What is a reserve price?

A reserve price is the (non-visible!) minimum amount that a seller has set for a lot and is the lowest price for which the seller is willing to sell. The highest bidder who meets or exceeds this price wins.

If this price is not met, you can still have a chance to win. The closer your bid is to the reserve price, the greater your chance of winning this lot.

The lot is awarded to the highest bidder whose bid is equal to - or higher than - the reserve price at the end of the auction. If the highest bid has met the reserve price or more, the lot is sold immediately for this price.

For example, if the reserve price of a lot is €15,000 and the highest bid is €14,500, the lot is not automatically sold to the highest bidder. The seller can then choose to sell at that price. It is up to the seller to decide whether or not to ultimately agree to a lower price. We will keep the highest bidder updated on the status within 48 hours of the auction closing.

By placing your bid, you confirm that you have read and accepted the Terms and Conditions and Terms of Use. You also confirm that you understand that you have a binding obligation to pay if you are the highest bidder.

Why a reserve price?

Transparency: A reserve price creates transparency and clarifies expectations by removing price uncertainty from the bidding process.

Fairness: Reserve prices reduce the unfairness of bidding strategies where a bidder places the highest bid at the last minute to outbid others and win a lot.

Predictability: Reserve prices provide a predictable outcome because you know that an item will be awarded when the reserve price is reached (compared to the uncertainty of award lots, where the seller must first approve the sale).

What is the difference between no reserve, reserve price and allocation?

No reserve: Guarantees that the lot will be sold to the highest bidder. There is no minimum bid amount required.

Reserve Price: A minimum amount required to guarantee the sale of a lot.

Allocation: The highest bid must be approved by the seller for the sale to proceed.

In addition to your bid, additional costs are incurred in the form of a buyer's premium percentage and VAT. These percentages vary depending on the country. VAT is applied to both your bid and the buyer's premium. Before confirming your bid, you will always receive an overview detailing all relevant amounts associated with your bid, including the final total. This way, you are fully informed about the total amount of your bid.

Unfortunately, canceling a bid is not possible. Therefore, we have deliberately incorporated two steps to prevent accidental bidding:

Bid now
Confirm bid
Up to and including step 2, you have the option to cancel your bid. However, after definitively confirming your bid in step 2, where you agree to our terms and confirm this, it is no longer possible to cancel your bid. We kindly request you to be extra careful when confirming your bid because, after this step, you are obligated to adhere to your bid.

We appreciate your understanding and are always here for you if you have any questions.

Successfully won an item in the auction? Complete the payment process with our checkout system.

Visit troostwijkauctions.com and navigate to 'My Purchases.' Here, your won lots are ready for checkout.

• Select "Ready for Checkout," and click on the checkout button. The information page will appear.
• Verify that all details are accurate and make adjustments if necessary. The details from your Troostwijk Auctions account will be displayed here. If everything is correct, click the orange button at the bottom right to proceed.
  
• Based on the provided information, VAT will be calculated for the lots. Agree to the terms and conditions to proceed to the payment page. Confirm that all details are accurate, as changes cannot be made afterward. If everything is correct, click "Agree and Continue."
• The payment order is generated, and you can make the payment immediately at your service.
  • If you prefer to receive an invoice in advance, select "Bank Transfer" at this step. If you wish to pay immediately, choose other options like iDeal or Bancontact. After payment, the invoice will be available in your account under 'Invoice.'

Why do I have to make a deposit? 
For selected lots, when placing a bid of more than 4000 euros, a deposit of min. 200 euros is required. This is a one-time payment that allows you to continue bidding on such lots. This is done to ensure that only serious and trustworthy bidders participate in the auction.

All Deposits are refunded automatically within 60 days from the date of payment. And user will be prompted to pay the deposit again on selected Lots. This is done to ensure a continued commitment in bidding on our website.

How can I pay the deposit?
To add a deposit go to Account>Profile page and scroll down to the Deposit section. There you will see an “Add deposit” button, which can be used to pay a deposit. And if you haven’t done that already, then you will be requested to pay a deposit when you try to place a bid of more than 4000 euros on selected lots. After the deposit is paid successfully, you can continue bidding seamlessly.

We accept the following payment methods: iDeal, Bancontact, PRZELWY24, or credit card (please note: it is currently not possible to pay for a lot with a credit card).

How can I request a refund of the deposit?
Your deposit will be automatically refunded within 60 days after payment. All Deposits are refunded automatically within 60 days from the date of payment. If you like to get a refund earlier than this, you can request an early refund through our app. Go to My Profile > My Details and scroll down to the Deposits section. There, you can request your deposit refund. In some conditions, getting a direct refund isn’t possible. Please check if you meet all the conditions below:

• The user must not be blocked.
• The user does not have the highest bid on a lot at the moment.
• The user does not have lots in ready to checkout.
• The user does not have pending payment orders or invoices.

If you do not meet the above conditions, you must handle these matters first before retrying or contacting Customer Support. If the deposit refund is successful, it will be confirmed via email.

If you have any further questions, please contact us at pay@troostwijkauctions.com

How long does it take to receive a refund?
The refund will be processed within 7 working days if none of the above conditions is applicable.

Unable to bid even after making a deposit?
This can happen if your account is blocked. All Deposits are refunded automatically within 60 days from the date of payment. And to unblock the account, you can contact us for assistance at pay@troostwijkauctions.com

For each auction, there is a predetermined pickup day specified in the auction terms, which can be found on the auction page and the last page of your invoice. On this pickup day, we expect you to collect your goods.

If it’s not possible to come by on this day, it’s often possible to have your purchased lots delivered. Below you’ll find a selection of transport companies experienced in collecting and delivering various types of lots. The availability of delivery depends on the country where the auction takes place.