At Yahoo Auction I talked to you about the other day, someone placed a bitd of JPY633 million on a piece of land listed by Wakayama Prefectural government office and won the auction. The land used to be a part of the ground of a senior high school (10044m2) and since its agriculture course was abolished in 1991, it has not been used and has been bare land for a long time. Referring to a real-estate valuer’s opinion, they set the minimum bidding as JPY549 million; but the price of JPY84,000,000 more was placed. (The highest bidding at the Yahoo Auction before this was JPY316,300,000 for the government house in Bunkyo-ku, Tokyo.)
The name of the bidder has not been disclosed but a condition of the sale is to use it for a commercial establishment or housing. This part of the town has been attracting more people as a commuter belt of Osaka and mass merchandise outlets have been built one after another. The land was along a national road. The spokesman from the prefectural government’s administration department commented “The land attracted a lot of people’s attention through the internet and got this high price! In this recession, we are really, really grateful”.
At the Yahoo Auction, now not only private users and shops, but government and other public offices started uploading onto the website and listing their properties and some assets they forcible collected due to tax defaults. Until then, they were just waiting for public bidding after advertising by notice through the official gazettes but now by listing them up at a large online auction site like Yahoo Auction, they can attract more people’s attention, attract bids nationwide and can expect higher bids than they could have expected before. Also the bidding process is very clear for everyone to see, they are listing more & more stuff there.
We once won the auction for a minicoach (29 passengers) for a customer at this Yahoo Auction’s government and other public offices section. The bus had been actually used by a government office, so it was well maintained by a dealer every year and the condition was excellent and satisfactory. The customer was also happy.
Checking overseas auction sites, I found the latest article on the US’s e-bay. It reported not the highest bid, but the lowest bid! A person living in Chicago bought a house in Saginaw County for US$1.75 (the top bid for the auction!). The house was sold because of the US’s recession and the seizure notice was still on the door and to own the house, the winner had to pay US$850 tax and some more to get rid of the over-grown grasses.
We, at JPC started exporting parts at the same time as the Yahoo Auction agency service. We are sometimes asked if we can export a used engine. Unfortunately, well maintained engines are not cheap as a part and sometimes you can buy a whole car at auction for half the price of a good engine.
Auction prices are decided by the demand and supply system. This is the reason some things get an incredibly high price and some do not get even a minimum bid. Please join us!
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(Editor)
JPC TRADE CO.,LTD.
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Japan Used Motor Vehicle Exporters Association (JUMVEA)
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13 years ago
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