Herald artday kicks off second online auction

Over 100 works by South Korean artists from up-and-coming to veterans on auction


Herald artday, a subsidiary of the Herald Media group, opens its second online auction on Friday.

It will roll out 105 artworks by acclaimed South Korean artists ranging from up-and-coming figures such as Mari Kim, Lee Woo-lim and Heo Yang-gu to, veteran artists such as Lee U-fan, Kim Tschang-yeul, Suh Seok and Kim Chong-hak. Smaller artworks will also be available, selected especially for the Christmas season.

Notable works include “With Wind” by Lee U-fan, who has spent some time in the spotlight, more so since his monumental solo show at the Solomon R. Guggenheim Museum in New York this summer. Also, Kim Chong-hak’s “Flower Party” and Kang Ik-joong’s “Full Moon Jar,” the piece that stirred up the moon jar craze in the art industry, stand out among the works up for auction. 

The auction is affordable too, with prices ranging from 300,000 won to 70 million won. Starting prices will be as much as 70 percent below the market price. Organizers said that it will be a great opportunity for first-time buyers as well as art aficionados to take home genuine artwork at an attractive price.

“The merit of an online auction is that one has a wide range of works to choose from ― from popular works to relatively reasonably priced ones,” said So Don-young, an official at artday.

At the company’s first auction held in October, 84 percent of the items were sold, setting a record for an online art auction. Total sales were over 427 million won, also exceptional for an online auction.

Among the works, a 1976 piece by Lee U-fan titled “From Line,” which was showcased to the public for the first time through the auction, was sold for 180 million won, which is the highest amount ever paid at an online auction.

Herald artday is considered to have set a new example for high-quality online auctions, since it introduced major works by established artists while most online auctions offer limited items by little-known or up-and-coming artists, or only small works by a few established ones.

Those interested can see the works at the preview exhibition which runs through Dec. 21 at beyond museum in Cheongdam-dong, southern Seoul, before making their bids. A lecture on art investment will be offered on Friday along with English-language tours. The auction will start to close at 5 p.m. on Dec. 21, with 10 pieces sold every 10 minutes.

For more information on the auction, call (02) 3210-2255 or visit www.artday.co.kr.

By Park Min-young  (claire@heraldcorp.com)