Gyeonggi Province to Auction 620 Seized Items Including Rolex Watches at KINTEX on the 27th

Gyeonggi Province will publicly auction 620 items seized from high-value local tax delinquents at the Grand Ballroom of KINTEX in Ilsan, Goyang City on the 27th.

The items for sale include 28 luxury watches, 171 designer bags, 265 pieces of precious metal jewelry such as pure gold bracelets, as well as artworks, golf clubs, whisky, and more, totaling 620 items.

Key items include a Hublot watch with a minimum bid price of 13.5 million won, a Rolex watch for 6.5 million won, a Chanel bag for 4.5 million won, and a pure gold bracelet valued at 9.12 million won.

Earlier, from January to June, Gyeonggi Province, in cooperation with cities and counties, carried out home searches targeting high-value local tax delinquents and seized the items that will be auctioned at this public sale.

This year’s first public auction will be held on the 27th from 9 a.m. to 12 p.m., and only those present at the venue can participate using their smartphones. The item will be awarded to the bidder who offers the highest price above each item’s minimum bid (appraisal value). Successful bidders can pay the auction amount and collect their items on-site the same day.

Items Seized by Gyeonggi Province from Delinquent Taxpayers

Details on the auction and bidding process will be released on the Gyeonggi Province website (gg.go.kr) after August 18, and a full list of the items is available on the Korea Auction & Appraisal Company website (kapao.co.kr).

Gyeonggi Province has also put in place measures to protect buyers. If a purchased auction item is found to be counterfeit, the payment will be refunded and the appraised value will be additionally compensated.

Noh Seungho, Director of the Tax Justice Department at Gyeonggi Province, said, "Most of the goods up for auction in this sale were secured from searches of the homes of chronic delinquents with poor tax compliance. Gyeonggi Province will continue its efforts to foster a culture of faithful tax payment."

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