Netherlands bank note printer closes down
- Published: Oct 1, 2017, 7 AM
A bank note auction unlike any other closed on Sept. 28, and as it did, so did a revered Dutch institution, the bank note printing division of Royal Johannes Enschedé b.v. It is one of the oldest companies in the Netherlands, and for centuries was its exclusive bank note printer.
The sale was precipitated by the firm’s decision to shutter the operation due to increased competition and lower demand for bank notes. It will continue other aspects of it business, including postage stamps, and the security printing of tax labels, visas, brand protection products, diplomas and certificates.
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The online sale was conducted by Troostwijk Auctions b.v., a Dutch multinational specializing in the sale of industrial machinery available due to insolvency or closure.
The auction had 419 lots. It included paper-cutting machines, counting machines, collection/sealing machines, binding machines, cutting lines, a varnish coater, a light authenticity tester, laboratory and testing equipment, a hydraulic ink mixer, rolling stock, and office inventory.
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An opening bid of €350,000 or $418,000 would put a bidder in the run for a 60- by 20-foot varnish sheet finisher capable of coating a 2.7- by 2.3-foot double-sided sheet. On the lower end of the scale, posters illustrating the complete history of Dutch bank notes from 1814 to 2002 had a minimum €10 starting bid.
Successful bidders were required to pay additional, and sometimes considerable, fees for dismantling and moving.
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