Japanese Luxury Watch Auction Startup Timepeaks Annouces "auction auto-extend feature" Launched
An overview of the auction auto-extend feature
Until now, Timepeaks has held auctions which close at a set time, however a situation has developed whereby bids become concentrated during the period right before the auction is due to close, and even if bidders have the budget for purchase, they are unable to successfully bid on the merchandise.
Because Timepeaks is an international auction, with users from many countries, we thought it was necessary to provide time to place another bid in order to compete with sufficient time in case the highest price is updated. With the introduction this time of the "auction auto-extend feature", it will become possible to bid with more time to spare.
The auction auto-extend feature is a function that will extend the closing time of an auction by 10 minutes if a bid is placed within 5 minutes prior to the auction closing. With this feature, time is created in which to think about whether or not to place a higher bid if somebody places a bid right before the auction closes, and therefore all users will be able to more fairly successfully bid on the merchandise.
Timepeaks, which started in 2012, is a consignment based auction specializing in brand name watches. We mostly handle luxury second hand watches such as Rolex. At this time, we sell second hand watches in Japan to the world through Japanese website(http://timepeaks.jp) and English website (http://timepeaks.com). Because merchandise can be put up for sale by just couriering it to Timepeaks, even people who rarely use the Internet can sell using an Internet auction.
Most of the watches we handle have been requested to be sold, therefore a feature of this auction is the large number of bargains which can be successfully bid on cheaply. At Timepeaks, the watch is checked by our manager, who has detailed knowledge about watches, and is confirmed to be genuine and not a fake before purchase by the successful bidder. It has become an Internet auction which you can bid on with peace of mind even without seeing the actual item.
Another feature of Timepeaks is that most of the watches can be inspected in advance at the Shibuya head office.
3-18-4 Shibuya san-choume-building 5th floor
Shibuya-ku Shibuya Tokyo Japan
Zip Code 150-0002
Tel +81-3-6418-7204 Fax +81-3-6418-7204