Two independent auction brands, Rago in Lambertville, N.J., 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-plus 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 its auction platform.
“I welcome the opportunity of working with a larger team. Our blended perspectives, geographic reach and experience will add to the great work we both currently do,” said Wright.
“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.”
Added Suzanne Perrault, president, “We are all excited by the potential this merger represents, 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.”