SSANCAR › FAQ › Buying Korean Used Cars at Auction: Glovis, Autohub, Lotte and SK
How to buy from Korean used-car auctions through SSANCAR
How Korea's dealer-only auctions work, what auction grades mean, how to bid remotely through SSANCAR, and how auction prices compare with dealer lots.
Key facts
- Korea's main auctions: Hyundai Glovis, Autohub (Kolon Auto Auction), Lotte Auto Auction and SK Rent-a-Car Auto Auction — about 5,000 cars a week.
- Auctions run Monday-Friday from 13:00 Korea time; ssancar.com shows live lots with KRW, USD and EUR prices.
- Bids move in KRW 50,000 steps; the winner pays the second-highest bid plus one step.
- Auction grades: letter = structural history (A best), number = overall condition (9 best, 1 worst).
Can a foreign dealer bid at Korean used-car auctions?
Not directly — Korean auctions (Hyundai Glovis, Autohub, Lotte, SK Rent-a-Car) are open only to licensed Korean dealers. SSANCAR bids on your behalf: you set a maximum bid in KRW on ssancar.com or by WhatsApp, SSANCAR bids live, and if the car is won it is bought in SSANCAR's name and exported to you. About 5,000 cars pass through these auctions every week.
What do Korean auction grades like A/7 or C/5 mean?
The letter describes structural history and the number describes overall condition on a 1-9 scale. At Hyundai Glovis and K Car, 'A' means no structural panel replacement, 'B' or 'C' indicates welded or replaced structural parts, and the number runs from 9 (near new) to 1 (poor). Autohub (Kolon), Lotte and SK use two letters (for example A/A). Panel codes on the sheet are XX (replaced), W (welded), X (needs replacement) and P (paint). A letter 'A' does not mean 'no accidents' — bolt-on parts may still have been replaced.
How does bidding work at a Korean car auction?
Korean auctions are fast ascending-price auctions: each lot sells in about 10-20 seconds, bids rise in KRW 50,000 steps, and the winner pays the second-highest bid plus one step (so you rarely pay your full maximum). Most lots have a reserve. Results are known immediately and SSANCAR confirms your win by WhatsApp within an hour.
Are Korean auction cars cheaper than dealer cars?
Yes, typically 5-10% cheaper than the same car on a dealer lot, because auction cars come straight from lease, rental and fleet companies or trade-ins without a retail margin. The trade-off is that you buy from the grade sheet and SSANCAR's photos; SSANCAR's inspectors can preview lots on site before the sale for an extra fee if requested the day before.
What fees does SSANCAR charge for buying a car at auction?
The auction house charges a buyer's fee of about KRW 200,000-300,000 per car and SSANCAR adds its standard export commission, which is included in the final invoice. Payment follows the standard schedule, but auction cars must be paid for within 3 working days of the sale, so SSANCAR asks for the 50% second payment immediately after a win.
What is SSANCAR's Secret Auction?
The Secret Auction is a members-only section of ssancar.com that shows lots from Korea's dealer-to-dealer online auctions (such as HeyDealer's closed auction) that are not visible on public sites. Access requires member level 4 or above, which SSANCAR grants to dealers who have completed several purchases and to Silver-tier Success Partners.
Can I see past Korean auction results and hammer prices?
Yes. Registered buyers who have bought at least one car through SSANCAR (member level 3) can view Past Auction Results on ssancar.com, including hammer prices, grades and photos for Hyundai Glovis and Autohub sales. Auction data is kept for 3 months. This is the quickest way to benchmark what a Tucson or Sorento of a given year actually sells for in Korea.
Which auction day and house is best for SUVs?
Hyundai Glovis (Mondays to Fridays, typically 1,000-1,500 lots per sale day) has the largest supply of 3-6-year-old Hyundai and Kia SUVs because it handles Hyundai Capital lease returns. SK Rent-a-Car's auction (about 700 lots) is strongest in 2-4-year-old ex-rental Sonata, K5, Grandeur and Carnival. Lotte and Autohub carry more imported brands.