Swiss offices and authorities are discovering the Swiss online marketplace Ricardo as a successful sales channel for disposing of items from bankruptcy estates, seizures, lost property, or confiscations. In the first half of 2024, 980 items worth over CHF 1.66 million were successfully auctioned on Ricardo. Offers from official sellers are subject to special legal provisions and are now marked with a unique label on Ricardo.
Increasingly, Swiss debt collection and bankruptcy offices, public prosecutors, lost property offices, and other governmental institutions are using the Swiss online marketplace Ricardo to sell lost, seized, or confiscated items. From January to June 2024, a total of 980 items with a merchandise value of over CHF 1.66 million were successfully auctioned. The high demand for the diverse items is reflected in the over 620,000 visits to the offer pages, as well as the approximately 30,000 bids placed and more than 16,000 Ricardo members following the official sellers.
Unique Inventory
Among the auctioned items are lost bicycles, seized electronic devices, watches and jewelry, entire household furnishings, and even confiscated luxury cars. Compared to traditional live auctions, selling through Ricardo involves less administrative and financial effort for the offices. Moreover, thanks to Ricardo’s nationwide reach, higher average prices are achieved for the various items. Ultimately, this benefits, for example, the creditors in a bankruptcy estate.
Unique Label for Official Sellers
While standard offers on Ricardo are based on the Swiss Code of Obligations, special regulations apply to auctions by authorities and offices. These are based on the Federal Act on Debt Collection and Bankruptcy. Auction bids are binding like regular Ricardo auctions, but liability and warranty as well as payment terms may differ from Ricardo’s rules. Offers from official sources are marked on Ricardo with a special “GOV” label (Government). The product descriptions include all specific rules that deviate from standard offers and are part of the agreement between the seller and the buyer.
Media contact
Mojca Fuks
Senior Corporate Communications Manager & Media Spokesperson
+41 76 220 59 89
About Ricardo
Ricardo was founded in Baar, Switzerland, at the end of 1999. Over the past 24 years, it has become one of the strongest brands on the Swiss online market. With 5 million registered members, Ricardo is one of the most popular online marketplaces on the Swiss e-commerce market. Ricardo is part of SMG Swiss Marketplace Group AG.
About SMG Swiss Marketplace Group AG
SMG Swiss Marketplace Group AG is a pioneering network of online marketplaces and an innovative digital company that makes life easier for people through forward-looking products. SMG Swiss Marketplace Group AG provides its customers with the best tools for making life decisions. The portfolio covers real estate (ImmoScout24, Homegate, Flatfox, Immostreet.ch, alle-immobilien.ch, home.ch, Publimmo, Acheter-Louer.ch, CASASOFT, IAZI), the automotive sector (AutoScout24, MotoScout24), general marketplaces (anibis.ch, tutti.ch, Ricardo), and finance and insurance (FinanceScout24, moneyland.ch). The company was founded in November 2021 by TX Group AG, Ringier AG, Mobiliar and General Atlantic.
