76 Artworks and Luxury Items to Be Auctioned, Valued Up to 700 Million Won
Online Auction Scheduled for March 11
Seoul Auction announced on February 27 that it will hold a "National Tax Service Special Auction" online at 2:00 p.m. on March 11. A total of 76 items, including artworks and luxury goods seized by the National Tax Service, will be up for auction.
The combined low estimate for the auctioned items is approximately 300 million won, while the combined high estimate is about 700 million won. Seoul Auction has been designated by the National Tax Service as a "specialist art sales agency" based on its expertise and track record, and will be entrusted with managing the sales process for this special auction.
The fine art section will feature works by both Korean and international modern and contemporary artists, including "Flower Garden" (1989) by Yayoi Kusama, "Regression" by Changyeol Kim, and "Karma" by Choi Youngwook. Original works and editions by artists such as Julian Opie and David Hockney will also be presented.
Chang-Yeol Kim, Regression, 2012. Oil and acrylic on hemp cloth, 60.5 x 72.8 cm. Photo by Seoul Auction
The luxury section includes items such as the Herm?s Kelly 35, the Shadow Birkin 35, as well as high-end watches, jewelry, and rare spirits. Wine sets, including Ch?teau Mouton Rothschild and Ch?teau Talbot, are also listed among the lots.
This auction will be conducted in accordance with the National Tax Collection Act, whereby artworks and other items seized by the head of a tax office or a regional tax office are sold through a specialist sales agency. Drawing on its experience handling asset sales for public institutions such as the Korea Deposit Insurance Corporation, Seoul Auction will carry out the auction via its transparent online system.
From March 5, the auction items can be viewed online on the Seoul Auction website, and a preview exhibition will be held at the Seoul Auction Gangnam Center from March 6 to 10. The auction itself will take place on March 11 at 2:00 p.m. on the Seoul Auction website.
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