Wright, an auction house specializing in design that is based in Chicago and New York, has announced plans to merge with the New Jersey–based auction house Rago Auctions. Through the merger, Richard Wright, the founder of his eponymous auction house, will work as CEO of both companies.
In a statement, he said, “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.”
The combined companies will employ 75 people. According to a release put out by Wright, the companies bring in a combined $65 million in sales.
Suzanne Perrault, who serves as president of Rago Auctions with David Rago, said, “The mix of our two cultures, while similar, presents a fascinating challenge and offers a terrific opportunity for growth, both personally and professionally.”