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Established in 1968 by fine art and chattels auctioneer John Pye, the company has grown to become the UK's largest independent commercial auction house with 15 trading sites and six different divisions.

They offer more than one million lots a year counting leading names in UK banking, lending, retail, insolvency and Central Government authorities among their clients.

As their interest in the jewellery and wristwatch market grows, from mid-November Pye will open for business at Standbrook House, 5 Old Bond Street, basing their Luxury Assets, Property and Business Assets divisions in London's premier luxury heartland.

London Showroom

Managing director Adam Pye said the space will primarily act as a boutique showroom and the headquarters for valuation, appraisal and property services to clients in London and the south-east.

The first assets to go under the hammer will be a 345-lot sale of gemstones available for preview at Standbrook House from November 11. These will be offered via three online auctions in November and December.

The Bond Street operation expects to conduct fortnightly sales from their online platform. 

As well as the John Pye Auctions boutique in Mayfair, the firm is also set to open a Scottish auction hub on the outskirts of Edinburgh.