(1) The sales of goods under Article 208 shall be effected according to general competitive bidding, designated competitive bidding, negotiated contract, auction or outsourcing.
(2) Where goods are not sold through competitive bidding, such goods may be placed on such competitive bidding again after the lapse of at least five days, and the estimated sale price thereof may be lowered by up to 10/100 of the initial estimated sale price in each consecutive bidding. In such cases, if a bidder intends to buy the goods at a price higher than the estimated sale price to be lowered, such goods may be sold to him or her through a negotiated contract at that price. <Amended on Dec. 20, 2016>
(3) In any of the following subparagraphs, goods may be sold through an auction or a negotiated contract: <Amended on Dec. 20, 2016>
1. Where goods are not sold after they are placed on at least two consecutive competitive bidding in accordance with paragraph (2);
2. Where goods cannot be sold through competitive bidding, in consideration of the nature, form, purpose of use, etc. of such goods.
(4) Goods not sold under paragraph (3) and other goods prescribed by Presidential Decree, may be sold through outsourcing.
(5) The customs value of the goods sold under paragraphs (1) through (4) shall be computed based on the initial estimated sale price referred to in paragraph (2), notwithstanding Articles 30 through 35.
(6) Matters concerning the method of calculating the estimated sale price of goods and outsourcing such sales, shall be prescribed by Presidential Decree, and the National Tax Collection Act shall apply mutatis mutandis to auction procedures.
(7) Where the head of a customs office intends to sell goods in accordance with paragraph (1), he or she shall publish the types, quantity, estimated sale price, etc. of such goods 10 days before the sale takes place.[This Article Wholly Amended on Dec. 30, 2010]