'Chanel, Louis Vuitton, Rolex'... 770 Items Seized from Gyeonggi-do Tax Delinquents to be Auctioned

Gyeonggi Province will publicly auction the seized property of high-value tax delinquents on September 13.

Gyeonggi Province will publicly auction over 770 luxury items, including watches and bags, seized through home searches of high-value local tax delinquents on September 13.

The public auction will be held at Ilsan KINTEX in Goyang City, where items can be viewed and bids placed from 9 a.m. to 1 p.m. Successful bidders will receive their items immediately upon payment on the same day.

The items for sale include ▲181 luxury bags such as Chanel and Louis Vuitton ▲48 luxury watches including Rolex ▲449 pieces of precious jewelry such as diamond rings ▲and a total of over 770 items including artworks, ceramics, and golf clubs.

Key auction items include a diamond ring with a minimum bid price of 5 million KRW, a Chanel bag at 1.7 million KRW, and a Rolex watch at 1.45 million KRW.

Notably, a high-end bicycle priced in the 2 million KRW range, artworks by mid-career artists, violins, and rare books (Buddhist scriptures) are also attracting attention in the auction.

Bids will be awarded to the highest bidder who offers at least the minimum bid price (appraised value) for each item. However, bidding is limited to on-site participants and can be easily done via smartphones or laptops provided at the venue. Detailed information will be available on the Gyeonggi Province website after September 4.

Additionally, a protection system for successful bidders is in place: if an auctioned item is confirmed to be counterfeit, the paid amount will be refunded and compensation equivalent to the appraised value (minimum bid price) will be provided.

Ryu Young-yong, Director of the Tax Justice Division of Gyeonggi Province, stated, "Most of the items in this seized movable property auction were secured through home searches of chronic tax delinquents with weak tax payment awareness. Gyeonggi Province will continue to take the lead in establishing a culture of sincere tax payment and realizing fair taxation."

This content was produced with the assistance of AI translation services.