The $6.5 million contents of the buildings at the luxury travel-trailer manufacturer Teton Homes were sold for slightly more than $1 million at a Sheriff's auction Thursday morning on the front steps of the Natrona County Courthouse.

Zions First National Bank made the only bid for the personal property and fixtures - except motor vehicles - and its attorney signed the paperwork after the auction.

Sheriff's deputy Gus Holbrook stood in front of the courthouse, declared the auction open at 10:30 a.m. sharp, and read the foreclosure sale notice from Zions.

Bank attorney Harry Durham requested Holbrook to not read the more than two pages detailing the equipment, including woodworking machines, welding systems, work platforms, a 25-foot by 65-foot paint booth, ventilation systems, monorails and hoists, lockers, office furniture, raw materials, and three patents and three trademarks.

The equipment was sold as one lot, and Zions took it all.

It was over in five minutes.

"Zions had the first lien on the real and personal property," Durham said.

Only the personal property - basically anything that can be picked up and moved - was sold, Durham said. The future of the buildings at 3283 N. 9 Mile Road is uncertain, he added.

Durham wasn't sure what the next step would be in the aftermath of the 41-year-old company known for its high-end trailers, bought by movie stars and royalty including Robert DeNiro, Danny DeVito, Michael Douglas, Kathleen Turner and Princess Stephanie of Monaco.

The company was founded in the late 1960s by Robert Ingram, who sold the controlling share of the company to Webster Capital Investment Co., in 2005. Webster Capital borrowed $8 million from Zion's Bank in April 2005, and the note was signed by Webster general partner and Teton Homes Corp. President Charles Larkin.

Last month, Webster Capital announced Teton Homes was contemplating a substantial restructuring but no layoffs.

But company officials were telling customers that the company was shutting down. The closure meant that warranties on the all Teton Homes products were void, according to an employee who responded to questions on Sept. 15.

Meanwhile, Teton Homes defaulted on the loan, owing $6,475,408.30 plus other fees.

Larkin did not return a call on Thursday.

Teton Homes' CEO Chris Braun attended the auction, but said he could not comment.

Braun referred questions to Teton Homes official Tom Kim in Colorado. Kim did not return calls requesting comment.

Local business leaders voiced their puzzlement about the fast collapse of the renowned company with 150 employees.

"Yes, it is a surprise," said Robert Barnes, president of the Casper Area Economic Development Alliance.

Barnes heard the rumors a few weeks ago about possible problems at Teton Homes and was assured the business was restructuring but would not endure layoffs. "We reported that to our executive committee."

CAEDA and other officials visited the company in late spring to find assembly lines building both high-end recreational vehicles and skeds for oil field man camps, Barnes said.

Other RV manufacturers have fallen on hard times, but Barnes thought the dual revenue streams from RV buyers and oil field service companies would sustain Teton Homes, he said.

CAEDA discussed possibilities for work force training and paying for a paved road, Barnes said, adding no agreements resulted from those talks.

But the loss of 150 workers disturbed Barnes, who said he would contact the local office of the Wyoming Department of Workforce Services.

Some former Teton Homes employees have been hired by local businesses such as Stalkup's RV Superstore, Ray Stalkup said.

As one of Teton Homes' largest dealers, Stalkup expressed disappointment in the company's demise.

"I still don't understand whey they couldn't make it," he said.

Stalkup believed the problems really began when Webster Capital took over Teton Homes, he said. "Most of it you can blame on bad management."

Now that the manufacturing equipment, office furniture, raw materials and patents have been sold, Stalkup said Zion's Bank has two options.

It could liquidate the equipment in subsequent auctions, or it could find another manufacturer, he said.

The ex-employees with skills in metal and woodworking will have no problem finding jobs, Stalkup said.

But he and the customers will be hurting financially for a while, he said. "The check's not in the mail."

Reach Tom Morton at (307) 266-0592, or at Tom.Morton@trib.com.