kruse international
kruse international .
international directory of company histories. . retrieved july 09, 2018 from urltoken urltoken
kruse international .
international directory of company histories. . encyclopedia. com. (july 9, 2018). urltoken
the kruse international car auction was clicking on all cylinders labor day weekend, in the first year at its mammoth new site south of auburn .
on july 1, 1992, mitch was met at the doors of kruse international’s corporate building by two members of the criminal investigation division of the irs .
kruse international prospered along with the nation’s economy in the 1990s. by the end of the decade, it looked appealing to one of the. com boom success stories. internet auction giant ebay bought kruse international, hoping to expand its business model into automobiles. dean kruse became the company’s chief auctioneer for live settings, while ebay tried to establish the company online .
“it was better than we expected, and we expected it to be great, ” said mike butler, who managed the 300 - acre site for kruse international .
the success of kruse international, both with classic cars and its real estate and oil field equipment sales, caught the attention of international telephone and telegraph corporation, which bought the company in 1975. the auction house, now known as i. t. t. kruse international, continued to be run by the kruse family, with dean having succeeded his father as the driving force. the auburn sale became a three - day event in 1976 and continued to grow through the rest of the decade. with i. t. t .
a 70 - count complaint filed by the indiana attorney general’s office initially counted kruse international debts of about $ 1. 5 million, but by early last week mr. kruse had reduced that amount to $ 300, 000. mr. kruse is required to submit quarterly reports to the commission documenting progress on debt payments .
auction giant ebay, making clear that online is the place it wants to be, will divest itself of collector car business kruse international, which was acquired several years ago to help with the launch of ebay motors .
by 2002, ebay had grown frustrated in its efforts to master a new business, and dean kruse bought his company back for a fraction of the price ebay paid. for a third time, kruse international operated as a locally owned business. but the third time would not be charmed .
., the premier online auction site, bought kruse international for stock worth $ 165 million. at the time kruse was generating nearly $ 130 million in annual sales. ebay had been formed just four years earlier when french immigrant software programmer pierre omidyar created an online auction service to help his fianc
the san jose, california, company said it would issue shares worth a total of $ 275 million for billpoint and kruse international, with the deals due to close by july. ebay declined to specify the purchase prices separately .
kruse international, the indiana auction company that has been a major player in collectible car sales for nearly 40 years, had its license revoked and was fined $ 70, 000 by the indiana auctioneer commission last week. the commission also suspended the company’s owner and auctioneer, dean kruse, for two years .
the auction company’s annual labor day auction is a big event in the auburn, ind. , area. according to the associated press, mr. kruse said he hoped the sale would not have to be canceled. alternative plans reportedly include finding another company to stage the auction or selling kruse international and its property .
now using the name kruse international, the company bought land south of auburn along interstate 69 and built kruse auction park, a sprawling complex of large buildings to house its events. through 1988, the company had conducted its local auctions on the grounds of dekalb high school. moving the auctions indoors eliminated rain and mud as a threat to their success .
s rm auctions, inc. , whose events were covered by the espn channels, kruse international remained a major force in vintage cars while enjoying greater diversity, involved in real estate sales, drilling and well service equipment, classic aircraft, collectible tractors, and paintings .
like a pioneer aviator, kruse soared high and crashed to earth, again and again .
kruse international, a 75 - employee company based in auburn, indiana, has a premium name in the collectible car market, swette said. it has about 400, 000 registered collectors, helps locate parts for out - of - stock cars, and provides other information and services to car collectors .
he has auctioned for royalty, heads of state, numerous celebrities, and top classic car collectors in the world. kruse auctions currently airs on fox sports network through a tv series called bidding wars. he was the youngest licensed realtor in the nation and the first to sell a vehicle for a documented $ 1 million cash. for 17 years, mitch was owner, ceo, and auctioneer of kruse international, the world’s largest collector car sales organization .
