Chinqua Penn Plantation Prepares For Bankruptcy Auction

6:42 PM, Apr 18, 2012   |    comments
  • Share
  • Email
  • Print
  • - A A A +

Reidsville, NC - Nearly 1,000 items from the Chinqua Penn Plantation will be sold during an auction on Wednesday and Thursday next week at the Greensboro Coliseum.

Beds, curtains, plates, Ferrari's, and a Chinese Pagoda are among the items that will be sold.

The plantation was placed in bankruptcy court after the owner, tobacco executive Calvin Phelps, went into bankruptcy.

The auction has attracted interest from buyers all over the world, according to Tom McInnis of Iron Horse Auction Company, who will run the auction next week.

McInnis told News 2, "You have items that are upwards of 1,000 years old, they are one of a kind, they are priceless, museum quality."

McInnis went on to say, "Varying celebrities have had their estates liquidated in the last couple of years, they had projections of something bringing in $100,000 and it brought a million because priceless is very hard to put a price on, so that is what we are dealing with here."

The auction will take place at the Greensboro Coliseum Complex on April 25th and 26th.