FAQ: How do I Place Bids (Wholesale B to B)

Title:

1. How do I Place Bids? firstly top up 40% of bid value to wallet

2. Can I modify or cancel my bids?

 

3. Auction Time Schedule 

 

4. What do I do after I’ve placed a bid? where to check my bid status

 

5. How do I know if I won a bid?

 

6. Successful Won bids and explanation

 

7. Where do I find my order invoices after I won items from auction?

 

8. When and how to release pre-bid amount back to wallet? Wallet withdrawal

 

9. How much does shipping cost and process?

 

10. How long does it take to receive my order?


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1. How do I Place Bids
  1. Regular User/Dealer will need to top up wallet first inorder to place bids: Bids will be validated once 40% of the pre-bid amount is made, the amount will be locked and released to your wallet after the auction is over.

    (For Premium Dealer, please refer to “Terms and Conditions”.)

  2. When does the bidding starts:
    Low Price Auction / Value Price Auction list is updated on Thursday and the bidding starts on Friday midnight and you can place bids till Monday and it ends at 5.00pm.
    There will be different extended bid deadline change for each period at 5.00pm, 5.20pm and 5.40pm.
    *5.00PM bid ends for Accessories, Watch, Jewelries, Apparels and Others
    *5.20pm and 5.40pm bid ends for Bags, once the bags bidding time have endded you will see note in bid page “auction cannot be done”.
    Low Price auction is an open auction that you can see the current price and if you are overbided or you are the top bidder in the bids column. You can see if you have reach Reserve price or not which is the seller request price.
    • Top = Highest bid placed and stand a chance to win the bid.
    • Overbidded = Your bid have been outbid by other bidder.
    • Reserve met = The current price met the seller required selling price.
    • Reseve not met = The current price have not met the seller requested selling price.

(Last Minute Sell-Through) Reserve price not met but still stand a chance to win
For items which have not reach the reserved selling price and was not successfully sold in the auction, the seller will have an option (quick selling products method) to sell to whom the highest bids placed by the buyer. The items will be considered sold to the buyer without the buyer’s consent by 10:00pm and the results will be shown in the bid list on the same auction closing date.


3. Brand Auction list is updated on Thursday and the bidding starts on Friday midnight and bids will be closed at 10.00am Tuesday, the whole auction ends on Tuesday 7.30pm.

  This is a closed auction where all bids will not be disclosed. You will be able to check your won bids after the auction have ended.

 

4. Realtime and TimeLimited Auction  list is updated on Thursday and Saturday, you can place bids in different auction date which is Monday, Tuesday, Wednesday, Thursday and Friday.

RealTime is a closed auction, all bids and results will not be disclosed accept for the bids you have won and you may check your won bids and results in the bid page. As because RealTime auction is a closed auction, the current price or the results stated will be the bid price you have placed.

TimeLimited Auction which you can see the current bids and you may place a bid higher than the current bid price and it will review if you are the Top or outbid by other bidders.


(Pending for negotiation) Reserve price not met but still stand a chance to win
For items which have not reach the reserved selling price and was not successfully sold in the auction, the seller will have an option (quick selling products method) to sell to whom the highest bids placed by the buyer. The items will be considered sold to the buyer without the buyer’s consent by 12:00pm and the results will be shown in the bid list latest by Thursday on the same week for Wednesday Auction / Next week Monday for Friday Auction.

 

5. MKK Auction  list is updated on Tuessday 12:00pm and you can start placing bid till Friday and Sturday, time ending in different session and you may refer to the Auction time schedule.

Auction is a partly closed auction wherte you can see the current bid price as refference but all bids will not be disclosed and you will see the highest bidder bid price.
You may check your won bids in the bid page.

 

6. Place bids increment value:

 1. Brand Auction:

 (i) You can raise a minimal amount of JPY1,000 or higher for each bid.

 (ii) Items which is above JPY300,000 will have to be JPY2,000 per-increment per bid placed.

Items above JPY 1,000,000~1,999,000 will be  JPY 5,000 per-increment per bid placed.

Items above JPY 1,200,000 or more will be JPY 10,000 per-increment per bid placed.

 2. Low Price Auction:

 (i) You can raise your first bid at a minimal amount of JPY 1,000 and the following with JPY 500 or higher for each bid.

 3. RealTime, TimeLimited, MKK:

 (i) You can raise a minimal amount of JPY1,000 or higher for each bid.

Place bids on the items that you want.





2. Can I modify or cancel my bids?
  1. When a 'Bid' is validated
  • Brand Auction : You can always modify your bids to a higher or lower amount or even cancel the bid before the bidding end time.
  • Low Price Auction : Bid can no longer be cancelled. However, you can always raise your bids.
  • Real Time Auction : You can always modify your bids to a higher or lower amount or even cancel the bid before the bidding end time.
  • Time Limited Auction : Bid can no longer be cancelled. However, you can always raise or lower your bids not less than the current bids.

