Classic cars business teams with eBay subsidiary

Tuesday, January 15, 2002

Business Today

DEXTER -- A Dexter business has joined forces with an international firm in the classic collector cars trade.

Kruse International, an eBay Inc. company, has announced it has reached an agreement in which Smith's Auction Co. will acquire partial ownership in its Hot Springs Classic Collector Car Auction held in Hot Springs, Ark., on March 8-9.

Smith's Auction Co. will hold the management of the Hot Springs event and Sherm Smith, president of Smith's Auction, will be an adviser to Kruse International for the event.

"We are excited about forming a relationship with Sherm Smith and Smith's Auction Company," said Tim Sprague, CEO of Kruse. "The Hot Springs event is a natural for their company and this deal fits with our commitment to remain involved in the market."

Smith agreed that the move is a good one for both companies.

"Our company has always viewed the Hot Springs auction as an important part of the market," Smith said.

Smith is a former co-owner of the Daily Dunklin Democrat and the Daily Statesman in Dexter.

Kruse International, a subsidiary of eBay, has established numerous auction records, attracted a "who's who" of celebrities and developed a reputation for selling more collector cars than any other auction company in the world.

Smith's Auction Co.'s other auctions include events at Tulsa, Oklahoma City, Atlanta, Jonesboro, Ark., Cape Girardeau and Paducah, Ky.

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