Excavators, dozers, backhoes, trucks and other equipment will be selling at auction on Aug. 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 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 Ms. Holt.
The live auction will begin at 10 a.m. on Wednesday, Aug. 30, at 3611 Amnicola Highway, Chattanooga.
Company President Doug Stein said the 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 Mr. Stein.
Individuals seeking additional information may visit www.soldoncompass.com.
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.