Long story short, I won an item for 500,000 yen this morning when the exchange rate was over 149 JPY/USD. However they charged me $3545 including the 800 yen fees.

Basically they charged me at the rate of 141 JPY/USD which is almost 6% of current exchange rate. I'm seeing in this sub now that people are claiming they charge 3.5% or something like that for exchange rate conversion but nowhere in their fine print do they say that. Before I bidded, I went to their FAQ to confirm their exchange rate policy.

FAQ:

1 https://faq.buyee.jp/article/157?lang=en

Q.When is the currency exchange rate determined for auctions? The currency exchange rate is determined when the auction closes.

A.When you bid on an auction, there is an estimation of the fee based on the current price in Japanese Yen. Please notice, that this is only an estimated exchange rate.

※For eBay items, the rates will be shown in USD.

2 https://faq.buyee.jp/article/149?lang=en

Q.When is the exchange rate updated?

A. Generally, the exchange rate is updated between 11AM – 12 PM (JST) based on the market exchange rate.

However, in exceptional cases, the exchange rate may change at other time periods.

For those saying, BUYEE is providing a service and that's how they make money off the exchange rate. First off, they never disclose this huge hidden fee (sure it's nominal for a 10,000 yen item but that's besides the point) and second, I've done business in Japan for over 20 years so I'm very much aware of how converting works. Any major Japan bank usually charges you about a yen above the current price. Even if there is a conversion fee, it should be disclosed at the POP or the bidding. I honestly don't know how this is legal.

Anyway, I already have an inquiry in and also going to dispute with my CC if they don't make any changes. I don't think Buyee has any legs to stand on to win this dispute.

Just a warning for folks who plan on purchasing through Buyee.