Types of auctions

All Japanese car auctions are divided into 3 groups:

1 Real-time bidding.

The most common auctions are held on sites in Japan (locally and online). These are held on a certain day of the week and in a particular auction house.

Details

Most of the cars are sold in online auctions. The bidding takes place in real time mode by a step-by-step increase of bidders from the starting price to the maximum price they are ready to offer to the owner for a given car. One car bidding lasts only 15 to 40 seconds, so it is necessary to define for yourself the maximum that you have to buy, as there will be no time for reflection and conference.
Every car is traded at a certain time, which sets the system in the morning on the day of the auction. Bidding is conducted continuously from 9.00 to 18.00 (at some auctions until 22.00) Japanese time, with a minimum interval. Every car is awarded a starting price by the auction system, its function is that the bid cannot be lower than the start-up, therefore cutting off customers with a lower budget, the rate must be at least 10,000 yen higher than the primary price.
It is almost impossible to predict the result of the auction, as the minimum desired cost of the car is communicated by the owners to the auction staff at the registration stage in the system. This information is strictly confidential.
It is important to understand that NOT all auctioned cars go to auction when they are sold to buyers. In cases where the last fixed rate does not reach the desired minimum of the car owner, it simply remains unsold.

You could see such machines in sales statistics, their status «Not Sold». In such a case, there are three possibilities:

  • After the auction took place, you can try to buy a car as a result of talks («By Nego») offering their amount (more than the one on which the auction for a minimum of 30,000 yen was held), but this does not guarantee that the owner will agree to it.
  •   If, after the auction, no one wants to buy a car by agreement, the owner will sell the car on a flat-price on the stock where he can get the desired amount of money.
  •  The car will be auctioned again in the near future, but when and on which to decide only the owner.

 

2 Tender Rental

Auctions are on small platform is the minimum number of bids.

Details

Tender Rental :

GE, NPS, ORIX, SAA, SMAP, Shisuroke, ZIP. All of these are tender platforms. Most often, they have cars that are rented or used for business. It is not worth to ignore the tender platforms, because often they can offer very good options.

On tender platforms, auctions are conducted NOT in real time mode, all bids are entered in the system in the morning, the results appear in it in the evening after the end of the auction for all cars put on this platform.

There is no way to follow the process and control the purchase. The car is given to the highest bidder, If there are more than one, the car is given to the person whose bid was previously fixed by the system.

It is important that subject to bidding on the tender platform, no other bids can be made per day, because there is a high risk of multiple cars being purchased, and for refusing an extra or erroneously purchased car, the auction requires a penalty from $800 to $1,500.

3 Auctions with a fixed price.

Here you can buy cars at a fixed price online or by going directly to the auction house. 

Details

Stock with fixed prices («One Price»).

Cars that have not been sold as a result of online bidding are usually traded here.

However, it is not uncommon for the car to be put on «One Price» while are waiting for the auction, and if it can be sold, the «CANCELLED» status appears on the auction day.