Buyer Information & FAQ
It is necessary to register as a buyer before the auction begins in order to participate in an auction. A person who has registered as a buyer is given a buyer number on the day of the sale. If an agent such as a trainer is going to take part in the auction, he or she must be registered as an agent before the auction begins.
A person who has made a successful bid for a horse must fill out a sale/purchase contract with the information required and sign it. However, the sale/purchase contract becomes effective at the moment the bid for the horse is accepted at the auction. This means that all rights and obligations from the successful bid reside with the successful bidder from the moment the bid is accepted.
The purchase price, which is the successful bid price plus consumption tax, is either paid in cash or by check (in Japanese yen) to the market administration office, or transferred to a financial institution designated by the market operator by the payment deadline specified in the sale/purchase contract. Payment terms differ from sales to sales, so it will be necessary to refer to the rules for each sale to confirm matters, such as payment deadlines.
Although a consumption tax (5% of the successful bid price) is levied on sales purchases by nonresidents, the buyers can obtain a rebate by signing the rebate application documentation at the market administration office. The rebate will be the amount of tax paid, less the rebate application fee and the remittance charges and will be paid at a later date.
- Q1: How can I register as a buyer from overseas?
- Q2: Are purchases made by foreign nationals at the sales exempt from consumption tax?
- Q3: The rise in oil prices is pushing up air transport expenses worldwide. What is the cost of shipping racehorses out of Japan?
- Q4: I've heard that some countries have banned imports of horses from Japan due to an outbreak of equine influenza. What's the situation with this?
- Q5: Is there any help available in making arrangements for transport and lodging in Japan?
- Q6: What are prices for horses sold at Japanese racehorse auctions?
- Q7: Are there facilities available, where, horses purchased at yearling auctions can be kept until they are exported, or be stabled for a certain period for breaking?