Kruse Loses Auction License. Now What?

Kruse International Auctions had their auction license pulled by the Indiana Auctioneering Commission last week for multiple complaints of non-payment to sellers. Yikes. I wonder how this might affect the auction community and whether this experience will create a mistrust of selling at auction that will spread to other houses. Does Kruse’s poor practices taint the wider collector car auction market? Will collectors treat this is an isolated incident unique to this auction house?

Interestingly, the Kruse homepage currently directs visitors to Auburn and Leake auction houses. I don’t know that I’d happily take Kruse’s endorsement right now.

Update: Sports Car Market reports that RM will be announcing that they have purchased Kruze…

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