Todd's Sport Shop near Kaiser Lake State Park in Conover, Ohio will soon have a new owner. United Country - Gryphon Realty & Auction Group of Columbus, Ohio conducted the auction on April 12, 2012 attended by 24 different bidder groups. Auctioneer Peter Gehres offered the property at $500,000 with no takers. The property was offered down to $50,000 before the first bid was entered and additional bids quickly advanced the price up to $410,000 ending at $415,000 plus a buyer's premium of 10%.
The video of the auction can be viewed HERE.
"This property was very desirable and hard to value, making it a perfect asset to offer at auction." said Rich Kruse, president of Gryphon USA, the parent of the auction firm.
Next steps for the property will be a hearing in the Champaign County Court of Common Pleas to review and approve the ultimate agreement followed by a quick closing. Todd's, probably under a new name, should be open for business within the next 45 days. The buyer prefers to remain anonymous at this time.
Gryphon USA, Ltd. is a multi-faceted asset management and liquidation firm focusing on the operations and dissolution of single assets through and including entire companies. Gryphon maintains a receivership and asset management group (Gryphon Asset Management - http://www.gryphonusa.com) real estate brokerage practice and commercial auction/appraisal group (United Country Gryphon Realty & Auction Group - http://www.gryphonauction.com), art, antique and pottery auction group (Belhorn Auctions - http://www.belhornauctions.com) and real property management group (partnered with Borror Properties - http://www.gryphonborror.com).
Melissa M. Kruse oversees the day to day operations of the parent company, Gryphon USA, Ltd. while Gryphon Asset Management operations are managed by Richard F. Kruse. Auction operations are directed by Peter Gehres and the property management partnership is maintained by Lori Steiner.
Read the full story at http://www.prweb.com/releases/2012/4/prweb9402239.htm