1. CONTENTS (1) RESEARCH OBJECTIVES The purpose of this study is to show the relationship between Real Estate Auction Market and Land Market with auction bid price and land values index. (2) RESEARCH METHOD This study was focused on time series analysis. The data for this analysis were collected from the impulse response analysis with causality test. (3) RESEARCH FINDINGS The study includes the data in 2005 to 2013 and also just before and after the 2008 global financial crisis (Chow Test). Especially this study used with the correlation between real estate auction market and land market. 2. RESULTS In the results of this study, the most important point is to find out the correlation between auction bid price and land values index with the data of land in SeoulㆍIncheonㆍGyeonggj region.