Japan Auction House Embraces Phygital Channels

The online auction platform of Japan Auction House: japanauctionhouse.net

Japan Auction House Embraces Phygital Channels

Julius Zheng

Japan Auction House (JAH) is a branch of Rich Diamonds Inc. based in Tokyo, which derived its reputation as a dealer in the finest-made diamonds and manufacturer of diamond jewellery. Additionally, as a pioneer in the second hand goods and auction market with more than 20 years of experience, the company collects colour-stone jewellery, second-brand jewellery, and brand watches from local Japanese pawn shops and auction associations.

Japan Auction House has offices all around the world, including in Hong Kong, Shanghai, New York, Los Angeles, Mumbai, and has just recently opened an office in Dubai. The company wants to continue connecting the bridge between Japan and the world in the diamond, jewellery, and watch industry. The new Dubai office hopes to share Japanese fine quality with its unmatched prices along with its auction model to better source the market with goods.

Auction Model

Japan Auction House conducts monthly auctions featuring thousands of polished diamonds, sourced directly from local Japanese pawn shops, which allows its users to purchase certified stones without the need for travel. The company employs advanced imaging technologies to provide its customers with maximum convenience and confidence in their transactions. Each product is accompanied by numerous high-definition images and 360-degree videos, ensuring a comprehensive view of the item.

In addition to diamond auctions, the company also host colour-stone jewellery and watch auctions three times annually. These events feature live viewings in Japan, Hong Kong, and Bangkok, offering a tactile experience to its clientele.

Looking ahead, Japan Auction House will soon be hosting live viewings in Dubai. By continually expanding their services to new locations, the company aims to make the auction experience as accessible and practical as possible.

Trade Shows

After the pandemic, Japan Auction House is gearing up to showcase its offerings at upcoming trade shows around the world, notably in Bangkok and Hong Kong. These exhibitions will provide clients with a firsthand experience of its goods and auction process. Recognizing the robust market for colour stone jewellery in Thailand, the company plans to host an exhibition and auction again during the Bangkok Gems and Jewellery Fair in September, which will provide potential buyers with the opportunity to closely inspect its auction items in person, offering them reassurance and confidence in their purchases.

Additionally, these events allow clients to gain a deeper understanding of its auction process and learn more about future auctions. By introducing Bangkok buyers to its online auctions, The company aims to demonstrate the ease and convenience of purchasing from the comfort of their own homes.

The company believe that once customers build trust through the high-quality photos and detailed descriptions provided online, they will feel comfortable making purchases remotely. Its goal is to blend the traditional, tactile experience of in-person inspections with the modern convenience of online auctions, providing the best of both worlds to its clients.

 “Our main objective is our clients. We always want to focus on quality over anything, which is why we put a lot of emphasis in our buying. By creating long lasting relationships with our clients, we have come into the position that we are in right now. I will never want to sell an item if I know the customer will not make a profit in the future. We have achieved great success in the shows that we have participated in Hong Kong, and I am confident that we can emulate that same success in Bangkok as well,” said Shivam Agarwal, Japan Auction House Team Lead who participates in both shows.

Shivam Agarwal, Japan Auction House (JAH) Team Lead

Online solution

Japan Auction House has largely built its success on global exhibitions, leveraging its free trade port proximity to the Japanese market. In recent years, the company shifted its strategy and started hosting online auctions, which allows it to continue serving its market and even expand its reach. The company invested significantly in high-quality photography and video production to accurately portray the items up for auction.

The company launched its online platform with loose diamond auctions that had no minimum prices and waived both seller and buyer commission fees. This approach enabled buyers to acquire goods at competitive rates, yielding substantial profits.

Currently, the auction process is entirely online. However, customers can still participate in live viewings either privately or during shows. The company provide high-resolution photos of each product, allowing buyers to make informed decisions remotely. Each auction lasts about 40 hours, and over 80% of the lots have no reserve price. Clients can also place a proxy bid - their maximum bid for a particular lot - so they don't have to constantly monitor multiple items.

"In our company history, we have been collecting goods from local pawn shops and auctions, and selling them in person. However, we wanted to change this with the current technology that has been provided to us. With cutting edge innovation and creative ideas, our own team hopes to bring you ease when you are buying. With our auctions you will not have to leave your room when you want to buy goods. For us, the customer is always our first priority, so we will be there to support you along your journey through our site. Please sit back, relax, and buy with ease," concluded Anup Kumar Arun Agarwal, Managing Director Japan Auction House.

Anup Kumar Arun Agarwal, Managing Director of Japan Auction House (JAH)

5.6ct Vivid Green Colombian Emerald ring offered by JAH in the Bangkok Fair

4.11ct Sri Lankan Padparadscha Sapphire ring offered by JAH in the Bangkok Fair

11.55ct Royal Blue Sri Lankan Sapphire ring offered by JAH in the Bangkok Fair

About the author

Julius Zheng is a jewellery industry analyst and senior consultant to various important firms and institutes. He has developed various projects that connect China’s diamond, coloured gemstones and jewellery sectors with international markets, including organising over 40 China Jewellery Delegations. As a gemologist and educator, he has developed international gemological educational programs. 

Formerly General Manager of Rapaport China, he has over 20 years’ international working experience in Asia and North America. He is also a member of the Executive Board of Bangkok Diamonds and Precious Stones Exchange (WFDB affiliated).

TAG: Julius Zheng, Anup Kumar Arun Agarwal, Japan Auction House , Bangkok Fair, Japanese market, Shivam Agarwal, online auctions, Dubai, Rich Diamonds Inc, Bangkok Gems and Jewellery Fair