about kruse international with more than sixty years in the real estate and auction business, kruse international has become a nationally and internationally recognized company in the sale of real estate by private treaty and by the auction process. kruse international has conducted auctions in forty - four states and eleven foreign countries giving it unprecedented experience in this method of marketing. kruse pioneered the multi - property real estate auction selling three hundred sixty - five properties in one auction. since that time, the company has sold hotels, motels, industrial complexes, sports facilities, warehouses, commercial businesses, shopping centers, office buildings, apartments, race tracks, exclusive residential estates, diamond mines and even three entire towns. these successes provide the experience that obtains results. kruse international is also known as the largest collector car auction company that sells more vintage cars than all other firms combined. together, the kruse family has broken more than 250 world record prices in the collector car industry. dean kruse, the current owner and president, cried his 5, 000th auction in august of 1987 becoming the youngest individual to attain that goal. he has been building on that total since that time. the company conducted the world' s first annual consignment collector car auction in auburn, indiana in 1971. since that time the kruse fall auction, held each labor day weekend, has become the world' s largest event of its kind and annually draws 5, 000 collectible vehicles for sale and 200, 000 attendees. this event is the fourth largest spectator event in indiana, surpassed only by the indianapolis 500, the brickyard 400, and the indiana state fair. the company prides itself on being associated with other professional auctioneers throughout the united states and on providing the highest level of customer service. this coupled with dedicated employees and support personnel create an atmosphere of expertise and unequaled selling success .
based in auburn, indiana, kruse international is a family owned and operated auction house, best known as a pioneer in vintage car auctions. although other vintage car auction companies have become better known with the general public through live television coverage of their events, kruse boasts that it sells more vintage cars than all of its rivals combined. all told, the company hosts more than 30 events around the country, selling some 13, 000 cars each year. the company claims to have broken more than 250 world record prices in the field. kruse also offers appraisal services and collector car insurance, and hosts seminars on car collecting. moreover, kruse auctions off recreational vehicles and other kinds of property, including real estate, drilling and well service equipment, classic aircraft, collectible tractors, and paintings. kruse has even sold factories, zoos, railroads, islands, and three complete towns. the company is owned and headed by dean kruse, a member of the second generation of the founding family .
in his honor, the family announced that it would play a recording of him singing his signature song before each kruse auction .
for nearly 50 years — half of this newspaper’s history — no single person has dominated its headlines more than dean kruse of auburn .
a worldwide recession that struck in 2008 turned out to be a blow that floored kruse so hard, he finally could not get back up. the barrage of lawsuits that hit kruse made his late 1970s crisis seem like a joyride. back then, the court cases chiefly involved customers. this time, court cases filed by large banks revealed that kruse had mortgaged his company and even his museum for millions of dollars .
s offline business, but the auctions at auburn, scottsdale, and elsewhere continued to thrive as the vintage car market finally won back the value lost a decade earlier and enjoyed a new surge in interest. however, under ebay, kruse was not able to take advantage of this renewed enthusiasm, and in fact the company closed auctions in a number of cities, leaving them to the competition. by the fall of 2002, ebay elected to focus on its internet business and sell kruse, which had seen its revenues cut in half since the 1999 acquisition. ebay kept its promise to offer the company back to dean kruse, and in early 2003 he bought kruse international for an undisclosed amount of money, although it was reported that he borrowed $ 22 million to complete the transaction. he also told the press that he was overjoyed to be back in charge .
later in 1972 kruse held its second auburn auction, which was relocated to dekalb high school. among the 150 cars put on the block was
kruse international began as a real estate auction company in auburn in 1952, founded by russell wayne kruse and his father - in - law, lester boger. kruse was born on a dairy farm outside of auburn in 1922, the son of german immigrants. he started out helping his father and then moved on to larger farms before taking on considerable debt to lease 400 acres of land in the area and raise his own herd of 63 holsteins. early in the 1950s, however, he was in need of a new livelihood to support his wife and seven children (having married at the age of 18) after consecutive years in which the wabash river flooded his fields so severely that he claimed he could catch fish with a pitchfork in what should have been a cornfield. in his spare time, kruse served as a vocal soloist at weddings and funerals, prompting his father - in - law to suggest kruse consider becoming an auctioneer. boger was familiar with the business, having served as a clerk at auctions. thus encouraged, kruse completed a two - week course at the reppert school of auctioneering in decatur, indiana, perfected the unique staccato rhythms of the auctioneer
for mitch kruse, auctioneering was an art and a life. his father and grandfather were famous auctioneers specializing in collector cars and real estate. however, when mitch was a freshman in high school, his father hit financial problems. by the time he was a senior, mitch was faced with the decision to follow his success in basketball into college or attend indiana university and restore the family’s auction business. he decided on taking the latter route. as a senior in college, mitch formed kruse international which innovated the auction industry, producing 50 annual events that reached millions of automotive enthusiasts across the globe, offering 15, 000 + collectible vehicles, before producing the first auction broadcast live via satellite .
