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• How to Buy at Auction
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How to Buy at Auction Each year thousands of new customers buy their first antique, classic, or collector car from Kruse International and become involved in one of today's most exciting and rewarding hobbies. It is Kruse International's goal to make your involvement with collector cars as enjoyable as possible.
Your first step towards buying is to register as a bidder. You will be required to provide verification that you have the means to fully pay, directly to the seller, for each purchase made on sale day. Funds must be: cash, cashier's check, certified bank check or personal or company check accompanied by an irrevocable bank letter of guarantee. You may be asked to leave a deposit at the time of registration. A bidder's fee, which includes two complimentary V.I.P. passes and reserved seating, may also be charged. To avoid waiting in line, you may pre-register with Kruse by mail. If you meet all qualifications, your completed bidder's forms and passes will be waiting for you when you arrive. You will then be issued a bidder's number that will be used to reference any purchases you make. A Buyer's Premium equal to a percentage of the sales price as well as any applicable sales taxes will be charged for each purchase made. Cash purchases are fully reported to the federal government in accordance with applicable law.
Buying
a Vehicle
Depending on your method of payment, it may be necessary to hold the vehicle's title and/or vehicle for a short time. Kruse prefers to avoid such an occurrence because it is an inconvenience to both you, the seller and Kruse. If it is held, your title will be forwarded to you by registered mail, or other trackable delivery as soon as we determine that proper funds have been received by the seller's or Kruse's bank. Storage and transportation costs will be your responsibility. Professional trucking firms are usually present at the auctions to assist you in making arrangements to ship your vehicle.
Insuring
Your Car
When possible Kruse International provides complete promotion of your car through brochures, news releases, international print advertising and an extensive mailing list. It is a proven fact that the more we advertise and promote your car, the greater its chance of reaching or surpassing your targeted selling price. To take full advantage of our promotional campaign, send us your prepaid consignment with a high-quality photo of your car at least 45 days before the sale. At many sales, you can consign your car as late as the day of the auction providing space is available. However, statistics show that early consignments accompanied by a photograph help increase net returns to the seller by as much as 25%. There is no extra fee for this advanced publicity, yet you can net much more if advertising is utilized.
We emphasize you need to send us a quality photo suitable for reproduction. If possible, have a professional photographer take the picture with a 35mm camera. Your car should be clean, properly lit and well positioned in the photograph, avoiding obstructions and people. A high quality photograph will stand out in Kruse brochures and other promotional materials. Although all photos received can not be used, Kruse will try to publish your picture if possible. With your photo, please include the following information: Your name, address, telephone number, year, make & model information, a detailed description of your car, your paid confirmed sale number, sale in which your car is entered. Please do not write information directly on the back of the photo as inks and markers can bleed through, making your photo unusable. We also ask that you not affix labels to the front of the photo.
Include
Your Entry Fee When Registering
Our office does not fully process, confirm and promote a car entry until the entry fee is paid. During 1994 we spent an average of $750 in costs for each car entered in our sales. We require advance payment of the entry fee to cover a portion of this cost. If a consignor has not fully paid his entry fee at least 30 days prior to the sale, we may cancel or reassign the consignment number. For your convenience, we accept Visa, MasterCard and personal checks for advanced payment of entry fees. Entry fees are non-refundable and non-transferable once a consignment is processed.
Describe
Your Car Honestly And Accurately
While all cars are sold "AS IS, WHERE IS" and subject to the buyer's personal advance inspection, it is the responsibility and duty of the seller to honestly and accurately represent the car to Kruse International and the buying public. In any instance when a seller misrepresents a car being sold and it is brought to our attention before the conclusion of the auction, the buyer will be allowed to rescind the sale and receive a full refund from the seller of his purchase price paid. Kruse International will not tolerate seller misrepresentations of any type.
To avoid waiting in line and other unnecessary delays on sale day, Kruse offers Express Check-in to any customer who completely pre-registers his car with our Auburn, Indiana office. To qualify for Express Check-in, we require the following at least two weeks prior to the sale date: 1. Reservation and payment of your sale number(s).
If payment and all required information is received by the deadline, Kruse will prepare your consignment forms and documents before you arrive. Upon arrival, we request that you park your vehicle outside the check-in gate and bring your title and other necessary ownership documents to the auction office and report to the Express Check-in desk. At that time, a clerk will take your title and have you sign a consignment and sales contract, federal odometer statement and power of attorney.
Clean
Your Car for Top Dollar
To protect your car against damage or theft, be sure to contact your insurance carrier to make proper arrangements. Kruse International, its sponsors, agents and employees do not provide insurance coverage of any type protecting against loss, theft or damage of any kind resulting to or from your vehicle or its contents.
Arrive
Early for Best Exposure
Newspaper and television reporters - not to mention potential buyers - like to see cars before the sale begins. Make sure your car is at the auction site early. This will help your car get noticed and make your check-in easier. Professional trucking firms can pick up and deliver your car at reasonable and competitive rates. When you arrive at the sale, bring the car's title (which must be properly completed and legal) and/or ownership and all other relevant documents to the consignment office. Our staff will then answer questions they may have. Keep your car clean and dusted. Make sure it is running properly and is in line at the correct time. Although auction personnel are usually available, Kruse prefers to have owners drive their cars across the auction block. When a bidder feels that the owner is unavailable or hiding, it may deter him from bidding on the car. Many owners ride across the block with their entire family to add a nice, friendly touch. Be honest about your car. State its good and bad points, and consider the feelings of the buyer. While we attempt to turn your car's worst liability into its best selling asset, we can only do so in spirit of trust and honesty. Do not inflate your reserve price with the expectations of lowering it when the bidding begins. Tell the auctioneer the true minimum, with consideration for the commission, at which you will sell your car. The sooner that we can announce that the car is "for sale", the easier it will be to sell and the more money your car may bring. Many bidders will refrain from bidding until they know the vehicle will be sold.
Immediately after your sale, come to the settlement office and sign all necessary forms. If the buyer is available you may be able to accept payment directly. If not, check back later in the sale. You will be paid (subject to the terms of the sale) as soon as proper funds are received from the buyer. If your car is a "no sale", we recommend you keep it on display until the end of the event. Other bidders may be interested in your vehicle. In many cases, your car cannot be removed from the auction site until after the entire sale has been completed.
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