and a New Beginning
On 5 December 1998, what was believed to be the firm’s final auction took place—a sale of oil and watercolour paintings. The hammer fell, and with it seemed to close the chapter on Scotland’s oldest auction house.
Yet even at that moment, there remained a sense of possibility.
William Plews expressed a simple hope: that someone might take on the business and continue its story.
Within a year, that hope would be realised.