There are more than a hundred auto auctions in Japan and many are managed by large auction operators such as USS, CAA, HAA, TAA, and JU. More than 100,000 cars are auctioned every week. Each auction is regularly held on the same day every week.
Exhibited cars must be brought to the auction hall before the auction day and are inspected and graded by certified auction assessors. After the inspection, evaluation sheets are made available to authorized members to check the vehicle condition prior to the auction day.
Each car is auctioned within approximately 30 seconds by systematically collecting bids from bidders throughout Japan. Unlike internet auctions like Yahoo or E-bay, bidders manually place bids by pressing a button on a joystick while the price increases at high speed. The increments vary from 3,000 to 5,000 yen depending on the auction hall. In addition, bidders are only entitled to purchase a car once the reserve price that the seller has set is reached.
Please click here to see live footage of a car being auctioned and purchased.
Please click here for further details of auctions.
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