Kruse Auction Timeline

FORT WAYNE, Ind. (WANE) - 1971 - The first Labor Day auction took place as part of the Auburn-Cord-Duesenberg Festival in an empty field near I-69.  The one day event.  The ACD Festival first took place in 1956.

1972 - Kruse Labor Day auction takes place at DeKalb High School with 150 cars up for sale.  A 1933 Duesenberg Victoria sold for a world record $90,000.

1976 - The Labor Day auction expands to three days.

1981 - Attendance at the Labor Day auction tops 100,000.  A 1956 Bentley once owned by John Lennon sells for $325,000.

1989 - Kruse Auction Park opens off I-69 with nearly 1,500 vehicles up for sale.

1990 - The 20th anniversary Labor Day auction adds collectibles for sale.

1992 - The Shop at Home Network airs some of the Labor Day auction live.

1996 - Indiana State Police estimate attendance at nearly 300,000. 

1999 - eBay acquires Kruse International.

2003 - Dean Kruse buys Kruse International back from eBay.

2009 - In August, Dean Kruse admits he owes owes payments to 66 consignors. He blames the late payments on cash-flow issues caused by buyers who haven't paid him.

January, 2010 - Kruse International files lawsuits in DeKalb County seeking more than $2 million. The auction house said it is owed $6.7 million by customers.

February, 2010 - FCOF Midwest Credit LLC drops a $7.9 million lawsuit against Kruse after Dean Kruse agrees to drop a countersuit.

May 25, 2010 - The Indiana Auctioneer Commission permanently revokes the license of Dean Kruse's auction house and suspends Kruse's personal auctioneer license for at least two years.

July 1, 2010 - RM Auctions of Canada announces it has purchased the Kruse Auction Park.