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MUSCLECARMAGMAN
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MUST READ AUCTION INFO
« on: April 25, 2009, 05:58:03 am »
http://board.moparts.org/ubbthreads/showflat.php?Cat=0&Number=5186734&page=0&fpart=all&vc=1&nt=2

http://www.classiccar.com/forums/showthread.php?p=100286

Ramrod39
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Reged: Jan 20 2003
Loc: Tucson, AZ   1969 Road Runner stolen by Kruse auctions? 
      #5186734 - Fri Apr 24 2009 11:50 PM   Edit     Reply     Quote     Quick Reply   
 
 

Back in february, I decided to part with my '69 Road Runner to help pay off my house. It just so happened that Kruse International was holding a collector car auction here in Tucson on Feb 27 and 28.

Kruse bills themselves as the "world's largest collector car sales organization" and claims to have been doing collector auctions since 1971. I put my car in the Tucson auction.

My car sold on February 28 and I am due $17,500 according to my copy of the Bill of Sale. Per the instructions of the on site Kruse staff, I signed the title over and left the car with the Kruse. To the best of my knowledge it went to New Mexico the following day. The fine print says I am to be paid within 30 days of the sale. It has now been 55 days since the car sold and I have no check and no car.

I have been trying to find out what is going on via the telephone for about 4 weeks now. I have never received a return call. At first, I was told payments were finalized by a Vice President named Fred Gittens (sp?). He never responded to any of my many messages. About a week ago, I was told a bunch of checks were on the desk of Dean Kruse awaiting signature. There have been other excuses (software problems, etc.)

An attorney friend of mine has called them a few times and he is getting the run-around too. I think he will be sending them a demand letter next.

I have spoken with the gentlemen here in town who arranged to have Kruse come here and, as of a week ago, he and others who sold cars at this auction have not been paid either.

I'm not sure what else I can do. I'm considering reporting the car stolen and contacting my insurance company (Haggerty).

I'm also thinking of contacting local media outlets (TV and newpapers) that did stories on the auction.

I may even try and contact Tucson's mayor as he was up on the stage for the opening of the auction to welcome Kruse to town.

Kruse is still doing auctions according to their website. They have completed events in San Diego and Las Vegas since the Tucson auction and have one scheduled for April 25 in Amarillo.

Anybody know anything about Kruse? Is this how they always operate or am I getting ripped off? What else can I do? 

 
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day2nova
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Re: MUST READ AUCTION INFO
« Reply #1 on: April 26, 2009, 04:29:00 am »
Auction house doing a Bernie Madoff or just a slow payer?
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MUSCLECARMAGMAN
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Re: MUST READ AUCTION INFO
« Reply #2 on: April 26, 2009, 03:44:01 pm »
3 months is a long time.
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Re: MUST READ AUCTION INFO
« Reply #3 on: May 02, 2009, 12:14:02 pm »
 
Front page article this week in the Kendallville, Indiana News-Sun newspaper that Kruse is being sued by his bank for non payment of some pretty serious loans dating back to when he repurchased the company from ebay. The article goes on to say that a number of sellers are upset for not getting paid for their cars after the sale. Kruse attributes it to letting some buyers take possession (seriously?) before paying for the vehicles and a bad economy overall. He says that all buyers should be up to date after the upcoming May classic car auction to be held here at his facility in Auburn. Sounds to me like robbing Peter to pay Paul. I guess overall I am just sooo tired of hearing these crook stories, doesn't anyone have any ethics anymore? Good Luck my friend I hope it works out for you.

Joey


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MUSCLECARMAGMAN
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Re: MUST READ AUCTION INFO
« Reply #4 on: May 09, 2009, 12:43:24 pm »
http://www.azstarnet.com/metro/292176
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MUSCLECARMAGMAN
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Re: MUST READ AUCTION INFO
« Reply #5 on: August 07, 2009, 07:24:53 am »
http://board.moparts.org/ubbthreads/showflat.php?Cat=0&Number=5402565&an=0&page=0&gonew=1#UNREAD

Hard to believe blaming slow paying vendors.At any auction you must be pre-approved with a line of credit.
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MUSCLECARMAGMAN
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Re: MUST READ AUCTION INFO
« Reply #6 on: August 11, 2009, 06:11:35 am »
http://board.moparts.org/ubbthreads/showflat.php?Cat=0&Number=5409891&an=0&page=0&gonew=1#UNREAD
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day2nova
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Re: MUST READ AUCTION INFO
« Reply #7 on: August 11, 2009, 06:30:33 pm »
Lot's of Bernie Madoff type ponzi schemes out there.  Like what one poster said on moparts-wait until it all comes crashing down. I predict a huge wave of muscle car dealers  and restoration shops next. Pick up an  "Auta Buy" magazine- all the same cars for sale as last year are still in the ads a year later and way too many dealers.