kruse used some of his income from selling the company to establish the dean v. kruse foundation and build the spacious world war ii victory museum on the west side of i - 69, across from the auction park. he purchased an extensive collection of world war ii military vehicles from a museum in belgium and shipped them to auburn .
on sept. 5, 1989, the evening star published a report on the first collector car auction at new kruse auction park south of auburn. excerpts from that story :
s success decided to hold his own auction. he brought in leo gephart, a phoenix used car dealer who dealt in both used and rare cars, and they invited the kruse family to participate. in late 1971 dean kruse flew into town and the three men agreed to hold a consignment auction at the safari hotel in scottsdale in hopes of attracting car collectors from around the world. barrett then brought in a scottsdale friend to help organize the event, russell jackson. barrett and jackson had worked together previously on a pair of successful car show fund - raising events. the scottsdale auction was a two - day event held in january 1972. it was attended by 3, 000 people and generated almost $ 600, 000 in sales volume. its success established the auction as an annual event in scottsdale, with kruse remaining involved until the mid - 1970s, when barrett and jackson decided to go it alone, establishing the barrett - jackson classic car auction, and giving birth to a major rival to kruse international: the barrett - jackson auction company l. l. c .
ebay was reportedly forced to lay off more than half of butterfields' staff during its ownership. kruse employees reportedly were notified of ebay' s plans to sell the company on wednesday .
a tradition at a kruse auction, about 80 cars on consignment were put up for sale. the auction attracted an estimated 17, 000 people, although the exact number was difficult to determine .
, a man who had assembled one of the best private car collections in the world. owning 80 cars, barrett decided the time had come to winnow down his collection, and inspired by kruse
an era came to an end in may 2007 when russell kruse passed away at the age of 85 following a stroke. until the very end the farm boy who turned auctioneer and conducted sales throughout
high - end fine arts auction house to london - based bonhams auctioneers. ebay used butterfields the same way it used kruse: as a way to get into an area where it had little expertise .
kruse indeed played the role of a pioneer in his field. in the early 1970s, he and his family virtually invented the business of auctioning collectible cars. before long, they found it to be a boom - and - bust proposition. after the first down cycle in the late 1970s, dean kruse carried on alone until his son, mitchell, joined him in the business a decade later .
but kruse did work out a happy ending for the community, finding an established auction company, rm auctions, to buy his auction park and maintain auburn as a center of the collector car world .
the company will remain in indiana, but the new bidding engine will be run out of ebay' s san jose headquarters. ebay plans to continue the real - world car auctions that kruse now runs .
… auctioneers sold as many cars as the clock allowed in six days this year, running the saturday session until 2 o’clock in the morning. chief auctioneer dean kruse’s voice was like a blown engine by monday .
kruse sold his company to investors to keep it afloat, and by the late 1980s, he had worked his way into a position to buy it back, this time with his son, mitchell, as president .
once paypal is fully integrated into ebay, the auction giant also plans to shut down billpoint, its former online payment service. both billpoint and kruse were acquired in 1999 in a deal valued at about $ 275 million .
s backing, kruse also became the major auctioneer for the sale of classic car collections around the country. in 1980 the auburn auction saw 754 cars put up for bid, followed by 860 cars the following year, when
the key blow came when indiana took away kruse’s license as an auctioneer, one of the very first granted by the state. that left him helpless to work his way out of his debts the way he had in the past .
