Rago Wright Acquires Poster Auctions International
July 25 2024 - 9:05AM
Business Wire
Acquisition furthers Rago Wright's entry into the collectible
art market, expanding its reach in the fine and rare vintage poster
industry by acquiring the leading independent vintage poster
auction house.
Today, Rago Wright announced its acquisition of Poster Auctions
International (PAI), marking the fifth stand-alone auction house
and further cementing Rago Wright as the leading network of
independent auction houses. The acquisition will enhance the
overall offerings that Rago Wright offers to consignors and buyers
throughout the global art community. Jack Rennert, founder, and
president of Poster Auctions International, will join Rago Wright
as a partner in their vintage poster auction business, ensuring
smooth continuity of senior management and deep focus on consignor
and customer relationships.
Over the past several years, Rago Wright has demonstrated
significant growth through strategic acquisitions and expansion
into new markets. In 2019, the two firms of Rago and Wright merged,
followed by the addition of LA Modern Auctions (LAMA) in 2021, and
Toomey & Co. in 2022, creating a powerhouse in the auction
world industry with offerings ranging from early 20th century fine
art and decorative arts to modern design, post-war and contemporary
art, and beyond. With the acquisition of PAI, Rago Wright
solidifies its status as a leader in the auction of fine and rare
vintage posters, further diversifying its portfolio which already
runs the entire spectrum of 20th century art and design. Together,
the merged organization will be composed of more than 100 experts,
including market specialists, researchers, designers, and handlers,
overseeing more than $100 million in annual sales of contemporary
art and design.
“For more than two decades, the Rago Wright network of auction
houses has helped define the market for contemporary art and
design,” said Richard Wright, CEO of Rago Wright. “We admire how
Jack Rennert and PAI defined the fine and rare vintage poster
category. We’re proud to build on Jack’s legacy and serve the
thousands of PAI consignors and buyers.”
Since 1984, Poster Auctions International has specialized in
vintage poster auctions and is today regarded as one of the world's
foremost authorities on rare and unique vintage posters, offering
unmatched triannual auction sales. To date, PAI has conducted over
90 auctions, selling 50,000 rare and collectible vintage posters
for over $150 million.
“For over 50 years, rare and beautiful posters have been my
passion, and I’m proud to have built Poster Auctions into a company
that has served thousands of clients. As I thought about the
company’s future, its exceptional global group of consignors, and
its passionate buyers and collectors, I wanted to be sure that this
extraordinary group would be well served in all respects,” said
Jack Rennert, founder of PAI. “After an exhaustive review and
careful consideration, it was clear that there is no better group
than Rago Wright to best serve our consignors and buyers and build
on PAI’s remarkable history.”
Future PAI auctions will be conducted using Rago Wright’s
state-of-the-art auction platform. Live online bidding will be
available on a new and improved PAI website coming early this fall
as well as on select third-party bidder platforms. PAI is accepting
consignments for its fall auction and Jack Rennert is available to
provide free evaluations of works you are interested in selling.
Rennert can continue to be reached at: jrennert@posterauctions.com
or by phone at: (212) 787-4000.
For media inquiries or further information, please reach out to
press@wright20.com.
About Rago Wright
Rago Wright is a network of independently owned art and design
brands in the auction industry. Rago and Wright joined forces in
2019, followed by the addition of LA Modern Auctions (LAMA) in the
fall of 2021, and in 2022 Toomey & Co. joined the firm.
Together, the company brings $100+ million in annual sales, has a
team of 100, and more than a century of combined business
experience. With a national coast-to-coast presence, shared
clientele, technology, innovation, and creativity, alongside
expertise and shared passion, Rago Wright is uniquely positioned to
serve a global audience while maintaining a strong independent
voice in the world of art and design.
About Poster Auctions International
Since 1984, Poster Auctions International has specialized in
vintage poster sales. The auction house, founded by Jack Rennert,
offers triannual auction sales of rare and unique vintage posters.
Poster aficionados, enthusiasts, collectors, galleries, and leading
art museums around the world value PAI as one of their most trusted
auction houses for successful consignments, unique buying
opportunities, an unequaled experience in the field, and an
impeccable source for top-quality original poster art. PAI has
conducted 93 auctions to date, selling 50,000 rare and collectible
vintage posters for over $150 million.
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Sydney Portigal wright@milkandhoneypr.com