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Two Hermes handbags confiscated from death row tycoon Truong My Lan up for auction at nearly $156K

Samira Vishwas | May 11, 2026 9:24 AM CST

Two albino Hermes bags belonging to Truong My Lan, the property tycoon on death row for embezzlement, will be auctioned later this month at a starting price of VND4.1 billion (US$155,800).

The Ho Chi Minh City Asset Auction Service Center has announced an online auction on May 21 for the luxury bags owned by Van Thinh Phat Group chairwoman Truong My Lan.

One white handbag, size 30, has a starting price of VND2.34 billion, and the other, size 25 and featuring white hardware on the lock and trim, will start at VND1.77 billion.

Bidders need to place a deposit of 20% of the reserve price and may inspect the items beforehand.

One of Truong My Lan’s two Hermes bags. Photo by Ho Chi Minh City Asset Auction Service Center

Lan told the court in September 2024 that she bought one bag in Italy, while the other was a gift from a Malaysian billionaire.

“The value is insignificant compared to my total assets, but I ask for them to be returned as keepsakes for my descendants,” Lan said.

Similar bags have been used by western celebrities such as Kim Kardashian, Jennifer Lopez and Victoria Beckham.

In 2024, Lan and her accomplices were found guilty of embezzling Saigon Commercial Bank and causing it a loss of VND677 trillion (US$27 billion) over the course of a decade.

She received the death sentence, which was upheld by an appeals court last year. Following an investigation into Lan’s company, Van Thinh Phat, over 1,200 properties and many assets directly linked to her were seized.

The Reverie Saigon yacht has been put up for auction several times, but there has been no bidder, and it is now available for VND42.5 billion, down 18% from the original reserve price.