that' s how we regard the good people who make up dan kruse classics. it takes a lot of work and dedication to put on a top - notch event and we’ve got the best in the business working with us .
the first kruse car auction took place on labor day 1971. kruse worked for his father, russell, in the family auction business. they collaborated with leaders of the local auburn cord duesenberg festival, which celebrates classic cars built in the city in the 1920s and 1930s. searching for a way to pay for a museum to house the cars and salute the city’s history, they came up with a plan to sell collector cars in an auction and make money from commissions on the sales .
for the first time, but not the last, kruse found himself besieged by lawsuits from people who sold cars at his auctions and didn’t get paid. he stubbornly rejected advice that he should file bankruptcy and set about slowly repaying his customers, seeking to rebuild trust .
with a combined 200 years experience in the auction event process, our team shines when the curtain goes up. we' re dedicated to providing the smoothest transfer of sale and do our level best to make sure your experience with dan kruse classics a thoroughly enjoyable one .
in 1999 god provided mitch a way to leave kruse international. he sold his company to ebay and attended seminary. he now teaches others on the value of a life restored in christ. in his book, restoration road, mitch talks about four primary desires. these are god - given desires that reside in each one of us. every choice, thought, prayer, and feeling is connected with every investment of time, talent, and treasure by the heartbeat to satisfy these desires. the first primary desire is significance, which comes from being created in god’s image. the second desire is contentment from being blessed by god to be fruitful, multiply, and subdue the earth. the third desire is control, being empowered by god to rule over the earth. the fourth desire is security from being provided with every seed - bearing plant and fruit - bearing tree .
when asked to help raise money for the auburn cord duesenberg car club, which sponsored the annual festival but was losing money, kruse suggested that, since some of the cars were already scheduled to be sold, a consignment auction of vintage cars during the festival could be used as a fund - raiser instead of auctioning off the other goods the chamber of commerce had in mind. his idea was accepted and in 1971 the first auburn labor day vintage car auction was held in a field near interstate i - 69. after russell kruse began the proceedings by singing
the kruses’ first hard landing came at the end of the ’70s, when a recession marked by the double jeopardy of high unemployment and runaway inflation gripped america. as dean kruse would learn more than once, collector cars are a luxury that people don’t buy when their budgets turn tight .
the action was taken in response to complaints from sellers who claimed the company had not paid them for automobiles that it sold. according to the associated press (via bloomberg businessweek), mr. kruse said that his financial problems were largely the result of buyers not paying for their purchases .
billpoint enables person - to - person credit card payments over the internet, helping buyers and sellers settle up, while kruse runs approximately 40 car auctions each year, selling about 14, 000 vehicles. it also employs specialists who appraise, authenticate, and rate a wide range of automobiles and networks with collectors and dealers around the world .
as his legacy, kruse left auburn as a tourist destination with three museums in which he played a key role. he served as one of the founders of the national auto & truck museum, conducted auctions that paid for saving the auburn cord duesenberg automobile museum and started the museum that today is known as the national military history center .
even without the giant kruse auction, numerous cars will go on the block in the auburn area, mr. wolff said. the world wide auction is slated for that weekend, and the classical event auction, which specializes in high - end cars, will take place in an indoor sports arena across the street from auburn’s dekalb high school .
dean kruse moved quickly to rebuild the business. to make up for the sales shut down by ebay, annual auctions were launched in new york city; biloxi, mississippi; tampa, florida; billings, montana; and monterey, california. kruse also invested in improvements to the auburn facilities in order to make greater use of them. given that it was much less expensive to host an event in auburn than elsewhere in the country, the investment led to increased profits. in a matter of two years three auctions were added to the auburn site, making a total of five annual sales. they included a noreserve auction for collector cars, recreational vehicles, and motor coaches, the national corvette show & auction, and an auction for street rods and customer cars as part of an event called the annual fun run nationals. the auburn grounds were also rented out for vehicle shows, such as the sports car club of america and the american truck historical society .
