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Two luxury Hermès Birkin handbags confiscated from jailed Vietnamese businesswoman Truong My Lan have sold for more than $535,000 at a government auction in Vietnam, drawing international attention to the growing value of rare luxury fashion items.
The handbags were auctioned at the Ho Chi Minh City Asset Auction Service Center and reportedly found buyers within just 30 minutes of bidding. One white Hermès Birkin bag sold for an astonishing $440,144 while the second bag fetched $94,858.
The sale comes as Vietnamese authorities continue efforts to recover billions of dollars linked to one of the country’s biggest financial scandals. Truong My Lan is currently serving a life sentence after being convicted of embezzlement and financial fraud involving Saigon Commercial Bank, one of Vietnam’s largest lenders.
The businesswoman was originally sentenced to death in April 2024 after a court found that she had secretly controlled the bank for years and used a network of shell companies to withdraw loans and cash amounting to nearly $44 billion. Authorities later commuted the sentence to life imprisonment after Vietnam abolished the death penalty for several crimes in 2025. She has also been ordered to repay approximately $27 billion in damages.
During the trial, Truong My Lan had appealed to keep the two handbags, describing them as sentimental possessions she hoped to leave behind for her children and grandchildren. According to court statements, one of the bags had been purchased in Italy while the other had been gifted to her by a Malaysian businessman.
Vietnamese authorities later seized the bags among more than 1,200 assets connected to the case. Earlier this year, the Ho Chi Minh City Civil Judgment Enforcement Agency sought experts to determine the value of the crocodile skin handbags before placing them up for auction.
Reports from local media indicated that the less expensive handbag was a size 30 Birkin while the more valuable size 25 version featured rhinestone embellishments on the clasp and trim. The latter sold for almost seven times its starting bid, showing the intense demand for rare Birkin designs.
Luxury fashion experts say the rising value of Hermès Birkin bags is tied to their exclusivity and limited availability. Nicholas Parnell, founder of Agency Parnell, described the bags as highly sought after collector’s items and “pieces of art.” He explained that Hermès has carefully maintained demand by restricting access to buyers and releasing only limited quantities of certain designs.
The Birkin bag has become one of the most recognizable symbols of wealth and luxury around the world, with many collectors now viewing rare editions as investments rather than fashion accessories. Prices for some special editions have continued to rise dramatically over the years.
Auction house has regularly listed Birkin bags for tens of thousands of dollars. In July 2025, Sotheby’s Paris sold the original Birkin bag for €8.6 million, making it the most expensive handbag ever sold at auction at the time.
The latest auction involving Truong My Lan’s handbags highlights not only the scale of Vietnam’s anti corruption crackdown but also the extraordinary global market surrounding luxury fashion collectibles.
