Published: August 10, 2021
NEW JERSEY, CHICAGO & LOS ANGELES – 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.
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 adds, “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 over the past two decades,” explains Shannon. “The prospect of sharing this vision and collaborating with Rago/ Wright is very exciting.”
Richard Wright will continue in his role as chief executive officer of the combined companies. He said, “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. Rago/Wright have an exciting fall lineup, including their first auction with LAMA in October.
For additional information, www.lamodern.com.
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