Seoul Auction "Diversifying Auction Items from Art and Real Estate to Luxury Goods"

Seoul Auction has succeeded in maximizing the cumulative total auction winning bids through real estate pre-sale right auctions up to the third quarter this year and is continuously diversifying its auction item portfolio.

Seoul Auction announced on the 13th that its new luxury support service, ‘The Concierge,’ is progressing smoothly and has successfully linked it with offline auctions.

Since launching The Concierge service in July this year, Seoul Auction has been conducting luxury auctions starting from the offline auction in October. The company explained that operating The Concierge not only allows securing potential customers in the art auction sector but also enables performance growth through diversification of the auction item portfolio.

The Concierge is a customer-tailored service that provides professional and comprehensive support and management for luxury products such as watches, jewelry, and handbags. Seoul Auction maximized customer satisfaction by comprehensively supporting various services including appraisal, depreciation, consignment, and auction listing of owned luxury items.

While diversifying auction items, Seoul Auction is also strengthening the existing art auction value chain. Recently, it has resumed Zero Base auctions in collaboration with organizations such as the Jeonnam Cultural Foundation and Gyeonggi Cultural Foundation to secure emerging artists and artworks. Zero Base is an online auction conducted by receiving artworks on consignment from artists through cooperation with local governments for the purpose of promoting regional artists’ works.

A Seoul Auction official said, “Since the consumption tendencies of customers with high interest in high-end assets and products such as artworks are expanding into various fields, we are expanding the auction category to luxury items. We confirmed high customer interest in new categories through regular offline auctions and plan to continuously conduct luxury auctions in future regular auctions.”

He added, “While expanding the value chain related to our main auction asset, artworks, through Zero Base and other initiatives, we will continue to diversify the auction asset portfolio and strengthen our position as the number one domestic art auction company.”

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