Seoul Auction will hold a special National Tax Service auction on Saturday, November 14, as part of its 2026 AUCTION SHOW, publicly selling assets seized from taxpayers with large unpaid tax bills.
The auction will feature 99 lots in all, including watches, bags and jewelry from major luxury brands such as Rolex, Hermès and Chanel, as well as whisky, gold bars and high-end bicycles.
The combined starting prices of all lots total approximately 344.7 million won. The sale is intended to collect overdue taxes and help recover funds for the national treasury by auctioning assets seized by the National Tax Service.
The lots are divided between online and in-person auctions: the online sale features a range of everyday and collectible items, while the in-person sale focuses on major luxury brands such as Rolex and Hermès.
From a Rolex Day-Date to an Hermès Birkin Bag
The Rolex Day-Date has the highest starting price among the featured lots in the special auction.
The automatic watch has a bright blue dial and displays both the day and date. Its starting price is 35 million won, with an estimated value of 35 million to 85 million won.
The Rolex Day-Date is known for displaying the day of the week in full. Its dial also differs from that of the Datejust offered in the same auction.
The Datejust combines yellow gold and silver tones and features diamond hour markers. Its starting price is 5 million won.
Two of Hermès’s signature handbags, the Birkin 25 and Kelly 25, will also be offered.
The Birkin 25, made in 2025, combines deep navy leather with palladium hardware. It has two handles and a strap-style closure running across the bag. Its starting price is 14 million won.
The Kelly 25 is made of black leather with palladium hardware. Its single top handle and flap closure distinguish it from the Birkin.
It comes with a shoulder strap, clochette, padlock and keys, and has a starting price of 12 million won.
Both are small handbags in size 25, but they differ markedly in structure and design.
The Birkin has two handles and a strap closure, while the Kelly has a single handle and a flap, offering a way to compare how designs from the same brand developed into distinct forms.
Key auction lots from Chanel, Cartier and Van Cleef & Arpels
Chanel will offer a range of signature pieces, including Classic Flap bags, Coco Crush rings and J12 watches.
The black leather Large Classic Double Flap bag features diamond-pattern quilting, a gold-tone chain and a CC clasp. Its starting bid is 3 million won.
A white Mini Flap bag will also be offered.
Combining light-colored leather, black piping and gold-tone hardware, it differs from the Large Classic Double Flap bag not only in size but also in its overall proportions and color scheme.
The jewelry lots include two Chanel Small Coco Crush rings.
Part of a collection that applies Chanel’s quilted pattern to the surface of the rings, the diamond-set pieces in 18K white gold and beige gold will each have a starting bid of 8 million won.
Cartier will offer a Small Panthère watch, which pairs a rectangular case with a metal bracelet, and a Ballon Bleu watch, distinguished by its round case and the structure surrounding its crown.
Each watch has a starting bid of 3 million won, while bidding for a classic Love bracelet made with diamonds and 18K yellow gold starts at 4 million won.
Van Cleef & Arpels Vintage Alhambra earrings feature a four-leaf clover motif and a deep green centerpiece. The starting bid is 2 million won.
The live auction also includes watches with distinct designs, including the Bulgari Octo Finissimo, Omega Seamaster Aqua Terra and Chanel J12.
From whisky with a starting bid of 0 won to gold bars and bicycles
Another feature of this special auction is that it will sell a variety of seized assets alongside luxury goods and jewelry.
The online auction will offer alcoholic beverages including Japanese whiskies Yamazaki and Hibiki, as well as Ballantine’s 30 Year Old. Some lots have a starting bid of 0 won.
Notable lots include three bottles of Yamazaki whisky and two bottles of Ballantine’s 30-year-old whisky, each with bidding starting at 0 won.
Precious metals and a high-end bicycle are also included in the online auction.
A lot of six 24K gold bars weighing 224.8g in total has a starting price of 20 million won. Bidding for a 2024 Brompton T Line Explore Mid, a folding bicycle with a titanium frame, starts at 4.5 million won.
Decorative gold keys made of 24K yellow gold, weighing 18.74g and 37.5g respectively, will also be offered at the in-person auction.
March auction records total winning bids 6.1 times the combined starting prices
Seoul Auction, designated by the National Tax Service as a specialist agency for selling artworks and other items, supports public sales of seized assets.
The National Tax Service and Seoul Auction have collaborated since July 2025, adjusting how items are offered and how auctions are organized to suit the characteristics of each item.
At the National Tax Service special auction held on March 11, 2026, all 76 lots offered were sold.
The combined starting prices of the lots were about 197 million won, but the final total of winning bids reached about 1.2 billion won, roughly 6.1 times the combined starting prices.
Online and in-person auctions to be held November 14
This National Tax Service special auction will be held in two parts on November 14: an online auction at 2 p.m. and an in-person auction at 4 p.m. A total of 81 lots will be offered online, while bidding on the 18 in-person lots, which include major luxury items, will be available only at the auction room on basement level 5 of Seoul Auction’s Gangnam Center.
Online bidding through the website is not available for in-person-only lots. To bid on them, participants must visit the Gangnam Center and complete the on-site bidder registration process.
The auction preview will be held from November 10 to 14 on basement level 1 of Seoul Auction’s Gangnam Center. Viewing hours are 10 a.m. to 7 p.m.
Prospective bidders may find it helpful to inspect the condition of the items and what is included with them at the preview, and to consult the official auction guide for bidder registration, payment and collection terms.
This special auction is notable for bringing together a diverse range of seized assets—from luxury watches, handbags and jewelry to precious metals, liquor and collectibles—in a single auction program.
With major luxury items reserved for the in-person auction, attention is likely to focus on how bidding and the results compare with the March auction.
Official Materials