All won bids are not allowed to be cancelled.

You are most welcome to resell or sell with us.




3. Auction Time Schedule 

When does the auction starts and when does the auction ends.

You may check the auction time schedule (click here) for the on going auction and auction ending.





4. What do I do after I’ve placed a bid? where to check my bid status
where to check my bid status
  1. Check your bid status in “Bid” list in the bid page (you can find “Bid” on top of the right corner on mobile and computer).
  2. When you are in the bid page, you will have to select the auction and then the batch that you have placed bid in, to check the bid status.

Brand Auction  :

  1. Place your bids and you can always modify your bids to a higher or lower amount or even cancel the bid before the auction ends.
  2. This is a close auction all bids are kept anonymous.
  3. You can check your bid status and bid price but not the highest or current price.
  4. The auction will be running on the day and you can find the results once the item have been auctioned.
  5. You can find your successful bids in the bid list highlighted and status changed to “Won” with the result price.

Low Price Auction :

  1. Bid is confirmed and can no longer be cancelled.
  2. You can always Top up your bids but not lower your bids because it is running on real time.
  3. You can always check your bid status in “Bid” list to see if you are Overbidded or Top.
  4. You will be able to see if you have reach the seller reserve price and you may raise your bids if you have not reach the seller reserve price. (Reserve price met/ Reserve price not met)
  5. Wait till the auction ends and you will see your won bids “Won”

RealTime Auction  :

  1. Place your bids and you can always modify your bids to a higher or lower amount before the Bid closing time.
  2. This is a close auction all bids are kept anonymous.
  3. You can check your bid status and bid price in bid page and the results price will not show if you have not won on the item.
  4. You can find your successful bids in the bid list highlighted and status changed to “Won” with the result price.

TimeLimited Auction :

  1. Bid is confirmed and can no longer be cancelled.
  2. You can always Top up your bids but not lower your bids because it is running on real time.
  3. You can always check the current bid price and you can raise your bids if the current price is higher than your bid placed.
  4. You will be able to see if you have reach the seller reserve price and you may raise your bids if you have not reach the seller reserve price. (Reserve price met/ Reserve price not met)
  5. Wait till the auction ends and you will see your won bids “Won”

MKK Auction :

  1. Place your bids and you can always modify your bids to a higher or lower amount before the Bid closing time.
  2. You can always Top up your bids but not lower your bids because it is running on real time.
  3. You can always check the current bid price as a reffernce and you can raise your bids if the current price is higher than your bid placed.
  4. Wait till the auction ends and you will see your won bids “Won”




5. How do I know if I won a bid?
*Check your won bids when Auction have ended:
  1. Check your bid status in “Bid” list in the bid page (you can find “Bid” on top of the right corner on mobile and computer).
  2. When you are in the bid page, you will have to select the auction and then the batch that you have placed bid in, to check the bid status.
  3. Wait till the auction is over and you will see the bid results.
  4. If you have won a bid then it will be highlighted in green and written “Won”.
  5. After the auction have ended, Invoice will be auto generated by the system or you may go to “My Account icon” then find order page and your invoice will be generated after 11:00pm Japan time.
    (note: Low Price and Brand Auction is a tie up auction, once Low Price Auction has ended and you will have to wait for Brand Auction to end on the following day.)
  6. After that you will have to go to My Account then “Auction Orders”, you will see your order invoice, then you may select shipping method from the invoice.
  7. After selecting shipping method only then you can select payment method.
  8. After full payment is acknowledged then it will be shipped.
  9. For Wallet payment, Please make sure that you have sufficient amount in your wallet.
  10. Wallet can be top up from your dashboard and you can choose payment method, you can use your wallet to make payment to your order invoice when you have sufficient amount in your wallet.





6. Successful Won bids and explanation

Why is my bid same as the results but I have not won on the bid?

*You may notice the items will be won by the highest bid but may not needing to pay at the highest bid price.

You may have a look at the below circumstances. You may check for the successful bid explanation (click here) 

When placing bids and final bid price:

The Brand Auction, Low Price Auction, RealTime, TimeLimited and MKK Auction system in Japan is slightly different from regular auction which the price will be listed out and all dealers can see the bid price placed by others and the price will increase a lot in the last minute.

In this platform all dealers are kept anonymous and bids will not be reviewed, you may Place your determine bid price anytime once the Auction list is posted.

For example:

Dealer A place bid: ¥80,000

Dealer B place bid: ¥78,000

Dealer C place bid: ¥72,000

As usual the highest bidder will win the the item and the bid will be won by dealer A but it may be won in between the price of ¥78,000 - ¥80,000, however if there is no other live bidder who out bid the dealer B or A.

The results will be reflected in the column where you place your bids. The other items will be updated with results once the auction has ended. 

The item will be WON in addition that the reserve selling price is met.

