Several area auto dealers competed in Bankruptcy Court for the right to several Prebul Auto Group dealerships on Wednesday.
When the bidding had finished, local dealer Nelson Long wound up with the Infiniti and Volvo dealerships for $500,000.
Another local dealer, Nelson Bowers, got the Chattanooga KIA dealership for $300,000.
Johnny Pye Jr. won the rights to the Prebul dealerships in Dalton for $100,000. They include KIA, Cadillac, Pontiac, GMC and Mazda.
Attorney Jerry Farinash, the bankruptcy trustee, conducted the bidding.
He said there are still no bids for the Jeep, Chrysler, Dodge franchise because of uncertainty over Chrysler's future. But he said an announcement should come about Chrysler by the end of the month. Another hearing is set for April 9 on that dealership, which is on Chapman Road next to the Chattanooga KIA.
Terry Kidd, former Prebul Infiniti general manager, was involved in the Infiniti bidding before bowing out. Marshall Mize had the initial high bid for Volvo at $125,000, but did not show up at the hearing.
Ford dealer Larry Hill was also a bidder.
Bidding also for the Dalton dealerships was Joe Kirby of the Edd Kirby firm.
Trustee Farinash said he expects the high bidders to be easily approved by the manufacturers. He said that should happen in 30-90 days.
He said he may reach management agreements with them in the interim.
The deals do not include any inventory, buildings or property, just the dealership rights.
Trustee Farinash has been keeping the Prebul operations open, and he said a number of sales have taken place and service has continued.