BVA Auctions, founded in 2003 bij director Paul Blees, is an online auction house, offering (movable) property at auction over the Internet. Along with Écart, Blees realizes in 2009 a Management Buy-Out. Since then Écart holds a minority stake in the holding company of which BVA Auctions forms part of. For this transaction no bank financing was used. The company auctions movable and immovable property on behalf of governments, umbrella aid organizations such as UNHCR, banks, curators, leasing companies, industry and business. Since participation, the sales of BVA Auctions shows a continuous upward trend. This sales increase is accompanied by a rise in the number of product-market combinations (consumer auctions, automotive, real estate, etc.). Although BVA’s insolvency auctions are frequently in the news, this category represents only one third of the auction sales. BVA Auctions increasingly auctions merchandise for parties who seek to reduce their inventories or asset base. Partners of BVA Auctions include Domeinen Roerende Zaken, DTZ, Heftruckveiling and Marktplaats. In consultation with the other shareholders in BVA Holding B.V. (“BVA Auctions”), Écart sold its interest in this participation to Bencis Capital Partners (“Bencis”) in September 2014. Together with the management team, private equity firm Bencis – represented by holding company Auctio B.V. (“Auctio”) – acquired the entire equity interest of BVA Auctions, as well as all shares in I-deal Overstock. BVA Auctions has contributed positively to the results of Écart. Together with the revenu compared to the initial investment and dividends during participation, Écart realized an above average return on investment in BVA Auctions.