Tokyo, Japan – Aucnet Inc. has acquired full ownership of SG e-Auction Pte. Ltd., its Singapore-based joint venture focused on second-hand luxury goods distribution, as part of a broader strategy to expand its presence in the ASEAN and Oceania markets.
The Tokyo-headquartered circular market design firm said the acquisition aligns with its long-term goal of strengthening its global network and increasing distribution capabilities for pre-owned luxury goods.
The move builds on Aucnet’s earlier partnerships and expansions across Japan, North America, and Europe.
Aucnet entered the second-hand luxury space in 2015 through Aucnet Consumer Products Inc. (ACP), which now operates one of Japan’s largest online luxury auctions, handling over ¥52 billion in annual transactions through partnerships with more than 5,500 companies.
The company deepened its B2C exposure with the acquisitions of Gallery Rare in 2020 and Defactostandard, operator of the Brandear platform, in 2024.
SG e-Auction was initially established in 2017 as a joint venture with a leading Singapore pawnshop, giving Aucnet access to the region’s growing resale market. The platform currently serves about 400 members across ASEAN.
The full integration of SG e-Auction is expected to accelerate Aucnet’s regional growth, expand customer service capabilities, and reinforce brand recognition in Southeast Asia and Oceania.
The company also plans to rebrand SG e-Auction as Aucnet Asia Pacific to reflect its regional ambitions.
Founded in 1985, Aucnet pioneered real-time used car auctions and has since expanded into digital products, motorcycles, and fashion.
Its latest move underscores the growing demand for authenticated resale luxury goods and positions the company as a key player in the global circular economy.
Business News Asia