Russell W. Kruse
Encyclopedia
Russell Wayne Kruse was an American
auctioneer best known for building the business of auctioning classic car
s through Kruse International
.
Born in Auburn, Indiana
, he took up farming after graduating from high school. After losing crops to flooding two years in a row, he took up auctioneering to cover the costs of raising his seven children. He attended the Reppert School of Auctioneering
in December 1952 and started a local real estate and farm auction business.
In 1971, the Auburn Chamber of Commerce needed fundraising for their annual classic-car show. Kruse suggested auctioning off some of the antique cars. When a bidder's $61,000 bid for a locally-made Duesenberg
was turned down, the press picked up the story, and his fame as a car auctioneer took off. He started the Kruse Auction Institute in 1972 to give pre-licensing training to auctioneers. Russell was on the original Indiana Board of Auctioneers and served as chairman. He was also a past president of the Indiana Auctioneer's Association, and a member of their hall of fame, along with two of his son's - Dean Kruse and Dennis Kruse.
Because of the lucrative divisions that auctioned real estate
and oil field equipment, ITT
bought Kruse International in 1981, but the family bought it back in 1987. eBay
then bought the company in 1999 but sold it back in 2003. Three of his sons are involved in the auction business: Dean Kruse
, Dennis Kruse
and Daniel Kruse, as well as eight grandchildren.
His first wife, Luella (Boger), the mother of his seven children, died in 2000. Kruse died in Fort Wayne, Indiana
of a stroke
, aged 84.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
auctioneer best known for building the business of auctioning classic car
Classic car
A classic car is an older car; the exact meaning is variable. The Classic Car Club of America maintains that a car must be between 20 and 40 years old to be a classic, while cars over 45 years fall into the Antique Class.- Classic Car Club of America :...
s through Kruse International
Kruse International
Kruse International is an auction firm founded by Russell Kruse in Auburn, Indiana in 1952. The company began as a local auction company selling real estate, farms and personal property run by Russell Kruse and his sons Dean, Dennis, and Daniel...
.
Born in Auburn, Indiana
Auburn, Indiana
Auburn is a city in DeKalb County, Indiana, United States. The population was 13,086 at the 2010 census. Founded in 1836 by Wesley Park , the city is the county seat of DeKalb County. Auburn is also known as Home of the Classics.-Geography:...
, he took up farming after graduating from high school. After losing crops to flooding two years in a row, he took up auctioneering to cover the costs of raising his seven children. He attended the Reppert School of Auctioneering
Reppert School of Auctioneering
The Reppert School of Auctioneering is the world's leading auctioneer education provider, since 1921. It is located at the in Indianapolis, Indiana.- History :The Repperts School of Auctioneering was founded in 1921 by Col. Fred Reppert of Decatur, Indiana...
in December 1952 and started a local real estate and farm auction business.
In 1971, the Auburn Chamber of Commerce needed fundraising for their annual classic-car show. Kruse suggested auctioning off some of the antique cars. When a bidder's $61,000 bid for a locally-made Duesenberg
Duesenberg
Duesenberg was an Auburn, Indiana based American luxury automobile company active in various forms from 1913 to 1937, most famous for its high-quality passenger cars and record-breaking racing cars.-History:...
was turned down, the press picked up the story, and his fame as a car auctioneer took off. He started the Kruse Auction Institute in 1972 to give pre-licensing training to auctioneers. Russell was on the original Indiana Board of Auctioneers and served as chairman. He was also a past president of the Indiana Auctioneer's Association, and a member of their hall of fame, along with two of his son's - Dean Kruse and Dennis Kruse.
Because of the lucrative divisions that auctioned real estate
Real estate
In general use, esp. North American, 'real estate' is taken to mean "Property consisting of land and the buildings on it, along with its natural resources such as crops, minerals, or water; immovable property of this nature; an interest vested in this; an item of real property; buildings or...
and oil field equipment, ITT
ITT Corporation
ITT Corporation is a global diversified manufacturing company based in the United States. ITT participates in global markets including water and fluids management, defense and security, and motion and flow control...
bought Kruse International in 1981, but the family bought it back in 1987. eBay
EBay
eBay Inc. is an American internet consumer-to-consumer corporation that manages eBay.com, an online auction and shopping website in which people and businesses buy and sell a broad variety of goods and services worldwide...
then bought the company in 1999 but sold it back in 2003. Three of his sons are involved in the auction business: Dean Kruse
Dean Kruse
Dean V. Kruse is an auctioneer and owner and CEO of Kruse International. Kruse started working in the local auction business founded by his father, Russell W. Kruse, and soon became the company's president...
, Dennis Kruse
Dennis Kruse
Dennis K. Kruse is an auctioneer who was a founder of what became Kruse International. Dennis Kruse started working in the local auction business with his father, Russell W. Kruse, and older brother Dean Kruse. They were later joined by his younger brother Daniel J. Kruse, and started what would...
and Daniel Kruse, as well as eight grandchildren.
His first wife, Luella (Boger), the mother of his seven children, died in 2000. Kruse died in Fort Wayne, Indiana
Fort Wayne, Indiana
Fort Wayne is a city in the US state of Indiana and the county seat of Allen County. The population was 253,691 at the 2010 Census making it the 74th largest city in the United States and the second largest in Indiana...
of a stroke
Stroke
A stroke, previously known medically as a cerebrovascular accident , is the rapidly developing loss of brain function due to disturbance in the blood supply to the brain. This can be due to ischemia caused by blockage , or a hemorrhage...
, aged 84.