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US Electric Liquidation Auction

Compass Auctions and Real Estate

Compass auction equal to task of major business liquidation

ATLANTA (Nov. 1, 2017) — For two days, the auction of US Electric Supply’s inventory and equipment became a focus of electricians, retailers, builders and others from all over the United States.

The auction of more than 30,000 items attracted bidders from 26 states and three countries, with Compass Auctions and Real Estate, of Chattanooga, conducting the event.

“Our advanced auction methods really pay off when you have a business liquidation or major undertaking like this one, with thousands of items to be sold. We’re able to accomplish the job in a fraction of the time other methods would take,” said Paige Holt, president of the auction company. “Our intensive marketing campaign brought together live and online bidders, resulting in a great result for the seller. We literally had buyers from places as far away as Arizona, California, Idaho and Connecticut bidding and arranging to pick up their items following the auction,” she said.

Because the business was closing, the auction also included forklifts, scissor lifts and other items used for managing the warehouse, she said.

“The concept of using the auction method provided the ability to sell numerous, differing assets in the same event. Our aim was to achieve the best possible scenario for the sellers, and they have assured us that the auction surpassed their expectations. Nothing is more important than that,” said Holt.

Bill McFerrin, owner of US Electric, said he was delighted with the outcome. “The net results were beyond my wildest dreams,” he said.

The company is currently lining up auctions for fall and winter. Individuals seeking additional information may visit SoldonCompass.com or call 800-729-6466.

Compass Auctions and Real Estate, based in Chattanooga, is Tennessee’s only certified Women’s Business Enterprise woman-owned auction and real estate company. The firm has more than 50 years of combined experience in government surplus, heavy equipment, vehicles, land and charitable auctions. It also has locations in Nashville and Lebanon, Tennessee, as well as in western Kentucky.

For more information:

Compass Marketing 423-702-6180

US Electric Liquidation Auction

Equipment Auction Set for August 30 as Stein Construction Closes Doors After 105 Years

Online Catalog Click Here

CHATTANOOGA, Tennessee (August 15, 2017) — Excavators, dozers, backhoes, trucks and other equipment will be selling at auction August 30 as Chattanooga’s Stein Construction prepares to close its doors after 105 years. Compass Auctions and Real Estate will conduct the auction.

“Stein has been an institution for four generations,” said Paige Holt, president of the auction company. “However, its closing presents a real opportunity for other firms to obtain scores of pieces by such manufacturers as Komatsu, Link-Belt, Caterpillar, Freightliner, Peterbilt, International and others.”

The announcement of the Stein auction comes on the heels of the successful completion of Compass’s recent auction of a state-owned Downtown Nashville property for $8.9 million.

“It took a great deal of equipment to run a big construction company like Stein, so this will be a major event. The inventory includes heavy-duty pickups, flatbed trucks, water trucks, dump trucks and all types of earth-moving equipment. There will also be many smaller items, such as lathes, grinders, drills and hand tools from DeWalt and other brands. I wouldn’t be surprised to see bidders from all over the region,” said Holt.

The live auction will begin at 10 a.m. Wednesday, August 30, at 3611 Amnicola Highway, Chattanooga.

Company President Doug Stein said he and his partners will focus on real estate projects, such as the Black Creek development, which has become the largest residential development in Hamilton County. “The opportunity at Black Creek was ultimately more compelling to me than continuing to operate Stein Construction Company in what has become a very different market,” said Stein.

Individuals seeking additional information may visit www.soldoncompass.com.

For more information:
Paige Holt 423-702-6180

Compass Auctions and Real Estate, based in Chattanooga, is Tennessee’s only certified Women’s Business Enterprise woman-owned auction and real estate company. The firm has more than 50 years of combined experience in government surplus, heavy equipment, vehicles, land and charitable auctions. It also has locations in Nashville and Lebanon, Tennessee, as well as in western Kentucky.

Please click here or on the image below for the auction catalog and additional images, or register to bid.

Stein Construction Liquidation Auction August 30, 2017

Compass Auctions conducts Stein Construction liquidation auction

Stein Construction Closing After 105 Years; Holding Equipment Auction

From Chattanooga Times Free Press – August 15, 2017

Excavators, dozers, backhoes, trucks and other equipment will be selling at auction Aug. 30 as Chattanooga’s Stein Construction Co. prepares to close its doors after 105 years.

“Stein has been an institution for four generations,” said Paige Holt, president of Compass Auctions and Real Estate, which will conduct the auction. “However, its closing presents a real opportunity for other firms to obtain scores of pieces by such manufacturers as Komatsu, Link-Belt, Caterpillar, Freightliner, Peterbilt, International and others.”

Holt said it took a great deal of equipment to run a big construction company like Stein, so the auction will be “a major event.”

“The inventory includes heavy-duty pickups, flatbed trucks, water trucks, dump trucks and all types of earth-moving equipment. There will also be many smaller items, such lathes, grinders, drills and hand tools from DeWalt and other brands,” said Holt.

The live auction will begin at 10 a.m. Wednesday, Aug. 30, at 3611 Amnicola Highway in Chattanooga.

Stein said he and his partners will focus on real estate projects, such as the Black Creek development, which has become the largest residential development in Hamilton County.

“The opportunity at Black Creek was ultimately more compelling to me than continuing to operate Stein Construction Co. in what has become a very different market,” said Stein.

Individuals seeking additional information may visit www.soldoncompass.com.

For more information or to register to bid click here.

Stein Construction liquidation auction August 30 2017

Stein Construction Auction August 30th

This article regarding Stein Construction auction originally reported at Chattanoogan.com

Stein Construction Going Out Of Business After 4 Generations, 105 Years; Doug Stein To Turn Attention To Black Creek

Thursday, August 10, 2017

Stein Construction Company is going out of business after four generations of management by the Stein family over 105 years.

Doug Stein said he is the last of his family involved in the business, and he will turn his attention to the development of the Black Creek and Aetna Mountain property in Lookout Valley.

An auction of the Stein equipment will be held Aug. 30 conducted by Compass Auction at company headquarters at 3611 Amnicola Highway. Mr. Stein said that 6.7-acre property has already been transferred to PSL Holdings.

Mr. Stein said, “Over the last eight years, it has become harder and harder to operate in our area of the construction business.”

He noted that he and two partners earlier acquired the huge Black Creek Development off Cummings Highway and Cummings Road. He said he and his partners have now bought out a hedge fund that was involved for several years.

Mr. Stein said the group plans to develop one more small section above a recently developed area by the old Aetna Mountain Road. He said the area on the side of the mountain above that will be donated to land trusts.

Mr. Stein said work began last week on paving another section of Aetna Mountain Road. He said it will eventually be paved to the top of the mountain.

He said there are about 1,000 developable acres on top of the mountain, and he and his partners plan to be involved in its development.

Stein Construction was founded in 1912 by John A. Stein, great-grandfather of Doug Stein. He was originally from Indiana, but took a job with a construction firm here.

Gilbert Stein ran it from 1930 to 1950, building among other projects the intricate bridge on Cummings Highway at Jonas Bluff.

J. Douglass Stein took over after Gilbert Stein suffered a stroke.

Doug Stein joined the family business in 1980. He became president in 1989 after the death of J. Douglass Stein. His brother, Taylor Stein, became vice president.

For more information about the auction including a catalog of items, photographs, registration and pre-bidding, click here.

Compass Auctions Stein Construction Auction Aug. 30th 2017