Car auctions in Japan, are quite a sight to behold. 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 you may not know is that on almost every day of the week in Japan, thousands and thousands of cars are being sold at auctions all over the country. Just in Kobe, the second largest auction house in Japan, the Saturday auction usually sell about ten thousand cars. Every make and model you can think of goes through the auction system every single week.
How are the cars supplied to the auction? 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. On top of that, the mileage on the cars tend to be very low compared to other countries due to the crowded and narrow roads. While the cars a good deal for Japanese in the domestic market, the resale value really shines when exporting to countries such as New Zealand, Australia, and the UK.
How can you trust the cars are in good condition? Every aspect of the car is examined by an independent inspector, so buyers can see every detail about the car before they bid. The inspections are incredibly strict and the inspectors pride themselves on accuracy. Anything you would want to know about the car is in the inspection sheet, from mileage and features, to a diagram showing any marks or scratches on the exterior.
How does bidding work? The auctions are incredibly fast and take about 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. As bidders click their buttons the price runs up. The seller can set a reserve price, so if the car does not meet that price, the car does not sell. When no one is clicking the button anymore, the auction is over.
What do you do if you have the highest bid? It's time to buy the car! After that it depends on if you are exporting or not. When exporting, transportation from the auction house to the ship needs to be arranged. If you are not exporting, you can have the car as soon as you submit payment.
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If you're thinking about importing your own JDM car, be sure to do as much research as possible and find a reliable auction agent. You can also learn more about buying and importing, as well as seeing actual auction listings here: Learn More about Japanese Car Auctions
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