but before kruse began his career as a car auctioneer, he gained prominence in politics. he became dekalb county’s republican chairman in 1964, claiming to be the nation’s youngest chairman at age 23. in 1966, he won election as the youngest state senator in indiana, and he said that at age 25, he also was the youngest in the nation. his senate career lasted only four years, though he maintained a lifelong interest in politics, serving as a republican county chairman and rubbing shoulders with national leaders as head of the national association of realtors political action committee .
in 1989 the auburn auction was moved to a new facility, kruse auction park, where three duesenbergs received bids of more than $ 1 million each, led by the $ 1. 8 million paid for a 1933 duesenberg j 386. the event was also noteworthy because the financial news network aired three hours of the auction. the following year, the 20th auburn auction featured 3, 000 vintage automobiles and a separate collectibles auction. the event expanded further in 1991 to include three other auctions: the marhanka antique truck & tractor collection, the wayne sawyer collection, and the fitterling collection & farm .
s business development people, simon rothman, was responsible for taking ebay into automobiles, the result of his searching the site for die - cast models of ferrari sports cars and finding that a full - size ferrari was up for sale. he soon discovered that other cars were also for sale elsewhere on ebay. a car enthusiast who had restored fiats as a teenager, rothman was put in charge of the new unit. ebay motors acquired kruse as a way to gain credibility with collectors, encouraging them to auction their cars on the site and making it known that top vintage cars could be bought online .
the kruse family bought back the company in 1981 after six years of i. t. t. ownership. the collector car business continued to flourish and then enjoyed a further surge following the october 1987 stock crash. a large number of investors felt uncomfortable with the stock market and began to put their money in art work, collectibles, and classic cars. as a result, vintage cars fetched ever increasing amounts of money. at the 1988 auburn auction, a 1929 cord l29 murphy town car once owned by actor john barrymore sold for $ 1 million. a duesenberg j walker lagrande torpedo phaeton also received a bid of $ 950, 000 .
by the time of the 1991 auburn auction, a recession struck the country and had an adverse impact on the classic car industry. values plummeted and several years would pass before investors regained their losses. despite poor conditions, kruse was able to carry on. in 1992 the shop - at - home network broadcast some of the labor day event, allowing home viewers to bid on the 1, 500 vintage cars put up for sale. the top selling car was a 1948 buick saoutchik drophead coupe, receiving $ 275, 000, a far cry from the amounts paid three years earlier. while collectors may not have been willing to pay as much for vintage cars, there were plenty of enthusiasts willing to pay the price of admission to admire them. in 1986 nearly 300, 000 people attended the auburn labor day festivities .
s voice served him well. according to observers his voice could be listened to for hours without annoyance. he was also a natural showman, unafraid of working in front of large crowds, and he possessed the necessary ability to read the crowd, to know who were serious buyers and who might have been shills, and to cajole bidders into going a little higher in their bids than they had planned. he was an immediate success as an independent auctioneer, becoming the top auctioneer in the area after just a year. he handled the usual work to be found in rural indiana: estate liquidations, farm sales, and other real estate sales. he was also called on to auction off less than ordinary items, such as the complete contents of a funeral home and a 750 - foot - deep hole in the ground, which he sold to a garbage company. in time kruse was assisted by his children. dean began working for him part time in 1956 and three years later went full time, becoming an accomplished auctioneer in his own right .
the auction house uses its high - flying stock to scoop up a credit - card payment firm and an auto - appraisals company .
ebay made two acquisitions today using its high - priced stock as currency, scooping up a credit card payment firm and a company in the auto collectibles market to resume pushing its way into pricier merchandise .
as it continued an acquisitions binge begun with last month' s much - remarked purchase of venerable auction house butterfield & butterfield, ebay also signaled an interest in expanding in the auto market .
this is a launching pad for us to get into the car market, and we' re entering into the logical place ,
said ebay senior vice president of marketing brian swette in an interview .
the collectible car market is roughly half a billion dollars a year, he added, compared to the broader car market, counted in the billions .
