Classic auction cash conundrum
Image: granada_turnier 2003
The operator of an auction house dealing with classic cars for sale in Indiana has come under scrutiny, because of claims made that he retained the funds raised by various vintage lots back in 2009.
Seventy-year-old Dean Kruse brokered the sale of a pair of 1970 Plymouth Hemi Barracudas, as well as a Shelby GT500 from 1968, the total values of which exceeded $218,000.
Mr Kruse was due a commission of around $22,000 on the sale in any case, but he issued the owner of the three vehicles with a cheque for the remaining amount which was linked to a non-existent account, allowing him to leave with the rest of the cash in his possession.
After being charged with theft last week, Mr Kruse has appeared in court and been linked with a similarly unscrupulous deal which was conducted a year prior to his main misdemeanour.
The good news for fans of classic cars is that 99 per cent of auction houses and auctioneers are highly regarded and aim to work in your best interests to help smooth the process of buying or selling a classic or vintage vehicle.