K-Auction

How to Bid

01 Member Registration

Registration is required in order to bid or sell at K Auction.

In-Person Registration

In-person registration is available at our location. A government-issued proof of identity and identity verification are required to bid in live auctions.
Online registration and identity verification are required to bid in online auctions.

Online Registration

You may also register online by accessing our website and agreeing to the terms and conditions. Identity verification is required
to bid. Once you have registered and completed the identity verification online, you will be eligible to bid in both live and online auctions.

Member Registration

Book subscription for members only

Subscribe to receive the catalogue containing every lot and its estimate for K Auction's Major (Live) auctions.
Receive each catalogue before the sale with a regular subscription.

Learn more

02 Auction Preview

The auction lots and details can be found on the K Auction website and at K Auction’s exhibition spaces during the auction period. The preview exhibition is free of charge. All lots are guaranteed ‘as is’ at the start of the auction period, and we highly recommend that you inspect lots in person before bidding.

03 Bidding

Absentee Bidding

If you have registered an absentee bid with a selected lot and maximum bid price, a K Auction specialist will bid on your behalf against other bidders on the day of the auction up to the maximum bid price. If two or more absentee bids for the same amount are received, the bid first received by K Auction will take priority. Absentee bids can be registered at our location or through our website.

Saleroom Bidding

You can register in advance for saleroom bidding. On the day of the auction, you can collect a paddle on-site to join the auction and bid in person.

Telephone Bidding

You can register in advance for telephone bidding. A K Auction specialist will call you during the auction to bid on your behalf in the saleroom.

Online Live-Bidding

After applying for the online paddle number on the website in advance, you can monitor the auction progress on the online live auction page on the day of the auction and press the Bidding button to bid.

03 Bidding

Online Bidding

You can view the current bid of each lot and select your bid amount. Bidding will close every five minutes for groups of 10 lots each, starting from the auction closing time. If a bid is placed within the final 30 seconds, bidding on that lot will automatically be extended by a further 30 seconds. If two bids for the same amount are received, the bid first registered will take priority.

Maximum Bid

If you set a maximum bid before bidding, the system bids on your behalf against competing bids up to that amount. If two identical maximum bids are registered, the lot is awarded to the bidder who submitted it first. Placing an additional bid while a maximum bid is in effect updates the maximum bid amount already submitted.

Important Notices for Bidding

In addition to the hammer price, a buyer's premium (excluding VAT) and additional buyer's fees (if applicable) will be charged.
Registration for absentee and/or telephone bidding will close one hour before the start of the auction. You can register by filling out a paper form in-person at our location or through our website.
All lots are sold "as is" at the time of the sale. Successful bids cannot be withdrawn due to the condition of a work or its frame. We recommend that you thoroughly
inspect the lot in person during the preview period before bidding.
All bids are irrevocable. Online bids in particular are accepted immediately upon clicking the "Bid" button and cannot be withdrawn or canceled for any reason.
Please refer to the Terms and Conditions and Online Auction Terms and Conditions for all other information regarding bidding.

04 Bidding Results and Payment

Successful Bid Confirmation

If you are bidding in person, a Successful Bid Confirmation will be delivered to you immediately. If you are bidding remotely, your bidding results will be sent to you by email after the close of the auction. If any modifications are necessary (including regarding the payment amount), our specialists will deliver all final bidding results.

Withdrawal of a Successful Bid

As a rule, successful bids cannot be withdrawn or cancelled. In the case of unavoidable circumstances, the buyer and K Auction must agree on the withdrawal or cancellation in writing beforehand and the buyer must, within 7 days from the date of the auction, deliver the intent to withdraw or cancel the winning bid in writing and pay the amount equal to 30% of the hammer price.