we think the car market is an attractive market for us ,
swette added .
moving into auto auctions would increase ebay' s average selling price, thus boosting its revenues. that also was the goal of ebay' s $ 260 million acquisition of butterfield & butterfield, a highbrow, 134 - year - old auction house .
billpoint' s technology could reduce the time required for ebay members to complete a transaction by three to seven days, said mike wilson, ebay' s senior vice president of product development and site operations .
billpoint' s system, still in testing, involves billpoint' s software becoming the
master merchant
and processing transactions for members. as such, it introduces both a new revenue source and additional risk into ebay' s business model .
billpoint and others have developed technology to detect fraud in this area, and we view it as a small risk that we would be managing carefully ,
wilson said .
billpoint will operate as a wholly - owned ebay subsidiary and will be encouraged to use its technology to facilitate transactions for other internet commerce firms, he said .
they are the offline version of ebay in collectible cars ,
swette said .
as for ebay' s plans for the used car market, swett said :
we' ll do the same thing as we did for beanie babies - - create a national market that is easy, fast, informative, and has community built around it .
ebay said the two transactions may slightly dilute earnings for the remainder of 1999, and both will be accounted for as
pooling of interest
transactions. ebay also may recognize some one - time expenses related to the acquisitions in its second quarter financials .
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paypal shareholders were to vote on the $ 1. 5 billion deal today; approval seems certain, however, so there' s little drama .
, which claims to sell more vintage cars than all other firms combined, conducts more than 30 real - world auctions a year. ebay motors, however, has seen the bulk of it growth (some estimates put gross merchandise sales there at about $ 3 billion this year) in the standard used car market .
but ebay quickly found that online success doesn' t always mean that real - world business efforts will be winners .
referring to the sale of butterfields, ebay spokesman kevin pursglove said at the time that :
perhaps we had not entirely gauged how much of a change in behavior would be required to make customers comfortable with purchasing high - end art and collectibles online .
since 2002, liveauctioneers has made exceptional items available for safe purchase in secure online auctions .
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partly cloudy skies. a stray shower or thunderstorm is possible. low 69f. winds w at 5 to 10 mph .
the first auction on the west edge of auburn succeeded beyond the organizers’ wildest dreams. a mere three years later, festival organizers had saved the auburn automobile co. headquarters in the city and opened it as a museum. by then, the kruses had taken their business concept nationwide, starting a new industry that continues to thrive some 40 years later .
to house their growing business, the kruses erected a three - story office building in downtown auburn that would be sold to county government in the mid - 1980s after the kruses’ first financial crisis. in the beginning, it sported lavish chandeliers and furnishings that testified to the new company’s prosperity .
the kruses pulled it off with none of the backfiring that plagued recent auctions at the overcrowded dekalb high school site. traffic flowed smoothly onto the grounds without the long waits that were so frustrating in years past .
… the event was bigger and better in almost every way. butler estimated that attendance was up by 30 - 40 percent over 1988. as many as 10, 000 spectator cars were on the grounds at peak times saturday, and the auction expanded to offer a record 2, 000 cars for sale .
… “people didn’t think we could make it work, ” butler said of the auction’s new site. “we had to show them. ”
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5540 county road 11a auburn, indiana 46706 u. s. a. telephone: (260) 925 - 5600 toll free: (800) 968 - 4444 fax: (260) 925 - 5467 web site: urltoken
private company founded: 1952 employees: 100 (est .) sales: $ 125 million (2006 est .) naic: 453998 miscellaneous retail stores, not elsewhere classified
auburn - cord - duesenberg festival by hosting a fund - raising auction. although it is virtually forgotten today, early in the 1900s auburn, indiana, rivaled
as the center of the u. s. auto industry. it was the home of giant auburn automobile co. , which remained a healthy company, especially in luxury cars
caught up to the manufacturer. luxury car sales collapsed and in 1937 the auburn automobile co. closed its doors. it was a bitter blow both to the economy of auburn and the psyche of its citizens. the glory years were not forgotten, however, honored each
s web site. the auburn event received national attention, due in large part to a duesenberg which received a $ 61, 000 bid that was rejected by the owner .
