Belgian auctioneers profit from crisis

24th March 2009, Comments 0 comments

There is always someone waiting to make a buck out of other people's misfortune.

As a result of the economic crisis a record number of businesses have gone to the wall in Belgium. But the crisis is not affecting everybody with the same severity.

Some economic activities are benefiting from the global recession.

In recent months Belgian auctioneers have been doing brisk business. The property of businesses that have gone bust is often auctioned to raise cash.

Items up for auction often include all the contents of the offices of businesses that go broke.

As a result auctioneers are doing a roaring trade.

Paul Weyers of the Antwerp auctioneers Troostwijk told VRT that there had been a 35% increase in comparison with the first three months of last year.

There is a great variety in the types of businesses whose goods are being sold.

They include contractors, metal-processing companies, horticulturalists as well as textile businesses.

The financial crisis is also creating a lot of work for official receivers, bailiffs and security firms.

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