TWO TYPES OF AUCTIONS: USUAL AND TENDER


The most common style of bidding is done live by clicking a button, though the process is a lot more complicated than it seems. This form of bidding is similar to a “war of attrition”, you keep on clicking on the button until the other party can not afford another cent (yen), and the car is bought at the top price to the seller. The largest of these is the USS Tokyo auction, where 8 lanes of cars are sold at the same time non stop until the auction finishes.


Other means of bidding occur in the “Nyusatsu Auctions“. This is a tender type of bidding. A registered bid is secretly placed with the auction. At a set time the auction declares the winner. Bargains are often made in the “Nyusatsu” auctions though cars can be lost to another party by just a few yen.