Gyeonggi Province Auctions 604 Seized Items from High-Value Tax Delinquents Including Chanel and Cartier Products Online

[Suwon Ilbo=Park No-hun Reporter] Gyeonggi Province will publicly auction 604 luxury bags, watches, precious metals and other items seized from high-value local tax delinquents for tax collection purposes through online channels from the 23rd to the 29th.

To prevent the spread of COVID-19, the province will conduct the auction through a non-face-to-face online electronic auction website (ggtax.laors.co.kr), and any citizen except the delinquent taxpayers can participate.

The items for sale include 87 luxury bags such as Chanel and Louis Vuitton, 45 luxury watches such as Cartier and Rolex, 268 pieces of precious metals, 78 items including golf clubs and liquor, 35 pieces of general artwork, and 90 vehicles, totaling 604 items.

Major auction items include a Cartier watch appraised at 7 million won, a Chanel bag appraised at 2.5 million won, and precious metals appraised at 6.24 million won.

The bidding method is individual bidding by item, and the item is awarded to the person who bids the highest price during the bidding period.

Successful bidders must remit payment to the designated account by 6 p.m. on October 5 and can collect the items via courier or in person according to instructions from the responsible staff.

Auction items can be viewed through the online electronic auction website, and the winning bidders will be announced at 10 a.m. on October 1 after a 7-day bidding period from the 23rd to 29th.

For more details on how to participate, please refer to the Gyeonggi Province website (gg.go.kr).

The province has also established a protection system for successful bidders: if auction items are found to be counterfeit, the full payment will be refunded and the appraisal company will compensate 100% of the appraised value.

Kim Min-kyung, Director of Tax Justice at Gyeonggi Province, stated, "Most of the items in this online electronic auction are personal properties seized from chronic delinquent taxpayers with weak tax awareness," adding, "We will continue to make efforts to foster a culture of faithful tax payment and ensure fair taxation by developing new collection methods."

Meanwhile, Gyeonggi Province sold 410 seized items through the country's first non-face-to-face online electronic auction in October last year and collected a total of 460 million won in delinquent taxes.