Online Car auctions in Japan are like no other car auction you’ve seen. It’s common knowledge that Japan is a top exporter of cars throughout the world. Even after years of recession, Japanese cars are still on top throughout the globe.
What people outside of Japan may need to realize is that thousands of cars are sold online every day at Japanese car auctions online everywhere in the country. Just in Kobe, the second largest auction house in Japan, the Saturday auction usually sell about ten thousand cars. The variety of makes and models that are available on the websites every week is truly mind boggling.
Where do the cars come from? By far, most cars belong to average people who just want to make sure they get a good price on their car before they buy a new one. The biannual inspection, called Shaken, creates a lot of motivation for people in Japan to offload their cars before the inspections get too expensive. These inspections get expensive when their car gets older, and people in Japan have a tendency to prefer new over used items.
Are the cars worth buying? Another aspect of Japanese culture is that people take a lot of pride in keeping their cars clean. The cars are usually in very good condition. Furthermore, the roads in Japan tend to be narrow and crowded, so the mileage is relatively low compared to other countries. While these online cars auctions are an excellent deal for Japanese in the local market, the resale price really blossoms when exporting to other countries such as New Zealand, Australia, and the UK.
How do you know the cars are reliable? Independent inspections are done that show every detail about the car so that buyers know what they are getting is reliable. The inspections are incredibly strict, and the inspectors pride themselves on accuracy. Diagrams and charts on the inspection sheet let the buyer know everything about the car in great detail, including even the tiniest scratch or mark.
The bidding process is a matter of wait and see, it is done swiftly and in an exciting manner, with most auctions taking place in less than a minute. All the participants have an individual station that lets them bid via a handheld clicker. Actually, it’s possible to bid online if you have the clicker attachment. During the commencement of the auction, each bidder clicks the button and the price goes up. Many times sellers will impose a price that the highest bid must reach or the car will not sell. This is called a reserve price. When the bidding stops, the auction is over.
What do you do if you have the highest bid? Well, you have to pay for it! If you are exporting the car, there will be some more work you need to do. If you plan to send it overseas, the auction house can hold onto it for a few days while you arrange transportation. If you are not exporting, you can have the car as soon as you submit payment.