Editor’s Note
This article details the official launch of Seoul Auction’s “The Concierge,” a new service offering professional care for luxury items.
Art auction house Seoul Auction announced on the 22nd that, after approximately two months of test operations, it has officially launched its comprehensive luxury item care service, “The Concierge.”
“The Concierge” is a customized customer service that provides professional and comprehensive support for luxury items owned by clients, such as watches, handbags, and jewelry. Collectors can receive one-stop support for various services including appraisal, valuation, and consignment of their collections at a dedicated booth set up on the first floor of Seoul Auction’s Gangnam Center in Sinsa-dong, Gangnam-gu, Seoul.
Seoul Auction noted the trend of expanding consumption patterns among its customer base, which enjoys high-end items including artworks. In response, “The Concierge” is expected not only to enhance the satisfaction of existing customers who desire convenient and fast luxury collection care services but also to contribute to expanding the overall art market size.
In fact, according to the UK-based art specialist media Art Newspaper, while global art auction house sales declined in 2023, the performance of luxury item sales saw significant growth. The media reported that luxury items are acting as a catalyst for expanding transactions for auction houses, noting that at Christie’s, for example, 38% of customers who purchased or bid on handbags also participated in purchasing or bidding on other items.
However, unlike overseas markets, the trading of luxury items by auction houses is not yet commonplace in the domestic Korean art market. In response, Seoul Auction has partnered with the second-hand brand platform “Gugus” to receive appraisal and valuation services for certain items like bags and jewelry. Through this partnership, the two companies plan to operate a compensation liability service for appraisal results to enhance reliability and professionalism.
Meanwhile, “The Concierge” booth set up on the first floor of Seoul Auction’s Gangnam Center operates from 10 AM to 6 PM on weekdays. However, during auction preview periods, services are also available on weekends according to the preview schedule.