Kruse International Auctions Teetering on the Brink of Financial Collapse

[cjforumadmin]

http://www.bangshift.com/blog/Kruse-International-Auctions-Teetering-on-the-Brink-of-Financial-Collapse.html

[38P]

Re: Kruse International Auctions Teetering on the Brink of Financial Collapse

Whatever happened to "cash on delivery?" Wouldn't that solve a lot of the problems?

BTW, if they're holding any "paper" for Bernie Madoff, it's probably time for that "nuclear option" auction.

Or maybe they just need to slam back a few more cases of "Seven Plus" http://www.kruse.com/home/seven.asp

[studemax]

Re: Kruse International Auctions Teetering on the Brink of Financial Collapse

Maybe they should ask for a gooberment bailout (LOL).

[JRoberts]

Re: Kruse International Auctions Teetering on the Brink of Financial Collapse

I may be way off here and if I am let me know, but aren't the prices people bid up during such auctions as these highly inflated? If this is so, and the money is not paid at the time of the auction, why are we surprised that Kruse is failing financially. Maybe once price at such auctions return to a more realistic level, people will more easily meet their obligations and things will settle down.

[dieselgeek]

Re: Kruse International Auctions Teetering on the Brink of Financial Collapse

I don't think it's the auctioneers that drive up the prices, it's the guys with big money that do that...

And really, if there are people who pay on the day of purchase, but this guy holds the money until threatened withlegal action... and has a history of screwing people... he needs to drop the right wing "let's take out more loans" theme and start paying the piper.

I grew up in Fort Wayne and I know this family well. To say they live beyond their means is a wild understatement. This guy has a fleet of private planes, at least one jet, a helicopter... they always had the craziest boats at the Lake, etc.

[Monk]

Re: Kruse International Auctions Teetering on the Brink of Financial Collapse

What the hell am I missing here?

You go to auction.......with cash, letter of credit etc
You bid on car, you win, you pay

I read some stories awhile back where folks were waiting
almost a year to get their money from Kruse for their ride.

Needless to say, I wouldn't be taking my car there for auction.

I've got a friend who's on the board of the Auburn Museum....I'll have to
ring him up and see what his take on this is.

DG.......my home office is in Ft. Wayne.....formerly Hardware Wholesalers Inc now Do it Best Corp.

[dieselgeek]

Re: Kruse International Auctions Teetering on the Brink of Financial Collapse

DG.......my home office is in Ft. Wayne.....formerly Hardware Wholesalers Inc now Do it Best Corp.

small world! My dad, for 25 years, was a manufacturer's rep and sold to HWI exclusively...

Do you know a guy named Mike McClelland? I went to school with his son Scott. He may be retired by now... but he worked there forever. I know a bunch of other old guys who worked for HWI back in the day too.

-Scott

[Monk]

Re: Kruse International Auctions Teetering on the Brink of Financial Collapse

DG.......my home office is in Ft. Wayne.....formerly Hardware Wholesalers Inc now Do it Best Corp.

small world! My dad, for 25 years, was a manufacturer's rep and sold to HWI exclusively...

Do you know a guy named Mike McClelland? I went to school with his son Scott. He may be retired by now... but he worked there forever. I know a bunch of other old guys who worked for HWI back in the day too.

-Scott

You got to be shittin me.........I just talked with Mike this week.

As you know he was president of the company........retired now and real car
guy. He's on the board at Auburn and restoring one.

I started with the company in '71 when they opened up their first distribution center
outside of Ft. Wayne...in Cape Girardeau.
Got to meet the founder of the company, Arnold Gerberding.

Which manufacturer did your dad work for?

[dieselgeek]

Re: Kruse International Auctions Teetering on the Brink of Financial Collapse

check yer pm!