Kruse auctions' year-long trek to the abyss continues apace. In 2009, Dean V. Kruse's troubles flared up in Indiana due to mounting lawsuits from consignors who were never paid after their cars were sold, as well as banks that hadn't been paid for credit or loans. A $1.3 million judgment against Kruse and a repossession of his private jet followed soon after, and last month Kruse had his Indiana auction license revoked. Although Kruse could have petitioned to get his Indiana Auction Park location license back after two years, the 235-acre parcel has instead been sold to RM Auctions.
In what looks like a seamless handoff, RM will simply take over what Kruse started forty years ago, hosting classic and custom car auctions along with the Auburn, Cord, Duesenberg Festival over Labor Day weekend. The move will keep a good thing going and has hopefully made things better for Kruse himself; perhaps he can now focus on his court issues in Indiana and Arizona. Hat tip to Ric
[Source: Sports Car Market]