How to Bid

Step.1

Member Registration

Registration is required in order to bid or sell at K Auction.
Members can access auction results and artwork images through our website and receive e-catalogues and auction news by email and SMS.

In-Person Registration

In-person registration is available at our location. A government-issued proof of identity and identity verification is required in order to bid in live auctions. Online registration and identity verification is required in order 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 in order to bid. Once you have registered and completed the identity verification online, you will be eligible to bid in both live and online auctions.

Book subscription for members only

For each live (major) auction, KayAuction publishes a Catalog.
The Catalog is popular with collectors as it contains all the artwork entered, pricing information, and more.
You can subscribe to a book from your My Page > About tab > Account Settings
Subscriptions cost KRW100,000 year and are sent before each live auction. (approx 12 times)

Step.2

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.

Step.3

Bidding

Live Auction

Absentee, saleroom, and telephone bids are accepted in live auctions. In addition, online live-bidding is available through our website's online live system.

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.

Online Auction

You can view the current bid of each lot and select your bid amount. You can bid in real time or select a maximum bid amount. The online live system will bid on your behalf against competing bids up to your selected maximum 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.

응찰 유의사항 아이콘 Important Notices for Bidding

Buyer's premiums (excluding VAT) and additional buyer's fees (if applicable) may be charged in addition to the hammer price.
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 for concerns regarding the condition of the work and/or the frame. We recommend that you inspect the lot in person during the preview period before submitting a bid.
All bids are irrevocable. Online bids in particular are accepted immediately upon clicking the "Bid" button and cannot by withdrawn or canceled for any reason.
Please refer to the Terms and Conditons and Online Auction Terms and Conditions for all other information regarding bidding.

Step.4

Bidding Results and Payment

Bidding Results

If you are bidding in person, a Successful Bid Confirmation will be delievered 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.
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

Sucessful 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.

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%

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%

Payment

Payment can be rendered in cash, bank checks, or wire transfer.
Credit cards are accepted for buyer's premiums only (credit card payments must be done in person at our location).

Bank transfer details

Account details: KEB Hana Bank 196-910005-07204 (Account holder: K Auction Ltd.)
If the wire transfer is made under a different name from the successful bidder, please make sure to note the name of the successful bidder in the wire transfer details.
Payment Inquiries: +82-2-3479-8894 (Finance Department)

Step.5

Shipping, Installation, Storage

Shipping

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.
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.

Shipping Fees

Domestic		International
Seoul	KRW 50,000	Additional fees apply
Seoul Capital Area (Incheon, Gyeoggi)	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 auction; 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, 10:00AM - 12:00PM or 2:00PM - 6:00PM
Pickup is not available without prior reservation.
Shipping Inquiries +82-2-3479-8888

Installation

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.

설치 유의사항 아이콘 Installation Details

For objects smaller than 145x112cm, a fee of KRW 30,000 per object (KRW 10,000 for each additional object) will be charged. Objects larger than 145x112cm will incur a fee of KRW 100,000 per object (KRW 20,000 for each additional object).
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.

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 objct per day regardless of whether the purchase price has been rendered in full.

개인정보 수집 및 이용 목적	서비스 이용 중 배송지 주소를 사용하는 응찰 신청, 응찰 등록, 계약서, 청구서, 확인서 발송, 도록 배송, 경매물품 배송 서비스 이용을 위한 사전 등록 목적
개인정보 수집 항목	주소
보유 및 이용 기간	회원탈퇴 시 까지 단, 법령에 의하여 보존할 필요성이 있는 경우에는 개인정보를 해당 기간 동안 보유합니다.