Editor’s Note
This article highlights the launch of “YGAUCTION,” a new jewelry auction platform by Tokyo-based venture YOUGO. Founded by industry veteran Takeshi Mitsuhashi, the company is focusing on sourcing items from buyback shops to build its inventory.
YOUGO (Taito-ku, Tokyo) launched its jewelry auction “YGAUCTION” in August. The company is a new venture established by Takeshi Mitsuhashi, who previously served as president of Rs-JAPAN. The company aims to strengthen its recruitment of items from buyback shops and other sources.
The auction format involves previewing the physical items and then placing bids online. In the test auction held in August, there were 158 lots (approximately 10 items per lot), resulting in a turnover of 100 million yen. Jewelry products accounted for about 80% of the items listed. Many of the items are polished and ready for immediate retail, live sales, or wholesale. Due to the location, overseas buyers, including those of Indian origin, are participating, and buying demand is strong.