RM Auctions has announced in a company statement the purchase of the 235-acre auction park located in Auburn, Indiana, from long-time automobile auctioneer Dean V. Kruse. Kruse had his auction license suspended for two years in May by the Indiana Auctioneer Commission and his company, Kruse International, had its auction license permanently revoked.
As part of the company’s overall expansion plans, Rob Myers, chairman and founder of Blenheim, Ontario-based RM Auctions, also announced in the company statement the formation of Auctions America by RM, a new RM subsidiary created to operate the recently acquired auction facility, specializing in the presentation of 1950s and 1960s classics, customs and muscle car segment of the collector car market.
RM Auctions will continue its annual calendar of events and the two separate RM auction entities, each with its own focused brand identity, will serve the entire spectrum of the collector car market, according to the company statement.
The tradition of staging what was once the world’s largest automobile auction held in conjunction with the Auburn, Cord, Duesenberg Festival each Labor Day weekend, will continue this year under the Auctions America by RM banner. 2010 will mark the auction’s 40th year and will be held on Sept. 2-6 in Auburn, according to the company statement.
“The very first collector car auction I attended was the one held on Labor Day weekend in Auburn back in 1974,” Myers said in a statement released by RM Auctions. “The ACD Festival and auction weekend has been a tradition for me ever since. All of us within the RM group of companies are very excited to take on these new opportunities and we look forward to upgrading the auction park and continuing to serve our clients and friends with a venue like Auburn.”
Donnie Gould, RM Auctions partner and collector car expert, has been appointed president of Auctions America by RM. Gould will work closely with Ed Cepuran in his new role as chief financial officer of RM’s new subsidiary. Serving as general manager, the day-to-day aspects of the business will be overseen by RM car specialist, Ken Wallace.
“We believe the Auburn location is ideal for this biggest segment of the market with its freeway access, huge parking lots, and motorcoach and swap meet facilities,” Gould said in the RM Auctions statement. “We are all very excited to get started.”
Read our previous coverage of Kruse International, here.