The diamond jewelry collection belonging to Truong My Lan, the chairwoman of Vạn Thịnh Phát Group, is set to be auctioned with a starting price of 25 billion VND. The Ho Chi Minh City Civil Judgment Enforcement Agency announced the auction on July 27, stating the need to contract a service unit to organize the sale of assets related to Truong My Lan.

The collection includes a necklace featuring 16 diamonds, valued at approximately 8.9 billion VND. The centerpiece of the necklace is a diamond measuring 12.67 mm, while the accompanying stones range from 3.5 to 7 mm. Additionally, there are two diamond earrings measuring 10.58 mm and 10.7 mm, valued at nearly 9.5 billion VND, and a diamond ring measuring 14.1 mm, worth over 6.6 billion VND. These values have been assessed by a company based in Ho Chi Minh City.

This auction is part of the enforcement process for several assets owned by Truong My Lan. In a court hearing scheduled for late September 2024, she requested the return of a diamond jewelry set weighing over 20 carats, which she wore at the time of her arrest, along with other items such as two white crocodile leather Hermes bags. She argued that the value of these items is negligible compared to her frozen assets, and she wishes to keep them as mementos for her descendants.

In May, two Hermes bags were successfully auctioned on their first attempt, with one fetching 11.6 billion VND, seven times its starting price. Other assets, including yachts, ships, and real estate linked to Truong My Lan, are also in the process of being sold. The Saigon Bank (SCB) is currently seeking an organization to appraise 1,120 collateral assets related to 1,243 of her loans before they are publicly auctioned. This appraisal is a crucial step in determining the starting price for the auction.