*When Auction have ended:

  1. Check your bid status in “Bid” list (Top bar or dashboard on mobile) (top bar on computer).
  2. Wait till the auction is over and you will see the bid results.
  3. If you have won a bid then it will be highlighted in green and written “Won”.

In the event of a bid entered is SUCCESSFUL, a percentage of auction service fees (click here) will be added to the final sale price.

"buyers commission is referred as Auction Fees"





7. Where do I find my order invoices after I won items from auction?

1. You may go to your Dashboard and find "Auction Orders", you may click on it and your invoices will appear there after the auction have ended.

2. The invoice will be auto generated by the system after the Auctions have ended.

  • Low Price Auction order invoice will be generated after Monday midnight
  • Brand Auction order invoice will be generated after Tuesday midnight
  • RealTime and TimeLimited Wednesday and Friday Auction order invoice will be generated after midnight
  • RealTime Monday to Friday Auction order invoice will be generated after midnight

(Pending for negotiation RealTime and TimeLimited Auction)

For items which have not reach the reserved selling price and was not successfully sold in the auction, the seller will have an option (quick selling products method) to sell to whom the highest bids  placed by the buyer. The items will be considered sold to the buyer without the buyer’s consent by 12:00pm for Wednesday Auction the invoice will be issued latest by Thursday /  for Friday Auction the invoice will be issued latest by Monday on the following week.





8. When and how to release pre-bid amount back to wallet?

Low Price Auction and Brand Auction

  1. Low Price and Brand Auction is a tie up auction, once Low Price Auction has ended and you will have to wait for Brand Auction to end on the following day.
  2. Once the both auction have ended then you can generate your statement or it will be auto generated in your account.
  3. Once statement is generated, your lock amount for pre- bid will be released back to your wallet after midnight.
  4. If you have winnings from the auction then the invoice will be generated and you can make payment directly in the invoice or you can make payment from “Order” which you can see all your invoices.

Auction ended

  1. Once the auction has ended your invoice will be auto generated in to your "order page" in your account.
  2. Once Invoice is generated from “Statement” in “My Account” then your lock pre-bid amount will be release back to your wallet after midnight.
  3. If you have winnings from the auction then you can make payment directly in the invoice or from “Order” which you can see all your invoice in there.
Withdrawal from Wallet

You can click on Wallet Withdrawal in your wallet to withdraw your money back to your origin payment method.

  1. Please set up your payment method before making the withdrawal. 
  2. After you have submitted the wallet withdrawal, our admin will check on your account and all order invoices must be fully paid and there is no bids placed in the auctions, all amount have been unlock from wallet only then the withdrawal will be processed, other then that all withdrawal will be rejected.
  3. All withdrawal from Monday to Thursday will be checked and processed on every Friday. Withdrawal made on Friday will be brought forward to the next week and will be checked and processed on the following Friday.
  4. Please take note : it will take a few working days for the withdrawal to reflect into your origin transaction method.

Payment gateway will have a minimal charge of approximately 4% on the transaction, Overseas bank transfer will have a bank charge of JPY9,000.




9. How much does shipping cost and process?
  1. Shipping fees will be generated upon generating invoice. It will be auto-calculated by the postal company.
    You will need to select your default shipping options and postal address.
  2. Once Orders have been generated then you will have to select postal method upon making payment. After the postal method have been selected then the postal fees will be included to the invoice.
    1. POSTAL METHOD:
    1. JP Post / DHL , We ship worldwide and you have selection of JP Post or DHL for local and International courier services.
    1. MERGE  POSTAGE:
    2. Select Merge Postage to put the orders pending for courier and will wait for the next order, when you are ready to courier all the accumulated parcels then select postal method "JP Post or DHL" in the latest order, then the previous postal fees will be accumulated and charge to the latest invoice.
    1. Please be noted, if there is any change of address in the merge orders, our shipper will only follow the latest shipping address listed in the order for that shipment.

              SHIP PENDING MERGE ORDERS:          

      If you have made all payment to your existing orders and have selected Merge Postage in the previous invoices, you will see the "Pending Merge Orders" invoices on top in your order page and then you will see there will be a button (Ship Pending Merge) below the pending merge orders.

    Click on it and then you may select DHL or Jp Post for shipping and then the shipping invoice will be generated and then you may make payment to the shipping invoice.

      Once payment have been made then the pending merge orders status will be changed to confirmed an our packing team will get ready the orders for delivery.

3. Once the parcel have been collected by the postal company then the tracking number will be updated to your account orders.

4. We ship worldwide with the options of JP Post or DHL, we are not responsible for any duties and tax in buyers countries.

5. Please check your duties and tax.





10. How long does it take to receive my order?
  1. Once Buyer have made their payment then the Item will be verified and authenticated, after that it will be packed from the warehouse in the process of approximately 3 to 5 business days.
  2. The shipping will most likely to reach the Buyers’ designated location in 7-15 business days. The majority are completed in a shorter time frame.
  3. Once the package been collected by the courier company then the tracking number will be updated in your account on the platform.