At TBAuctions, we strive to be the first and most trusted choice for trading used business assets for bidders and sellers. This month we are piloting our 'Safe Auctioning' initiative on the platforms of Troostwijk Auctions and Vavato where we identify bidders that may have 'no intent to pay' to safeguard a clean and fair auctioning process. We ask these bidders for a bid deposit to ensure they are serious about their intended purchase. This makes the platform safer and more reliable, keeping the focus on successful auctions.

Why is this important for you as a seller?

As a seller, your primary goal is a successful sale with a reliable bidder. The bid deposit actively discourages fun bidding or abusive bidding. By acting early when there is doubt about a bidder’s intent to pay, we increase the likelihood that an awarded lot will be paid for. This leads to:

• More successfully sold lots;
• Shorter turnaround times in auctions; and
• Greater trust in the platform - from both bidders and sellers.

For questions, please reach out to your Seller Success Representative.