About Korean Art Auction

Now, we welcome the boom of Korean art market. Differently from the past, many people are concerned with buying art works or art itself.

We attribute the skyrocketing of interest mainly to art auction. In spite of side effect of an excessive heat in the market, we can't deny people started to pay attention to art by virtue of the auction. Given that some think of art just as an object of investment or speculation, this overheated phenomenon of the market is interesting no longer. However, at the same time we can't not but accept its right function: The audience focus on art at any rate. We have never had the time before which art was considered as one of big issue in our society. Every day painters are introduced in newspapers and broadcasting news. Some of them are regarded as great stars and their works change new records in price.

We just had only one-Seoul Auction- even before 2005 when K-Auction started its industry from. And this year we came to have more auctions such as D-auction, M-auction and so on. Of course, these auctions are competitive in that they are dealing with purchase and sale of art pieces in the limited market. But in fact, they boast symbiotic relationship one another. Even if specific auctions- Seoul and K-run starring roles, all of them are functioning as the leading part of Korean art market which is not rooted in the stable base.

We know about two international major auction - Christie's and Sotheby's. They are in competition. But we recognize that one can't survive without the other.
Widely speaking, they are cooperating each other.

Revised by James, 2008.1.6, 5:27pm