s leading auction firms and the largest collector car auction company, selling more vintage cars than all other firms combined .
s 1933 duesenberg victoria, which fetched a record - breaking $ 90, 000. the following year the event auctioned 250 cars, one of which, a 1932 duesenberg, became the first $ 100, 000 car. by the 1975 auburn auction, total bids reached the $ 7 million mark and 100, 000 people attended. of the 430 cars bid upon, 58 percent were actually sold, because a large number had a
, as the auburn auction was made available on both television and online. the company
e indulge in a peculiar hobby: trading pez candy dispensers. ebay became a broker for sellers, receiving a listing fee and a percentage of the sales price for hosting an online auction. it quickly became one of the great internet success stories, achieving growth by paying attention to what users of the site were trading the most, then creating categories to serve that sector, thereby reaping even greater rewards. one of ebay
lived a colorful life. divorced, he decided to remarry despite being well into his 70s. in 1998 he picked out a russian bride from a catalog, lyubov koutsova, and flew to
barrett - jackson auction company llc; mecum auction inc. ; rm auctions, inc .
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“the a. c. d. festival is separate and distinct from the auction, ” mr. wolff said. “we’re expecting close to 50 duesenbergs and close to 100, 000 attendees. ”
according to mr. wolff, the four - day festival includes a cruise - in of hot rods, muscle cars and other collectibles, as well as a drive - through and display of the duesenberg classics. they will also be hitting the road for a drive to nearby kendalville airport, where the duesenbergs will hold a “gentleman’s competition” on a quarter - mile dragstrip .
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the raid as mitch followed in his father’s footsteps, he discovered that success is fragile and often comes at a high price. instead of planning for family time with his child, he traveled further and more frequently. “i stayed late at the office, because there was literally no end to what i could do each day to earn enough money to stay one step ahead of disaster, ” he says. he found himself in the same situation his dad did years earlier, putting his business before family and faith .
though he was raised in a christian family, mitch vacillated between legalism and relative lawlessness. in july of 1990, “it was like someone turned the lights off, ” says mitch. “we experienced two years of economic crisis. ”
“at first i thought it was a joke by one of my employees, ” said mitch. once mitch realized it was not a joke, he hoped they were there to investigate the records of one of the companies’ 450, 000 customers. in the middle of the crisis, mitch called his uncle derald. within the hour of uncle derald’s arrival, mitch discovered two crucial facts: first, the irs had orchestrated a sting operation against his company; second, they needed to pull together expert legal counsel .
turning point after years of facing constant pressure of life in the fast lane, he reached a turning point and surrendered control of his life to the lord. on the day of the raid, uncle derald asked mitch, “have you ever thought about changing the scorecard of your life from money to wisdom? ” this question has stayed with mitch ever since then .
just after the raid mitch started meeting weekly with his uncle to ask him questions about the scripture he had read that week. soon these meetings began to fuel an almost insatiable desire for wisdom from the bible to apply to his life. in his search for wisdom, mitch created four courses in order to apply his mind. first, read a chapter in proverbs each day that corresponds with the date of the month. “proverbs has 31 chapters, so i read through the book once each month. ”
secondly, read a chapter from the new testament each day. “this allowed me to read the entire new testament in less than a calendar year. ”
third, read three chapters each day in the old testament, “so that i could read the entire bible in a year, ” says mitch .
finally, “i memorized one verse each week that i applied to my collector car auction life, recalling it several times throughout the week. ”
these four disciplines have proven to be very valuable to mitch that he continues to pursue them each day. “i encourage you to consider selecting one of the courses for your own life. warning: this will radically change your life, ” says mitch .
each desire is present in genesis 1: 27 - 30. one who attempts to satisfy his desire leads with a particular chamber of the heart. attempting to satisfy the desire for significance, the emotions chamber leads. someone who attempts to satisfy his desire for contentment leads with the spirit. one who attempts satisfying the desire for control leads with the will. someone who desires to satisfy security leads with intellect. even though one leads with a heart chamber when pursuing a particular desire, all four chambers of the heart flow toward each pursuit. “when we fully surrender our hearts, desires, and three resources of life to him. he satisfies our desires. we are not the ones restoring; rather, it is christ in us and working through us. ”
today, mitch writes and speaks to a wide array of audiences about wisdom and leadership. mitch, his wife susan, and their daughter live in auburn, indiana, on their family farm homesteaded from the indiana state government by his great - great - great grandfather in 1854 .
