[Edaily Reporter Kwon Oh Seok ] Seoul Auction Co. Ltd..(063170)recorded a total auction revenue of 643억 won in online and offline auctions during the first half of this year, continuing its performance growth driven primarily by high-end premium artworks.

Seoul Auction Co. Ltd. announced on the 2nd that its total auction sales for the first half of this year, including its recent regular offline auction held in June, exceeded 643억 won. This represents an increase of more than 200% compared to the same period last year and accounts for 95% of last year’s total annual auction sales.
The first-half offline auctions concluded successfully, driven primarily by high-end premium works, which led to an expansion in the overall scale of sales. While the number of lots sold in the first half increased by approximately 75% compared to the same period last year, the total hammer price rose by more than 230%, highlighting a notable improvement in performance centered on high-value works. The average hammer price per lot also jumped significantly from 63.32 million won in the first half of last year to 119.53 million won.
Seoul Auction Co. Ltd. held a large-scale preview and an in-person auction in Hong Kong last March to coincide with Art Basel Hong Kong. The auction featured works by world-renowned artists such as Yoshitomo Nara, Yayoi Kusama, and Roy Lichtenstein, and the company reported that it broke domestic price records and achieved a total hammer price of 36.8 billion won.
Online auction performance is also showing strong momentum. As of the end of June, the total hammer price for online auctions exceeded 3.6 billion won, surpassing 70% of last year’s annual online total (5 billion won) in just half a year. The company explained that its strategy of proactively offering works with high global recognition has aligned with the recent rebound in the art auction market, leading to this growth in performance.
A Seoul Auction Co. Ltd. official stated, “Even during New York’s spring auction week—a barometer of the global art market—the combined total hammer price of the three major auction houses more than doubled compared to the previous year, indicating that the art auction market has entered a full-fledged recovery phase.” The official added, “Seoul Auction Co. Ltd. successfully grew its auction performance in the first half of the year by conducting both online and offline auctions, leveraging its expertise in sourcing premium works, and we will continue to lead the domestic art auction market going forward.”