David, and all,
I noticed something, NOT new, but I am pretty sure now. Japanese colectors in general, they care/love more about "parts" than "frame". They are NOT vintage bike collectores but rather parts collectors.
Over 30 years ago, the trend was the same. They imported a lot of parts but not a whole bicycle nor Western(US and European) frames, they made very good frames for their needs and size, (then many riders were avarage 5'-6" with shoter legs), the most of frames were TOO big for them.
Today, the situation maybe a bit different, but baby boomer who can afford those EXPENSIVE parts who grew up in BIKE boom of late 60's and 70's are more interested in parts than fine frames. When I saw 7100.00 PX-10 were sold to Japanese buyes, I told one of our member the auction was more likely for parts than frame and it would come back to USA without parts. I think this type of sales happening before.
So "what' s missing in this eaby auction" is our knowledge, we can get more money out by selling parts by parts not a whole bike!
I want to note that Mr. T. Node is exceptional Japamese collector, his love and care about bicyle is the same way as ours, a whole bike and rides!
KEN TODA, still studying Japanese collector and vintage bike market.