Auction Intro overview
The Art of Bidding
Discover our curated auction formats, designed for transparency, exclusivity, and professional trading.
What is a
"Closed Auction"?
Unlike traditional auctions where hands are raised and prices skyrocket visibly, a Closed Auction is a refined test of independent valuation.
1. Blind Bidding
The current highest bid is not visible. You bid against the market, not a visible counter-bidder. Simply enter your true maximum budget.
2. Reserve Price Secrecy
The seller's minimum price is generally hidden. Even if you don't hit the reserve, being the highest bidder in a Real Time Auction may grant you a negotiation opportunity.
Flexible Control
Unlike Live Bidding, you are allowed to cancel or withdraw your bid at any time before the deadline.
Transparency
Brand Auctions: Final price visible to all.
Real Time Auctions: Final price private (Winner only).
Negotiation
Exclusive to Real Time Auctions: If reserve not met, the highest bidder may negotiate.
I. Auction Formats
Comparison based on Transparency and Rules
| Dimension | Brand Auction | Low Price Auction | Time Limited | Real Time Auction |
|---|---|---|---|---|
| Current Price (Real-time) | No (Closed) | Yes (Live) | Yes (Live) | No (Closed) |
| Result Price | Visible to all | Visible to all | Visible to all | Private (Bidder only) |
| Bid Cancellation | Yes | No | No | Yes |
| Reserve Price Visible | No | Yes (If met) | Yes (If met) | No |
| Bidding Increment | Tiered Start ¥1,000+ to ¥10,000+ |
Low Start 1st Bid ¥1,000+ |
Uniform Min. ¥1,000 |
Uniform Min. ¥1,000 |
| Special Rules | Live Bidding (Tue) | Advised not to cancel | - | Negotiation Possible |
II. Dealer Status
Privileges for Regular vs. Premium Dealers
| Dimension | Regular Dealer | Premium Dealer |
|---|---|---|
| Requirements | Simple Form | Business Reg + ID + Photos |
| Deposit | 40% of Total Bid (Pre-bid) | Fixed JPY 200,000 minimal |
| Deposit Usage | Can be used for payment | Security Only (Cannot use for payment) |
| Bidding Limit | Subject to Credit Limit | No limitation dependig on tier |
| Fee (Foreign Buyer) | 17% - 18% | 15% |
| Cancellation Penalty | ¥9,000 or 40% whichever is higher | ¥9,000 or 40% whichever is higher |
| Deposit Refund | - | Refundable after 1 year |
III. Fees & Rules
Governing Law: Japan Legislation
