Bidding Procedure and Regulation
Merchandise will be sold by competitive bidding, and cannot be withdraw, or refuse any bid that exceed the reserve price.

A buyer can revise a previous bid cast by casting a correction bid, and the highest correction bid will be recognized as a buyer's final bid and will cancel a buyer's previous bid.

If more than one bid have been received in the same amount for a particular lot, the Association may determine the acceptable bid by a draw.

All bids must be expressed in Japanese Yen in a minimum units of 100,000 Yen.

Ownership of all merchandise remains with the Association until the full price has been paid in accordance with the conditions of sale. And upon payment in full, risk and ownership passes to the buyer.

Buyers can and should inspect each lot of merchandise before bidding on the preview area. And the Association will provide detail and description of merchandise to be auctioned.

FLOOR PRICE
Once the exhibitor has shown his floor price, no bid will be accepted
below the floor price. An exhibitor can not pull out his goods.
The Cooperative can not send items on the day of the auction.