Chattanooga's Compass Auction Featured In Magazine For Handling 2 Big Auctions

Tuesday, January 16, 2018

Chattanooga-based Compass Auctions & Real Estate was featured in Auctioneer magazine for handling two big auctions successfully in 2017.

The article says, "Despite two very different sellers with extremely different assets, NAA Pro Paige Holt and her team at Compass Auctions & Real Estate, a Chattanooga, Tn.-based auction and real estate company, accomplished two massive auction wins in 2017."

One was the $8.9 million sale of two large adjacent properties in downtown Nashville on behalf of the state of Tennessee

Later in the year, Compass handled a major sale for U.S. Electrical and Supply.

Bill McFerrin, owner of U.S. Electrical and Supply, called the results of the latter auction "successful beyond my wildest dreams."

In the article, Ms. Holt walked through how her team successfully handled the two big auctions.

She said each auction is different and there is no cookie cutter approach that works for all.

Scott Steele of Compass said, "The Compass Auctions & Real Estate firm, based in Chattanooga, TN, has set itself and the auction industry on an upward and positive course.

"Compass, founded in 2013, is the only woman-owned auction company with Woman Business Enterprise (WBE) certification from the state of Tennessee. Paige Holt, president of Compass Auctions, has 23 years of auction event management.  In 2017 this woman-led company made giant strides in bringing its brand of auction service to a number of diverse business sectors.

"In June of 2017, Compass Auctions & Real Estate saw culmination of the project with the state of Tennessee for the sale at auction of the James Robertson Parkway properties. This was a strategic auction sale of two land parcels located in the very popular Nashville, TN area. Seeing the potential for a multi-parcel sale Compass, led by Mrs. Holt and Vice-President Justin Ochs, orchestrated a sale at auction that resulted in a $8.925 million dollar sale. The state has originally paid less than half of that amount for the property. The marketing and positioning of the property to the public eye brought excellent response and garnered favorable interest from commercial property developers. The auction solution starting with the marketing through the settlement was one that Mrs. Holt oversaw along every step of the way.

"Being exceptionally aware of what marketing channels and what media attracts the correct bidder for the Compass Auction & Real Estate events; has been something that Paige Holt and Vice President Steven Holt have instilled into the company marketing team. The repeatedly successful efforts for Compass lead to their being selected to help the Stein Construction Company liquidate its remaining construction equipment assets. In mid-2017 Compass Auctions was honored to work with the over 100 year old business to ensure that the auction event was the most successful and well-orchestrated event possible.

"The hard work and determination of Team Compass was sought out by the U.S. Electric Company in third quarter of 2017. The 30 plus year old company was one of the largest residential and commercial electrical supply warehouses in the southeast. With a 80,000 square foot warehouse filled with 50,000 line items the company contacted Mrs. Holt and the Compass Auction team to ensure that they would be able to obtain a good return on the inventory sold at auction.

 

"With auctions that are garnering attention from bidders from coast to coast in 23 states and have an international audience, Compass is raising the bar for service to the auction seller and bidding public."

 

Of the U.S. Electric auction, Ms. Holt said, "The concept of using the auction method provided the ability to sell numerous, differing assets in the same event.

"The aim is to achieve the best possible scenario for the seller, and they have repeatedly assured us that our auction planning, marketing, and services have surpassed their expectations. And nothing is more important to us than that."

Steve Holt, vice President Operations and lead auctioneer for Compass, said, "In 2018 the company is preparing, for the first time, to have its corporate and warehouse operations teams together under one roof. This is something that has been a goal of ours since day one.

 

"It will help us visualize and conceptualize the auction process and streamline our processes, hopefully making Compass a model for others to follow and elevating the auction experience in the Tennessee Valley and beyond."

 

More about the company can be found at http://www.SoldonCompass.com

 


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