An Ooltewah mansion sold today for only a fraction of the $15 million it cost to build.
A local doctor submitted the highest bid today during an auction of the house built and owned by Elizabeth Fuller, wife of the late trucking magnate Clyde Fuller. New York-based Concierge Auctions conducted the absolute auction this afternoon, but the company declined to disclose the sales price.
The lavish mansion, which was listed at $5.3 million, had no takers for several years after Fuller moved away. The sale today is reportedly below the record high $4.15 million sale in Hamilton County last year when Billy Oehmig bought a house in the Riverview neighborhood on Edgewood Circle.
Today’s auction did not meet that bar.
Auctioneer Laura Brady would only say that Friday’s sale “represents the highest sale price in the Chattanooga area this year.” The closing is planned for June 7.
According to a news release from Concierge Auctions, a global marketing campaign brought 4,400 website visits from 44 U.S. states and 26 countries. The company eventually identified 504 prospective buyers for the 8,700-square-foot home.
Ellis Smith joined the Chattanooga Times Free Press in January 2010 as a business reporter. His beat includes the flooring industry, Chattem, Unum, Krystal, the automobile market, real estate and technology. Ellis is from Marietta, Ga., and has a bachelor’s degree in mass communication at the University of West Georgia. He previously worked at UTV-13 News, Carrollton, Ga., as a producer; at the The West Georgian, Carrollton, Ga., as editor; and at the Times-Georgian, Carrollton, ...