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5RM Auctions buys Kruse's Indiana Auction Park

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 locatio

10Kruse gets Indiana auction licenses revoked

The legendary Kruse auction house has hit yet another rough patch. The company that once broke the $1 million bid barrier for a classic car has had its licenses revoked in the State of Indiana. It appears that the revocation is the result of a number of complaints lodged against the house over the past year. Buyers have reported lengthy delays in obtaining the vehicles they had purchased, and some consigners had lodged complaints after not receiving payment after their vehicles were sold. Accord

8Followup: Auctioneer Kruse ordered to pay bank $1.3M, has jet repo'd

The walls are closing in on Dean Kruse, head of the Indiana-based Kruse International auction house. In September, a slew of lawsuits were filed against the company. Further opening the wound, a county court in Indiana has now ordered Kruse to pay more than $1.3 million to a bank in Warsaw -- just one of several debtors seeking money from the company -- for an overdue loan originally in the amount of $4.5 million. Two foreclosure lawsuits in DeKalb County, Indiana, are pending. One is for $6.5 m

5REPORT: Auctioneer Dean Kruse in deep financial/legal doo-doo

Kruse International, the four-decade-old, Indiana-based auction house that's moved cars like Chitty Chitty Bang Bang, is having a rough time of it. According to the Journal Gazette, lawsuits and actions have been brought against it by states, buyers and sellers – just about every entity an auction business is involved with. It isn't the first time founder Dean Kruse and his company have been in trouble, and Kruse says it's been worse before.

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