Kruse Auction license revoked

[oestek]

Uh oh..

SCM has learned that the Indiana Auctioneer Commission has permanently revoked the license of Kruse International. Kruse came before the commission on 70 counts of failing to pay people who sold vehicles at auctions.Read the full story here (http://r20.rs6.net/tn.jsp?et=1103435188401&s=46203&e=001wPHfeWU1dkR6r_Cn4K0CLLdwAj62bQbvHnrrEJ8X1bliW 3O4E6X7DY3eaZvlgiMIlcrvv0EtvuF8Rv78zN_PDFhYT6LrqVF XwiGeEdhbrlqlyqbe0HWedb22hdrl3uuE0EZRvlkzAkk1lC78G Ak2BoWXp7QyLLX0W7t4c8xRq1_zg7C-R8_-_aPvG38voAfgwFBHteaFRiXZ-neaTCedBHwxHyQN5uJ2dmHu8f3SKSdh7juKBwiWVVuH4T5rNip FK6QzLy1RiySDmrgoy5WYPjFNcvrdbyJx).

[buickfunnycar.com]

no surprise there...

[novaderrik]

but they paid almost 90% of the people that sold cars thru them...

[buickfunnycar.com]

but they paid almost 90% of the people that sold cars thru them...

lol

[dropit69]

they were at last IN show i was at seemd like a-holes..

[rednecknate]

If you read the Actual Numbers it would be interesting to see the Rest of the story 99% had been paid.. 15,000 cars and only a few not paid.. Not saying i would wanna be on the not paid .... But im willing to bet there's more to the story... If only a few hadn't been Paid... Just playing devil's advocate.. I know a few guys where there had been some dispute about Conditions of car's etc.. and maybe some of the Buyers money didn't clear or Who know's Anybody have the rest of the story.... 70 counts all but a few had been paid......Maybe guy's died Or cruse wasn't paid Or Who know's ..... This one seems pretty vauge..i am craving more details...Like was the Owner expecting More for the Car...I never Dealt with Cruse But i was actually impressed with there Honestly I had a Lifted Full blown Custom Gmc I was gonna run through And they Openly Told me Not to because it wouldn't go for anywhere near what would be fair STREET price since they Don't have the type of clientell.. Thought it was nice and honest.. But that's the only opinion i have personally dealing with them.....

[Lowend]

He said all but eight or 10 of them have been repaid, although late.
How would more than 1 be ok...
I hate people who can't run their business or pay their AP's like grown-ups

[rednecknate]

How would more than 1 be ok...
I hate people who can't run their business or pay their AP's like grown-ups
Its not ...... Just wonder what the circumstances are If 15,000 had been It not like it was 100-1 ratio...

[ProjectSideOiler]

http://www.wane.com/dpp/news/local_wane_ftwayne_Auctioneer_Kruse_investigated_f or_fraud_200910071056

they were banned from doing business in arizona too.

http://www.azcentral.com/12news/consumer/articles/2009/07/23/20090723KRUSEauctionUPDATEscript07232009-CR.html

[vintageracer]

Could not have happened to a nicer bunch of folks!!

Ever wonder why Ebay dumped (sold at huge loss) Kruse International so quickly after they purchased the company?

[Van B]

If you read the Actual Numbers it would be interesting to see the Rest of the story 99% had been paid.. 15,000 cars and only a few not paid.. Not saying i would wanna be on the not paid .... But im willing to bet there's more to the story... If only a few hadn't been Paid... Just playing devil's advocate.. I know a few guys where there had been some dispute about Conditions of car's etc.. and maybe some of the Buyers money didn't clear or Who know's Anybody have the rest of the story.... 70 counts all but a few had been paid......Maybe guy's died Or cruse wasn't paid Or Who know's ..... This one seems pretty vauge..i am craving more details...Like was the Owner expecting More for the Car...I never Dealt with Cruse But i was actually impressed with there Honestly I had a Lifted Full blown Custom Gmc I was gonna run through And they Openly Told me Not to because it wouldn't go for anywhere near what would be fair STREET price since they Don't have the type of clientell.. Thought it was nice and honest.. But that's the only opinion i have personally dealing with them.....

I am pretty sure that the people who had not been paid no longer had their cars-they were with the new owner. Kruse would collect from the buyer and not pay the seller from what I have read. If the buyer's funds did not clear that is the auction's problem. They are the ones who give the buyer a bidder badge and should prequalify a buyer's ability to pay. That is the beauty of the auction process. The seller should get a good check.

[camcojb]

after just attending the Mecum auction in Indy this past weekend, they're the way to go. Pay you the day of the auction (as a seller), can still have a reserve (for a small fee), and the quality of the cars was very high. There was definitely money at this last auction.

Jody

[BuddyP]

I drive past the auction park to and from work every day.

Went to the fall auction damn near every year. The fact that we had a large car event like that in our backyard will be missed. I hope somebody else has the funds to pick the place up and keep it going.

Kruse was a greasy guy. There's other people that weren't getting paid also (not just those not getting paid for vehicles). I believe there were around 70 people that did not get paid for their vehicles. The spring auction last weekend only pulled in maybe 150 cars and a couple hundred people.

[rednecknate]

I am pretty sure that the people who had not been paid no longer had their cars-they were with the new owner. Kruse would collect from the buyer and not pay the seller from what I have read. If the buyer's funds did not clear that is the auction's problem. They are the ones who give the buyer a bidder badge and should prequalify a buyer's ability to pay. That is the beauty of the auction process. The seller should get a good check.


Good To now a little more about it!!!! Just seems wierd the Guy was in Business SOOOOOO LOOOONNNNGGGGG !!! 50 yrs is crazy .....

Wow after Reading There story's Guy deserve's a good ol Ass kicking!!!

[DaviRotten]

My wife did some modeling for some of there auctions . Last years In show being one of them.. From the jist I got from it.. A buddy of mine was selling the Mellow Yellow movie car.. The check from Kruse bounced and he had already left the car at Kruse there in In. Kruse Auctions was getting stiffed left and right from buyers.. People would bid these cars up then back out of them for what ever reason.. Lame excuses on the condition of cars and so on jus because they got in a bidding frenzy and wrote a check there ass couldnt cash.Kruse made right on the movie car by buying it himself for the kruse collection.. But there is no way he could have done that with everyone there..

[Lowend]

There's not substitute for vetting your buyers...

If you want to buy an old police car at auction, you have to be vetted first... a $100K show car should be no different

Davi has now made it so this thread requires pics....