Buying a vehicle at a Korean public auction

A public auction (공매, gongmae) is how the Korean state and public bodies sell property: vehicles seized over unpaid taxes, and vehicles and equipment that government offices and public companies no longer use — patrol cars, ambulances, buses, garbage trucks, fire engines, boats and even helicopters.

Most of these sales run on Onbid, the official online bidding system operated by the state-owned Korea Asset Management Corporation (KAMCO). Some public companies and bankruptcy trustees publish their own notices instead; we collect those under Agency notices.

Court auctions (경매) are a separate system run by the courts. YATA always labels which one a lot belongs to.

Under Onbid's terms of use, individual members need a real-name number: a Korean resident registration number, or an alien registration number for foreigners living in Korea. Foreign companies can apply for membership by submitting documents for approval.

Before bidding you also have to complete real-name verification and register a digital certificate on Onbid. The notices and the bidding screens are in Korean.

If you have no Korean registration number or certificate, the practical route is a Korean exporter or dealer who registers, bids and pays on your behalf, collects the vehicle and handles export paperwork and shipping. Agree in writing on your maximum bid and on every fee before the auction closes.

Vehicles leaving Korea have to be deregistered for export (수출말소). Your exporter takes care of that after the transfer.

1. 01Pick a lotFilter by type, province, price and closing date. Check the minimum bid, closing time, storage yard and any bidder restrictions.
2. 02Read the original noticeFollow the source link and read the whole notice — special conditions, handover terms and deadlines are there. Our English text is a machine translation; the Korean original prevails.
3. 03Bid on the official siteOn Onbid, submit the bid and pay the bid deposit set in the notice before the closing time (Korea Standard Time).
4. 04Opening and resultThe highest valid bid wins. Losing bidders get their deposit back.
5. 05Pay and collectPay the balance by the deadline in the notice, collect the vehicle from the storage location, and complete the transfer — then export.

• Special conditions — many notices sell the vehicle as is, and some limit how it can be used or who may buy it.
• Storage location and handover — whether you must collect it yourself and who pays for moving it.
• Deposit and balance deadline — miss the balance deadline and the deposit may be forfeited.
• Bidder restrictions — helicopters, aircraft and scrap-condition vehicles often have them.
• Viewing — whether you can inspect the vehicle depends on the notice; ask the selling agency.

Prices, dates and counts are copied from the source (Onbid and others). We never show estimated sale prices. Dollar figures are rough conversions at the published ECB reference rate, marked with ≈; bidding is always in Korean won.

Finished lots stay on the site with their final price, so you can see what similar vehicles actually sold for.