DEFINITION of 'Lyon & Turnbull'
An auction house established in Edinburgh, Scotland, in 1826. While smaller than Sotheby’s and Christie’s, Lyon & Turnbull is the largest auction house in Scotland, and has offices in London.
BREAKING DOWN 'Lyon & Turnbull'
Lyon & Turnbull, like several other auction houses, has expanded internationally in order to take advantage of the growing market for art and collectibles. While focusing primarily on the United Kingdom market, it has partnered with Freeman’s, an American auctioneer, in order to reach the U.S. market.