Editor’s Note
This article highlights the significant growth of Japan’s online secondhand goods market, focusing on the high-value auction platform “Ribaoku.” The data underscores a robust consumer trend towards luxury pre-owned items, particularly high-end watches.
The scale of the online bidding-based secondhand goods market “Ribaoku” is expanding.
It is operated by STAYGOLD, a major brand reuse company (Shibuya-ku, Tokyo). The combined monthly turnover for all auctions ranges from 2 to 2.3 billion yen. The average winning bid price for watches is between 1 and 1.2 million yen, with brands like Patek Philippe and Audemars Piguet also being traded.
While watches were initially the main focus, product diversification is progressing. Auctions are held: watch auctions on the 12th and 26th of each month, jewelry auctions on the 27th, and bag auctions, which were previously only on the 14th, have added the 28th starting this year. The company once considered launching a separate auction for lower-priced items, but a survey of registered dealers revealed high demand for bags, leading to the decision to hold bag auctions twice within the same platform.