by "Flavien Vidal" (flyingfrenchy)
Published 06/07/2017 at 05:58
by "Flavien Vidal" (flyingfrenchy)
Published 06/07/2017 at 05:58
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STARS: 3
Today I did something I rarely do: going to a dealer auction in person to bid on a car. About 50% of the cars I export outside of Japan come from dealer auctions, but I rarely go there myself to bid. Today was an exception and I went to buy a SJ10 Suzuki Jimny that really needs love... The auction lasted a total of 9.5 seconds... Don’t blink :)
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This car is for a friend of mine here in Okazaki, where I live, and won’t be exported though...
"facw" (facw)
06/07/2017 at 06:03, STARS: 0
Fancy. And yet really doesn’t seem like there’s much need to be there in person?
"Flavien Vidal" (flyingfrenchy)
06/07/2017 at 06:07, STARS: 1
Some people prefer to come in person to really fight it out... But not only am I not the one taking care of that (I decide what cars I want to buy and sell, but don’t do the bidding myself), most of the time, we just apply for automatic bidding in advance. We enter our max bid a day before and hope for the best.
"pip bip - choose Corrour" (hhgttg69)
06/07/2017 at 06:09, STARS: 0
how much did you end up getting it for?
"Flavien Vidal" (flyingfrenchy)
06/07/2017 at 06:12, STARS: 5
Come on, it’s a 42s video and you didn’t watch it until the end?? Attention span: Level Trump! :)
81000 yen
"pip bip - choose Corrour" (hhgttg69)
06/07/2017 at 06:45, STARS: 1
oops, my bad
missed that bit.
(just watched it again)
*i’m a bright person* s/
"Flavien Vidal" (flyingfrenchy)
06/07/2017 at 06:53, STARS: 0
haha no worries :)
"Wrong Wheel Drive (41%)" (rduncan5678)
06/07/2017 at 08:36, STARS: 0
But does it work like Ebay? Where you end up losing to someone else in the last 5 seconds of bidding by like 50 cents? It always seems those auctions are decided in the last 10 seconds or so.
"Flavien Vidal" (flyingfrenchy)
06/07/2017 at 08:45, STARS: 0
Well considering that the entire auction lasts less than 10s, you sort of do lol
"haveacarortwoorthree2" (haveacarortwoorthree2)
06/07/2017 at 09:17, STARS: 1
I don’t even understand what happened here. lol
"Flavien Vidal" (flyingfrenchy)
06/07/2017 at 10:31, STARS: 0
Haha, were buying the car on the right :)
"Spoon II" (Spoon_II)
06/07/2017 at 11:16, STARS: 0
Haha, that’s crazy! I have a new life goal, I really want to bid on something there
"haveacarortwoorthree2" (haveacarortwoorthree2)
06/07/2017 at 11:17, STARS: 2
So there are two separate auctions going on at once and each auction lasts only for a set time of 10 seconds? If that’s right, is this system set up to incentivize bidders into using max bids so as to drive the price as high as possible in as little time as possible (as opposed to the back-and-forth bidding in live auctions, which lasts until someone gives up)?
"Flavien Vidal" (flyingfrenchy)
06/07/2017 at 11:22, STARS: 0
As you can see on the videos preview picture, there can be up to 4 at the same time... We selected two to watch on our screen, but we can also choose to see all 4. Four controllers are available per desk, so technically, if you have 4 hands, you could bid on four cars at the same time lol. Some bigger places, like USS Tokyo, have 6 auctions at a time...
The system is set that way because certain auction houses have to sell over 10000 cars in a day. It doesn’t drive prices up, it’s just fast and does require a bit of practice :)
"haveacarortwoorthree2" (haveacarortwoorthree2)
06/07/2017 at 11:37, STARS: 2
10,000 cars in a day? That’s amazing. How often do those types of auctions occur?
"Flavien Vidal" (flyingfrenchy)
06/07/2017 at 12:05, STARS: 0
It depends... Once a week usually. There’s something like 80 or 90000 thousand cars sold at auction every week here all over Japan... USS Tokyo or HAA Kobe sometimes have up to 15000 cars that get did in one auction day.
"haveacarortwoorthree2" (haveacarortwoorthree2)
06/07/2017 at 12:10, STARS: 0
Sorry for the 20 questions — just found this very interesting. Thanks for posting.
"Flavien Vidal" (flyingfrenchy)
06/07/2017 at 12:29, STARS: 0
No problem :)
"gmporschenut also a fan of hondas" (gmporschenut)
06/07/2017 at 21:14, STARS: 0
can you inspect the car? the lot must have been huge.
"Flavien Vidal" (flyingfrenchy)
06/07/2017 at 21:35, STARS: 0
Yeah, I very very rarely buy a car at auction without inspecting it first... Too many hidden defects. And the lot is huge indeed... Lots actually, there are many spread around at this particular auction.