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kruse international was 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 kruse and his sons dean , dennis and daniel . the company held its first collector car auction in auburn on labor day in 1971 ; the labor day auction became an annual event and grew to become the largest collector car auction in the world . after the success of this auction , the kruses were asked by tom barrett to have a sale in scottsdale , arizona , the next january . this was the first annual sales that continue today . the kruses were the first to sell a car for a documented $ 1 million in cash — a 1934 duesenberg model sj la grande long wheelbase dual-cowl phaeton . the duesenberg was sold to tom monaghan , founder of domino 's pizza and then owner of the detroit tigers . the kruse family is also noted for conducting the $ 41 million sale of the famous william f. harrah automotive collection . the sale of this 1,000-car collection was spread over three auction sessions in 1985 , 1986 and 1987 . the company was sold to itt in 1981 , but the family bought it back in 1986 . it was then sold to ebay for $ 275 million in 1999 but was purchased back by dean kruse in 2002 . on may 25 , 2010 , the indiana auctioneer commission revoked the company 's auctioneer 's license amid charges that the company failed to pay clients who had sold items through the company . on july 1 , 2010 , kruse sold its auction park , home to the annual auburn auto auction , to rm auctions of canada . 
kruse international was 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 kruse and his sons dean, dennis and daniel. the company held its first collector car auction in auburn on labor day in 1971; the labor day auction became an annual event and grew to become the largest collector car auction in the world. after the success of this auction, the kruses were asked by tom barrett to have a sale in scottsdale, arizona, the next january. this was the first annual sales that continue today. the kruses were the first to sell a car for a documented $ 1 million in cash — a 1934 duesenberg model sj la grande long wheelbase dual-cowl phaeton. the duesenberg was sold to tom monaghan, founder of domino's pizza and then owner of the detroit tigers. the kruse family is also noted for conducting the $ 41 million sale of the famous william f. harrah automotive collection. the sale of this 1,000-car collection was spread over three auction sessions in 1985, 1986 and 1987. the company was sold to itt in 1981, but the family bought it back in 1986. it was then sold to ebay for $ 275 million in 1999 but was purchased back by dean kruse in 2002. on may 25, 2010, the indiana auctioneer commission revoked the company's auctioneer's license amid charges that the company failed to pay clients who had sold items through the company. on july 1, 2010, kruse sold its auction park, home to the annual auburn auto auction, to rm auctions of canada.
kruse international was 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 kruse and his sons dean, dennis and daniel. the company held its first collector car auction in auburn on labor day in 1971; the labor day auction became an annual event and grew to become the largest collector car auction in the world. after the success of this auction, the kruses were asked by tom barrett to have a sale in scottsdale, arizona, the next january. this was the first annual sales that continue today. the kruses were the first to sell a car for a documented $ 1 million in cash — a 1934 duesenberg model sj la grande long wheelbase dual-cowl phaeton. the duesenberg was sold to tom monaghan, founder of domino's pizza and then owner of the detroit tigers. the kruse family is also noted for conducting the $ 41 million sale of the famous william f. harrah automotive collection. the sale of this 1,000-car collection was spread over three auction sessions in 1985, 1986 and 1987. the company was sold to itt in 1981, but the family bought it back in 1986. it was then sold to ebay for $ 275 million in 1999 but was purchased back by dean kruse in 2002. on may 25, 2010, the indiana auctioneer commission revoked the company's auctioneer's license amid charges that the company failed to pay clients who had sold items through the company. on july 1, 2010, kruse sold its auction park, home to the annual auburn auto auction, to rm auctions of canada.