Troostwijk Veilingen is one of the largest European industrial auctions. The company was founded more than 90 years ago, and is still growing. “Online auctions have become a new channel for buying and selling machines,” says Andrej Pieterson of Troostwijk Veilingen.
Troostwijk Veilingen was founded more than 90 years ago. The goods were then still sold by auction, but it’s now no longer a traditional auction. Interested parties nowadays make a bid online. With more than 180 employees and their own branches in 16 different countries, Troostwijk Veilingen has grown into one of the largest industrial auctioneers of Europe. “We take care of auctions from voluntary sales and from a bankrupt’s assets,” says Andrej Pieterson, who works for the auctions related to the food industry in the Netherlands for Troostwijk. This concerns complete production lines, processing and packing machines, and catering appliances.
In the past, Troostwijk achieved about 95 per cent of turnover from bankruptcy auctions. Now, that is about ten per cent. Customers are mostly producing companies that want to get rid of their machinery because they’re moving, for example, or because they’re investing in new machines, or changing their activities or terminating their companies because they have no successors. Andrej: “Some companies start productions that turned out to be a bust. The machines are then put aside and kept in the corner as ‘dead money.’ In the end, management comes to the conclusion that it’s better to sell the machinery.” According to him, the machines from the Dutch food industry sell well. “These machines actually never go out of date, and have always been well maintained. People abroad know this as well. They often actively search for Dutch machines and materials.”
Global industrial platform
Troostwijk has become an online sales platform with the service people are used to from an auctioneer. Troostwijk takes care of everything for their customers, from doing the inventory of the lots to the financial settlement. According to Andrej, this is an important reason to choose selling per auction. “Another major advantage is our extensive network. Annually, we receive 2.2 million bids, from various branches, which offers direct access to potential buyers. An additional advantage is the delimited sales times. An auction has a clear beginning and ending, so that customers know exactly where they stand. For buyers, the price and the quick availability in particular are an advantage. When purchasing a new machine, it can take a long time before it’s delivered. Online auctioning has really become a new way to buy and sell machines all over the world.” Besides auctions, Troostwijk also offers services such as appraisals, advise and consultancy.
The auctioneer has undergone major developments particularly internationally. Troostwijk now has 16 branches throughout Europe. “We work with local people who speak the language. This is to the benefit of the service. You don’t just have to communicate with buyers and sellers, you also have to deal with local regulations, price levels, customs and more.” Andrej mentions the website is now available in 15 different languages, and the customer service is also available in these languages. That online sales continue to grow definitely contributes to this, as well as the increasing attention paid to sustainability. Furthermore, economic situations also play their part. When the economy grows, much is built and invested, while second-hand machines are chosen more often and more bankruptcies occur in recessions. “There is actually always a market for us . We also profit from subsidies. When, for example, financing opportunities are provided in Eastern Europe, we immediately notice this.”