WOTS

The Masters Antiques building, 241 Broad Street, did not sell at auction May 16, but is now under contract to a local buyer, according to representatives of Dempsey Auction.

Dogged persistence on the part of a local auction sales team and some movement on the part of both the buyer and seller has resulted in a contract for the Masters Antiques building, 241 Broad Street.

The property was included in an auction conducted by Dempsey Auction on Thursday, May 15.  In addition to the building in the 200 block, the sale also included the 110-112 Broad Street building in the Cotton Block.

When the auction peaked out, high bids were not really what either owner was hoping for, according to Lou Dempsey, however everyone agreed to continue negotiations and a deal was struck for the antique shop.

Tom Lindsay, an agent with Dempsey Auction, said he was not at liberty to identify the purchaser at this time however he did say that the buyer is local.

One of the issues with the building is a roof that is in need of major work, according to another bidder for the for the property.

Lindsay said the building has been in the Masters family since 1993. He said the owner plans to move most of the antiques to a shop in Philadelphia, Pennsylvania. Lindsay, a city council member in Cave Spring, also said that leaders town are trying to convince Karen Masters to open a new location there.

Meanwhile, Dempsey confirmed that negotiations for the 110-112 Broad Street building are also continuing. It is unclear whether or not the prospective buyers are interested in keeping the property as a pizza restaurant. It was renovated for that purpose several years ago by a Carrollton businessman, but the Rome shop never opened. It is however fully stocked with new pizza ovens and other kitchen equipment