Rago/Wright announces merger with LA Modern Auctions
On August 6, 2021, Rago/Wright announced its merger with LA Modern Auctions, a 29-year-old West coast auction house with a strong focus on modern art and design.
LAMBERTVILLE, N.J. – Rago/Wright expands to the West Coast to merge with LA Modern Auctions (LAMA), bringing together the three strongest, independently owned design brands in the auction industry. All three houses will continue to work under their individual names while sharing technology, expertise and marketing efforts. The newly-merged entity will host its first auction with LAMA in October.
Building on the synergies of the Rago/Wright merger in 2020, the combined company will continue to offer curated auctions of art, design, ceramics, jewelry and watches with bespoke digital presentations and state-of-the-art bidding technology. With combined expertise, shared outreach and a coast-to-coast presence, the joint entity will be positioned to better serve clients, buyers and sellers alike, and to maintain a strong voice in the world of art and design.
Of the merger, David Rago, said: “It is great to see the realization of a long-term goal shared by Peter, Shannon, Suzanne and myself. I look forward to working closely with Shannon Loughrey and Richard Wright to take our companies to the next level.” Suzanne Perrault added: “I am terribly excited about finally joining the Loughrey company, which we have longed to do for years. I look forward to pooling our knowledge, staff, and particular talents to build an even stronger house, working on the momentum we created when joining forces with Wright in 2020. This is a tremendous moment for all of our companies.”
“I am committed to the continuity of the brand Peter and I developed during the past two decades,” explained Shannon. “The prospect of sharing this vision and collaborating with Rago/Wright is very exciting.”
Richard Wright will continue in his role as CEO of the combined companies. He commented: “Rago/Wright is proud of our bidder platform and auction technology. We are happy to be sharing these assets with LAMA and look forward to introducing new auction opportunities to our buyers and sellers with the addition of the West Coast brand.”
In 2020, with a team of 55 in Chicago, Lambertville and New York, Rago/Wright presented nearly 16,000 lots across 56 auctions with sales totaling more than $56 million. Six months in to 2021, Rago/Wright has already hosted 27 auctions with combined sales totals of $43 million and achieved multiple world record results at auction including the sale of a Tiffany lamp at $3.7 million.
About LA Modern Auctions
LA Modern Auctions was founded in 1992 by curator and trusted consultant Peter Loughrey, and was the first auction house to specialize in the selling of 20th-century modern art and design. Together, Peter and Shannon Loughrey quickly established their firm as a trusted authority in the fields of art and design offering quality, vetted material at variety of price points.
About Rago
Rago Auction was founded in 1984 by David Rago, the preeminent expert in the field of American ceramics and art pottery. With more than five decades of experience handling 20th and 21st century works, David Rago and Suzanne Perrault are nationally recognized experts appearing frequently on PBS’ Antiques Roadshow. Rago handles a broad range of material and its close proximity to New York makes it a favorite destination for many East Coast collectors.
About Wright
Richard Wright founded Wright auction in 2000. An innovator and pioneer in the auction world, Wright was described in The New York Times as being a “maverick of design.” Wright is known around the world for its creativity and quality of presentation. From the sale of the iconic Four Seasons Restaurant interior to Marcel Breuer houses, Wright has successfully produced hundreds of auctions of art and design.
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