This article serves as a practical guide for bidders on how to navigate and participate in a live Japanese auction using the Keelvar Bid Sheet interface. It details the step-by-step process of managing dynamic lot responses, instructing participants to review time constraints, accept incremental ask prices to stay in contention, or reject prices when their limit is reached.
A Japanese auction is a dynamic event format where the purchaser sets the ask price, which adjusts incrementally round by round. Participating bidders confirm acceptance or decline each published price within a designated time window.
Accepting the published price keeps you in contention for the next round. There are two ways to leave a lot:
- Rejecting a price. If a Reject option is available on the lot, using it removes you from the lot immediately and permanently.
- Missing a round. If the countdown expires without a response, the round is recorded as a missed round. A missed round does not remove you from the lot on its own. You are eliminated only once your missed rounds exceed the allowance set by the organizer.
Following acceptance of the event invitation, participation begins once the event becomes live according to the organizer schedule.
The Bid Sheet tab displays each available lot with the current Ask Price, active round counter, and countdown clock. Bidders must actively submit acceptance to remain in contention.
Place bids in a Japanese auction
The Bid Sheet interface uses a single-row-per-lot layout. When the event is live, manage lot responses using the following steps:
- Review round parameters: Monitor the active round counter and countdown clock. Action is required before the round countdown reaches zero.
- Accept the ask price: Click Accept to agree to the published price and qualify for the subsequent round. Selection confirmation locks immediately for the remainder of that round.
- Reject the ask price: If a Reject option is shown for the lot, click Reject to decline the published price. This triggers immediate elimination. Rejection is permanent. You cannot rejoin the lot in later rounds. If no Reject option is shown, the organizer has not enabled rejections for this event.
- Track missed rounds: If the countdown expires without a response, the round is recorded as a missed round. A missed round is not elimination on its own. You are eliminated only when you exceed the missed-round allowance configured by the organizer, and that elimination is permanent. If the allowance for an event has not been communicated to you, confirm it with the organizer through event messaging before the first round closes.
Bid status indicators
The interface displays the following status indicators to track participation status per lot:
- Active: Lot is open and requires an action before the round timer expires
- Joining next round: Admission occurred mid-round; participation starts at the beginning of the subsequent round
- At end price: Published ask price reached the bidder ceiling; status displays "No response needed" while the round continues for remaining bidders
- No longer active: Bidder elimination occurred either due to explicit rejection or exceeded missed-round allowance
- Closed: Bidding concluded for the lot
- Won / Lost: Post-event outcome published (visible only when the organizer enables outcome feedback)
Bidder visibility
In a Japanese auction, each bidder view is restricted strictly to the designated individual price progression. To preserve auction integrity and competitive dynamics, participant counts, competing bid amounts, and sole-bidder states remain confidential throughout the live event.
Next steps
- Confirm all submitted responses on the Bid Sheet before the conclusion of each round
- Monitor lot status notifications when round intervals advance
- Contact the event organizer through event messaging for clarification regarding decrement rules or missed-round tolerances