Kruse Collector Car Auction Prices - January 2003

Auburn, IN January 27, 2003-Kruse International released the results of recent auctions held in Scottsdale, AZ and Fort Lauderdale, FL. The auctions were significant to the company because they were the first held since Dean Kruse bought the company back from eBay in December 2002. The 30th annual Fort Lauderdale Beach Collector Car Auction was held January 3-5, 2003 and was a record breaker. Items sold included a 1982 Lamborghini Countach coupe for $62,000; a 1957 Chevy Bel Air convertible for $53,000; a 1949 Cadillac Coup Deville for $50,500; a 2000 Chevy Camaro SS coupe for $40,000; and a 1932 Ford Model B coupe for $39,500. The 32nd annual Desert Classic Collector Car Auction & Show was held January 10-12 in Scottsdale, AZ. The auction featured a 1968 Shelby GT 500 KR convertible that sold for $114,000; a 1950 Woody Wagon that sold for $100,000; a 1957 Chevy Bel Air convertible that sold for $58,000; a 1987 Rolls Royce Corniche II convertible that sold for $55,000; and a 1933 Ford Hi-Boy that sold for $55,000. "The auctions in Fort Lauderdale and Scottsdale exceeded our expectations and were the perfect way for Kruse International to kick off 2003. We look forward to building on those successes throughout the year, making this our most successful year ever," Kruse said. Kruse International, incorporated by Dean Kruse and his son Mitchell in 1986, has established itself as the world's largest collector car sales organization. Kruse sold the company to eBay in 1999 and the company proceeded to cut the number of live auctions from 47 a year to 12. Kruse said that one of his goals is to increase the number of live auctions. "Ever since I bought the company back, I've been restructuring it, shifting the focus back to what I love most, what I think is the most exciting part of the business-live auctions. The success of the Fort Lauderdale and Scottsdale auctions reinforces my belief that buying back the company was the right thing to do. This is what I love doing," Kruse said. Upcoming events for Kruse International include the Sigmon Museum Closeout in Newton, N.C. on February 8-9, 2003 and the 30th Annual Atlantic City Classic Car Event on February 20-23.