Buyer's Premium

Classification	Hammer Price (KRW)	Buyer's Premium (including VAT)
Live Auction	All sections	16.5%
Online Auction	Up to KRW 10,000,000	Hammer Price x 19.8%
Online Auction	Exceeding KRW 10,000,000	KRW 10,000,000 x 19.8% + (Hammer Price - 10,000,000) x 16.5%

Successful bidders must render full payment to K Auction within 7 calendar days from the close of the auction.
Total Payment Amount = Hammer Price + Buyer's Premium + Additional Fees (if applicable)
The buyer's premium for live auctions is 16.5% (including VAT) of the hammer price.
The buyer's premium for online auctions are as follows, depending on the hammer price.
ex) Buyer's premium for a hammer price of KRW 15,000,000
Live auction buyer's premium = 10,000,000 x 16.5%
Online auction buyer's premium = 1,980,000 + (15,000,000 - 10,000,000) x 16.5%

04 Bidding Results and Payment

Payment for Live Auctions

For Live Auctions, the hammer price can be paid by cash, cashier's check, or bank transfer. The buyer's premium and other fees may also be paid by credit card, but only in person at K Auction.

Payment for Online Auctions

For online auctions, you can complete both the payment and the collection request at once under My Page > Payment & Collection > Payment & Collection Request. The hammer price can only be paid via virtual account, while the buyer’s premium, additional fees, and shipping/installation costs may be paid by virtual account or credit card.

Classification	Item	Payment Method (Select 1)	Notes
Live Auction	Hammer Price	Cash, cashier's check, bank transfer	Credit card payments must be made in person at K Auction
	Buyer's Premium, Additional Fees	Credit card	Credit card payments must be made in person at K Auction
	Credit card payments must be made in person at K Auction
Online Auction	Hammer Price	Virtual Account	Payment is available when requesting collection in My Page.
	Buyer's Premium, Additional Fees, Shipping/Installation Fees	Virtual Account, Credit card	Payment is available when requesting collection in My Page.
	Payment is available when requesting collection in My Page.

Bank transfer details

Account details: KEB Hana Bank 196-910005-07204 (Account holder: K Auction Ltd.)
If the bank transfer is made under a name different from the successful bidder, please include the bidder's name in the transfer notes.
Payment Inquiries: +82-2-3479-8894 (Finance Department)

05 Shipping, Installation, Storage

Shipping for Live Auctions

Objects purchased in live auctions are exempt from domestic shipping fees, provided that payment is rendered in full within 7 calendar days from the closing date of the auction.

Shipping for Online Auctions

Objects purchased in online auctions must be collected within 7 calendar days from the closing date of the auction. Shipping may be requested if in-person collection is not possible. Shipping fees will be charged as below.

Domestic		International
Seoul	KRW 50,000	Additional fees apply
Seoul Capital Area (Incheon, Gyeonggi)	KRW 100,000
Other areas within South Korea	KRW 150,000

KRW 10,000 for each additional object (limited to objects bought in a single delivery; must be shipped to the same address on the same date)
ex) 3 objects to be shipped within Seoul: KRW 50,000 + 10,000 + 10,000 = KRW 70,000
Additional fees may apply for unique delivery circumstances such as no-elevator (walk-up) buildings, ladder truck requirements, etc.
Parcel delivery is available for select items. Shipping fees will be determined based on location, weight, and volume of item(s).
Parcel delivery may not be available depending on the weight and value of item(s).
Luxury goods and musical instruments must be collected in person.
For in-person pickups, please contact your specialist by 5 pm of the day before to reserve pickup. (For weekends and holidays, pickup must be reserved by Friday or the last prior business day.)
A standard passenger vehicle can accommodate items up to 90x120cm in size. Please double-check the item size and your vehicle capacity before pickup.
Available pickup times: Monday through Sunday, 10:30 - 18:30 (Excluding lunch time from 12:00 to 13:00)
Pickup is not available without prior reservation.
Shipping Inquiries +82-2-3479-8888

05 Shipping, Installation, Storage

For lots purchased in K Auction sales, installation may be requested in addition to shipping. Advance notice is required for all shipping and installation requests.

Classification	Less than 50	50 to under 80	80 or higher
Per artwork	KRW 30,000	KRW 50,000	KRW 100,000
Per added artwork	KRW 10,000	KRW 20,000	KRW 30,000

Additional fees may be charged depending on the condition of the installation site (marble, concrete, partitions, rails, etc.).
Installation may not be available if advance notice has not been received by K Auction.

05 Shipping, Installation, Storage

All objects must be collected within 7 calendar days from the closing date of the auction. Objects remaining uncollected after this time period will incur a storage fee of KRW 30,000 per object per day regardless of whether the purchase price has been rendered in full.

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