Winning Bid Rate Reaches 77.27%, Total Sales Hit 23.3 Billion Won
First Time Since 2021 That Auction Proceeds Surpass 20 Billion Won
On the afternoon of November 24, 2025, at the Seoul Auction Gangnam Center in Sinsa-dong, Gangnam-gu, Seoul, Marc Chagall's "Bouquet de Fleurs" (1937) was sold for 9.4 billion won during the Evening Sale, setting a new record for the highest transaction price ever in the Korean art auction market. The auction's success rate that day was 77.27%, with total winning bids amounting to approximately 23.3 billion won. This marks the first time since August 2021 that the total winning bids at a single Seoul Auction event in Korea have exceeded 20 billion won.
"Bouquet de Fleurs" is a masterpiece depicting lovers embracing in midair, filling the canvas, and is characterized by the artist's signature blue tones. It attracted significant attention from art enthusiasts even before the auction began. The final bid of 9.4 billion won set a new record for the highest price ever achieved at a domestic auction.
At the auction, works by prominent domestic and international artists such as Kim Whanki, Lee Ufan, Andy Warhol, and David Hockney also found new owners. Chagall's large-scale work "Landscape of Paris," measuring size 100, was sold for 5.9 billion won, while Kim Whanki's "15-VI-69 #71 I" from his New York period was auctioned off for 700 million won.
Lee Ufan's "With the Wind," noted for its impressive sense of rhythm and brushstrokes that seem to extend beyond the canvas, was sold for 910 million won, reaffirming both artists' status as masters representing Korean art.
In addition, David Hockney's large computer drawing was sold for 480 million won, and Andy Warhol's "Dollar Sign" was auctioned for 715 million won to an overseas bidder.
Jung Taehee, auctioneer and head of the art auction team at Seoul Auction, commented, "The success of this inaugural Evening Sale, especially the high-priced sale of Chagall's masterpiece, proves that the Korean art market has sufficient fundamentals and discernment to serve as a major hub in the global art market." He added, "This will serve as a symbolic occasion to announce to the world that Seoul possesses the capacity to handle a 'high-end market' comparable to Hong Kong or Western markets, solidifying its status as the hub of the Asian art scene."
On November 25 at 4 p.m., Seoul Auction will hold a "Day Sale" at the Gangnam Center, featuring works curated for relatively young and trend-conscious collectors. The auction will offer 64 lots, with a combined low estimate totaling approximately 2.1 billion won.
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