Chattanooga-Based Compass Auction Handles Major Business Liquidation

Tuesday, November 7, 2017

For two days, the auction of U.S. Electrical 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 Ms. 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 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, Tn., as well as in western Kentucky.  



ALDI Brings New Jobs To Chattanooga With Hiring Event On Friday

ALDI will host a hiring event for its Chattanooga-area stores on  Friday . Known for offering market-leading wages and health insurance, ALDI is one of the fastest growing retailers in the U.S., creating new opportunities for people locally and nationwide. The event will be held from 7:30 a.m.-2 p.m. at Holiday Inn Express, 440 West Martin Luther King Boulevard. ALDI ... (click for more)

CO.LAB Accelerator Startups To Pitch Ideas At Demo Night

The startup teams of The Company Lab’s Summer 2018 accelerators will pitch their companies and display their products and services at CO.LAB Demo Night.   The event will take place July 26 from 6-9 p.m in the Waterhouse Pavilion at Miller Plaza. Food and beverages will be served. Entry is free and open to the public. Click here to register.   Demo Night marks ... (click for more)

Red Bank Approves Short Term Vacation Rental Ordinance On Final Reading

The Red Bank Commission passed an ordinance Tuesday night on second and final reading that regulates short term rentals within the city. "Our hands have been tied because of state law," said Mayor John Roberts. Many residents, both for and against allowing these rentals, have come to recent commission meetings appealing to the commissioners for their side of the issue, ... (click for more)

Firefighters Battle 2-Alarm Fire On Workman Road Tuesday Morning

Chattanooga firefighters were dispatched at 6:03 a.m. on Tuesday, to a commercial fire at 400 Workman Road. When the first firefighters arrived on the scene, flames were shooting through the roof and the request was immediately made for a second alarm response. The flames could be seen for miles as a total of 13 fire companies rushed to the scene. The large, two-story ... (click for more)

Bill Lee Is Great For Tennessee

I had the opportunity to meet Bill and Maria Lee at the grand opening of his Chattanooga Campaign HQ. He delivered, what was by most accounts, a showstopper speech at the Statesman’s dinner in Nashville the night before. He and Maria should have been worn out, but if they were, they really showed very little sign of it. His energy level, for a guy that couldn’t have gotten more ... (click for more)

A Successful East Ridge Bake Sale

Saturday's event at the Camp Jordan Pavilion was nothing more than extraordinary, if not history making.  Alongside the threatening eminent domain letters the citizens of East Ridge received, a Union was formed amongst the East Ridge Police Department.  Coming to City Council the night of April 26, I had only one thing I was focused on: eminent domain.  ... (click for more)