Between sessions, the cafeteria of the Mirive auction house emits a hum of dealer chatter. In the air, and in many languages, is talk of commodity chaos, shipping rates, semiconductor supply chains, Chinese industrial strategy, the soaring price of a professional car wash and, since the invasion of Ukraine, war.
The auction’s setting, in the depths of the Saitama countryside, is rural; the economics in play as thousands of vehicles change hands over a few hours, could not be more global.
In the minutely balanced — and historically lucrative — business of shipping second-hand Japanese cars to emerging markets, “every single factor has an impact”, explains one buyer with customers across sub-Saharan Africa.
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