Russell W. Kruse
Russell Wayne Kruse | |
|---|---|
| Born | Template:Birth date Auburn, Indiana, U.S. |
| Died | May 4, 2007 (aged 84) Fort Wayne, Indiana, U.S. |
| Occupation(s) | Auctioneer, businessman |
| Known for | Founder of Kruse International; significant growth of classic automobile auctions |
Russell Wayne Kruse (December 9, 1922 – May 4, 2007) was a prominent American auctioneer recognized for significantly growing the classic automobile auction sector through his company, Kruse International.
Originally from Auburn, Indiana, Kruse started his career in agriculture but shifted to auctioneering following losses in his crops. In 1952, he enrolled at the Reppert School of Auctioneering and subsequently established a local business specializing in real estate and farm auctions. He held licenses as an auctioneer, real estate broker, and certified residential appraiser within Indiana.
In 1971, Kruse played a key role in fundraising for the Auburn Chamber of Commerce’s classic car exhibition by conducting auctions of vintage automobiles. A remarkable $61,000 bid on a Duesenberg attracted media coverage, enhancing his standing in the classic car auction industry. The following year, he founded the Kruse Auction Institute to educate aspiring auctioneers and took on leadership roles including chairman of the Indiana Board of Auctioneers. Additionally, he served as president of the Indiana Auctioneer's Association and was honored with induction into their hall of fame alongside his sons Dean and Dennis Kruse.
Kruse International’s successful divisions in real estate and oil equipment drew acquisition interest from ITT Corporation in 1981; however, the family regained ownership in 1987. Later, eBay purchased the company in 1999 but divested it back to the Kruse family in 2003. His sons Dean, Dennis, and Daniel continue to operate the family auction enterprise along with eight grandchildren. From 1996 until his passing, Kruse also contributed as an instructor at the Reppert School.
His first wife, Luella (Boger), who bore his seven children, passed away in 2000. Russell Kruse died at age 84 due to a stroke in Fort Wayne, Indiana.