Comments on: Isettas and more for sale at Kruse Auburn 2009 auction http://www.microcar.org/blog/2009/08/isettas-and-more-for-sale-at-kruse-auburn-2009-auction/ news about Vintage Microcars! Fri, 10 Feb 2012 05:13:08 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Jim http://www.microcar.org/blog/2009/08/isettas-and-more-for-sale-at-kruse-auburn-2009-auction/comment-page-1/#comment-2155 Jim Sun, 23 Aug 2009 11:49:07 +0000 http://www.microcar.org/blog/?p=537#comment-2155 The past "problem" seems to be Kruse not releasing money to SELLERS, not the Buyers not receiving cars. The past “problem” seems to be Kruse not releasing money to SELLERS, not the Buyers not receiving cars.

]]> By: George http://www.microcar.org/blog/2009/08/isettas-and-more-for-sale-at-kruse-auburn-2009-auction/comment-page-1/#comment-2152 George Sun, 23 Aug 2009 03:39:40 +0000 http://www.microcar.org/blog/?p=537#comment-2152 A friend here wants to bid for one of the cars. If he pays for it, do you think he will be able to get it delivered or released to him? These are uncertain times we live in. A friend here wants to bid for one of the cars.

If he pays for it, do you think he will be able to get it delivered or released to him?

These are uncertain times we live in.

]]> By: Jim http://www.microcar.org/blog/2009/08/isettas-and-more-for-sale-at-kruse-auburn-2009-auction/comment-page-1/#comment-2151 Jim Sun, 23 Aug 2009 02:32:40 +0000 http://www.microcar.org/blog/?p=537#comment-2151 I just heard from someone who has at least one car at this upcoming auction that KRUSE has apparently changed the way the sales work so that the buyer actually directly pays the seller without Kruse being inbetween. Whether this is true or not remains to be seen. How this fits in with their plan of paying off the February bills is not known. From some of the stories going around it does not appear that Kruse cares about the contracts they make you sign, one dealer/seller has said that despite a contract that says they would be paid in no more than 30 days, there was an "unwritten" contract that all the dealers knew about that Kruse would not pay them for up to 90 days. This is also a classic manipulative move, isolate people and tell them "everyone else is doing it so just play along". No one wants to rock the boat so they get away with it. Until now. Also- the same source has said that Kruse is out the 6.5 million because of one or two high dollar buyers who purchased a large number of vehicles have now refused to pay from February for some reason. And yes, it does all sound like a Ponzi scheme. I just heard from someone who has at least one car at this upcoming auction that KRUSE has apparently changed the way the sales work so that the buyer actually directly pays the seller without Kruse being inbetween. Whether this is true or not remains to be seen. How this fits in with their plan of paying off the February bills is not known.
From some of the stories going around it does not appear that Kruse cares about the contracts they make you sign, one dealer/seller has said that despite a contract that says they would be paid in no more than 30 days, there was an “unwritten” contract that all the dealers knew about that Kruse would not pay them for up to 90 days.
This is also a classic manipulative move, isolate people and tell them “everyone else is doing it so just play along”. No one wants to rock the boat so they get away with it. Until now.
Also- the same source has said that Kruse is out the 6.5 million because of one or two high dollar buyers who purchased a large number of vehicles have now refused to pay from February for some reason.
And yes, it does all sound like a Ponzi scheme.

]]> By: Charles http://www.microcar.org/blog/2009/08/isettas-and-more-for-sale-at-kruse-auburn-2009-auction/comment-page-1/#comment-2148 Charles Sat, 22 Aug 2009 23:20:56 +0000 http://www.microcar.org/blog/?p=537#comment-2148 Does it bother anyone else to hear Kruse actually state that the February sellers should be paid right after Kruse's Labor Day sale is completed. Does this not sound like a perfect Ponzi scheme where the later sales are used to pay the earlier outstanding debts, as in "borrowing (or stealing) from Peter to pay Paul"? I can't believe that he actually said that to the law enforcement officials investigating these claims. He also talks about Kruse receivables rising to 6.5 million dollars "from collector car house customers". Would you let a collector car company take your car without paying first? How can they have 6.5 million in receivables from an auction that occurred over six months ago, and who in their right mind would advance that kind of money to a car dealership (especially a collector car dealership) in the current economic climate? Wow, that would be very scary of you were doing business with them and heard this news. Chas Does it bother anyone else to hear Kruse actually state that the February sellers should be paid right after Kruse’s Labor Day sale is completed. Does this not sound like a perfect Ponzi scheme where the later sales are used to pay the earlier outstanding debts, as in “borrowing (or stealing) from Peter to pay Paul”?
I can’t believe that he actually said that to the law enforcement officials investigating these claims.
He also talks about Kruse receivables rising to 6.5 million dollars “from collector car house customers”.
Would you let a collector car company take your car without paying first?
How can they have 6.5 million in receivables from an auction that occurred over six months ago, and who in their right mind would advance that kind of money to a car dealership (especially a collector car dealership) in the current economic climate?
Wow, that would be very scary of you were doing business with them and heard this news.
Chas

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