Editor’s Note
This article highlights Best Buy’s strategic expansion into the branded secondhand market through a new auction platform, reflecting the growing consumer demand for luxury resale and the increasing integration of specialized digital services within traditional retail.
Best Buy (Osaka City, Osaka Prefecture), which operates the buy-and-sell specialty store “King Ram” and the general reuse store “Ryohin Kaikan,” launched the “King Ram Luxury Store Auction,” a secondhand market for branded goods, starting February 20th. The auction is held utilizing the auction system provided by “Star Buyers Auction” (hereinafter: Star Auction) operated by Valuence Japan.
The bidding is held online. Bags, watches, jewelry, apparel, etc., are auctioned off during the last week of each month (non-branded jewelry only in the third week). It is said that rare items such as vintage items from the 80s and 90s and discontinued products will be listed. On Star Auction, the expected winning bid for bags, watches, and jewelry is 30,000 yen or more. Apparel and other items have a listing standard of 10,000 yen or more, and Best Buy follows this standard. The buyer’s premium is 5% (10% for apparel, shoes, and silver brands only). Participation requires registration as a member of Star Auction.