TBAuctions at a glance
TBAuctions (“TBA”) is a European online auction platform for second-hand and second chance goods with a presence across the Netherlands, Belgium, Germany, the UK, France, and the Nordics.
TBA offers end-to-end auction services from pre-sales to post-sales to industrial and business customers, enabling goods to be reused and extending their lifetime. The auction model contributes to circular economy, meaning that less energy is used and fewer resources are depleted.
The challenges we face
Unsustainable consumption leads to significant resource depletion and energy usage, and a large amount of what some perceive to be end-of-life assets end up in landfills as waste. 95% of the value of primary materials are lost after the first lifecycle.1 Second-hand and second chance goods are a solution to these issues enabling a circular economy by increasing the longevity and lifetime of already produced assets.
estimated increase in global raw material usage by 2060, causing severe environmental damages
of GDP in advanced economies in Europe is associated with informal transactions
How does TBAuctions help?
Unsustainable consumption leads to resource depletion as valuable assets may end up being unused or discarded, while goods that are reused often change hands through informal transactions, contributing to reduced illicit financial flows and price transparency.
TBA enables reuse and re-commerce of goods, effectively decreasing the use of natural resources and waste generated. In addition, the platform facilitates secure and transparent transactions and compliance both in core markets but also in emerging markets, giving buyers access to more modern technology at fair pricing.
A less wasteful, more circular economy that provides equal access to fair and transparent pricing while supporting a prosperous environment and biodiversity.
Who is impacted?
TBA serves approximately 52k sellers and approximately 800k bidders. These sellers and bidders are businesses and consumers primarily located in Europe.
What are the impact considerations?
If TBA didn’t exist, more waste would be going to landfills and there would be less reuse of equipment, which would lead to more unsustainable consumption and resource depletion. In addition, the reused goods market would be less transparent.
There is a risk that reselling old machinery will at one point not be sustainable as opposed to new resource-efficient machinery. Additionally, the lower price levels of used and surplus goods on auction platforms vs new goods may promote increased consumption.
Number of items given a second life
Target 2025: 2.3m
Number of new bidders
Target 2025: 554k
Number of buyers that are also sellers
Target 2025: 86k