Successful bid guide
- How to
- Successful bid guide
01 Successful bid
The bidder with the highest bidding amount than the reserved price will win the bid. The order of priority is as follows.
When the in-writing, over-the-phone, and public bidders bid the same amount, the order of priority will be in-writing > public bidders > over-the-phone
When a same amount has been bid within bidders the priority order will be, automatic bidding > one time bidder.
When the same amount has been bid, priority will be given to the first bidder according to the server time.
02 Confirmation for successful bid
For the offline auctions, you will have to sign the certification form for a successful bid immediately after the auction, and the certification for successful bidding will be sent to the address specified in the member information.
For online auctions, the certification for successful bidding will be sent to you by e-mail.
You can see the successful bid history and the results on the website - My page - Successful bid history.
The successful bidder cannot cancel the bidding after it has been placed, but for unavoidable reasons and with the agreement of the trustee, it can be cancelled with a 30% penalty fee applied within 10 days.
However, there may be some restrictions in after biddings. For more information please refer to the I AUCTION terms and conditions.
03 Guide for successful bid payments
Successful bid amount
The highest amount bid at the last moment of the auction.
Successful bid commissions
The commissions for successful bid will be followed by the following policy. However, there may be some additional commissions according to the internal policy.
15% of the successful bid amount will be imposed as a commission. (Value Added Tax excluded)
Successful bid payment
= The total payments with successful bid amount + successful bid commissions + Value Added Tax altogether.
04 Payments guide
The successful bidder must pay the total payments including the successful bid amount, commissions, and value added tax within 7 days (within 20 days if the successful bid amount is more than 300 million) from the day of the successful bid.
The payment methods of the successful bids are as follows. [Inquiries about payments 02-733-6430-2]
Deposit to account
Woori Bank 1005-801-283002 I AUCTION corp. We can confirm the deposit if you contact us after deposit of payment
If you wish to make your payments with cash, check, or with a card that cannot be used on online, visit the I AUCTION headquarters.
But, for card payments, it can only be used for successful bid commission payments. The manager will guide you through this information if you make your inquires before visiting.
05 Delivery guide
You can receive your successful bid artwork after paying all the payments. The delivery methods are as follows.
The delivery status of the won products can be checked on the website - My page - Payments history.
Receive in person
This is a method when the purchaser visits our company and receives the artwork directly in person. The artwork will be prepared to go if you make an appointment before visiting our company.
This method is to receive the artwork through a delivery service. This is for the purchaser that has difficulties visiting the company, or when the distance is too far to deliver directly from the company.
This method is a direct delivery from the company. However, this is available only if the address is within an area to which the company can dispatch.