CHICAGO and LAMBERTVILLE, N.J. – Two renowned independent auction brands, Rago in Lambertville, New Jersey, and Wright in Chicago and New York, have announced the merger of their business operations. Both houses will continue to operate under their individual names while sharing technology, expertise and marketing efforts.
In the increasingly competitive auction market, the joint entity will have stronger reach and a broader team of specialists. With $65+ million in consolidated annual sales, the combined company has a team of 75 and more than a century of business experience.
Rago’s broad expertise in art, jewelry, ceramics and estates and Wright’s focus on design and innovative presentation will be combined to better serve their clients and maintain a strong voice in the world of art and design.As CEO of the combined companies, Richard Wright will work in tandem with Rago’s specialists to continue to bring new concepts to our auction platform.
“I welcome the opportunity of working with a larger team,” Richard Wright said. “Our blended perspectives, geographic reach and experience will add to the great work we both currently do.”
“Elbert Hubbard, the Arts and Crafts era luminary, once said that the best business was done in cooperation, not competition,” said David Rago, President, “I’ve always believed in that and our merger with Wright presents us with a golden opportunity to experience this in practice rather than theory.”
“We are all excited by the potential this merger represents,” said Suzanne Perrault, President, “particularly as it pertains to increased reach and exposure for our shared clientele, consignors and collectors alike. The mix of our two cultures, while similar, presents a fascinating challenge and offers a terrific opportunity for growth, both personally and professionally.”
Rago Auctions, founded in 1984, is a leading U.S. auction house with $34 million in sales in 2018. It serves thousands of sellers and buyers yearly with global reach, personal service and competitive commissions for single pieces, collections and estates. An internationally-known venue through which to buy and sell, Rago offers free valuations for personal property as well as USPAP-compliant estate and appraisal services.
Founded in 2000, Wright has established a reputation as an innovator within the industry. With world class specialists and presentation, Wright has pioneered new categories of collecting and upped the ante for catalog and website design. Dedicated to 20th century art and design, Wright has become a renowned resource for distinguished collectors and sellers around the globe.
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