2001 to 2007 was just a scam on the America people. Over inflated houses let people buy stuff with bogus home equity like drunken sailors all the while the country was offshoring and outsourcing jobs and allowing in illegals in record numbers.

Short sighted greedy ceo's just looking for next quarters high profits long enough to get their $$$$$ multi million bonus (and then split), sold off our SEED CORN (manufacturing and technological base) to china for pennies on the dollar and now we are buying the crops from china and people wonder why our household net worth has gone from $68 trillion to 49 trillion in 2 years time. ..and still dropping  and predicted to drop or b stagnant for years to come.

Sooner or later the piper comes calling.

Oh well lot's of rope and lampost in this country.

Off my soapbox for now.
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Re: MUST READ AUCTION INFO
« Reply #8 on: August 12, 2009, 06:11:05 am »
http://www.oldcarsweekly.com/article/Crawford_auto_aviation_museum_auction/
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Re: MUST READ AUCTION INFO
« Reply #9 on: August 13, 2009, 06:38:34 am »
Unbelievable! If it was my car, I would personally go the the offices of Kruse Auctions and collect my money. it's amazing that anyone would continue to list their cars in any of their auctions. Sounds like a business on the verge of folding.  Huh
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Re: MUST READ AUCTION INFO
« Reply #10 on: August 14, 2009, 11:36:43 am »
Dave 48% of the country believed things are fine 52% of the people saw a problem.The 48% are still spending the 52% slowed down.There is no more feeding frenzy I don't care what anyone says.Is there still people spending.Yes.But the frenzy spending dropped by about 90%.
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Re: MUST READ AUCTION INFO
« Reply #11 on: August 30, 2009, 02:29:50 pm »
http://www.journalgazette.net/article/20090830/LOCAL/308309932
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Re: MUST READ AUCTION INFO
« Reply #12 on: August 30, 2009, 03:40:56 pm »
Unbelievable. A person would need their head examined if they go forth placing their car in that auction.
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Re: MUST READ AUCTION INFO
« Reply #13 on: September 01, 2009, 11:05:50 am »
QUOTE MOPARTS.COM :Probably. The Tucson people were put off for months with the story that we would all be paid after the Auburn Spring event. Eventually, we were. But guess what? Now it appears sellers from the Auburn Spring event (in May) are being told they will be paid after Auburn Fall (this weekend).


No one saw this coming.
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MUSCLECARMAGMAN
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Re: MUST READ AUCTION INFO
« Reply #14 on: September 17, 2009, 07:44:40 am »
http://www.oldcarsweekly.com/article/kruse_international/
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day2nova
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Re: MUST READ AUCTION INFO
« Reply #15 on: September 17, 2009, 10:18:03 am »
Kaputt---sooner rather than later I predict. I think the giant snowball is nearing the valley floor.

So if it goes belly up who is out? The new owner or the old owner of the vehicle??

Lawsuits for years to come.
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Re: MUST READ AUCTION INFO
« Reply #16 on: October 09, 2009, 07:14:53 am »
http://www.news-sentinel.com/apps/pbcs.dll/article?AID=/20091008/NEWS/910080317
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Re: MUST READ AUCTION INFO
« Reply #17 on: December 02, 2009, 09:52:38 am »
http://www.oldcarsweekly.com/article/kruse_bank_loan/
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Re: MUST READ AUCTION INFO
« Reply #18 on: December 18, 2009, 01:06:11 pm »

Finally shilling has come to light.

http://www.journalgazette.net/article/20091217/LOCAL03/312179976/-1/LOCAL11
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Re: MUST READ AUCTION INFO
« Reply #19 on: January 13, 2010, 08:05:13 pm »
Incredible

http://www.azcentral.com/12news/consumer/articles/2010/01/13/20100113Kruse-Valley-Return-Auction-01132010-CR.html
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Re: MUST READ AUCTION INFO
« Reply #20 on: July 01, 2010, 11:40:30 am »
http://www.oldcarsweekly.com/article/RM-purchase-of-Kruse-Auction-Park/
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Re: MUST READ AUCTION INFO
« Reply #21 on: July 05, 2010, 09:28:30 am »
http://www.russoandsteele.com/pdf/Tulsa.pdf
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