In 30 minutes! Jailed tycoon’s two Birkin bags sold for over $535,000 in Vietnam

The Birkin has a fanbase of its own. In the world of handbags, the Birkin holds a supremacy that no other bag comes close to replacing. The recent craze was on display in Vietnam, where a jailed tycoon's Birkin bag was sold in just 30 minutes for over $535,000.

Two luxury bags of Vietnamese businesswoman Truong My Lan were put on auction, and they quickly found their new owners.

Jailed Vietnamese tycoon's Birkin bags sold! Check price

Birkin is not something that is an easy buy by simply walking into a Hermes store. One has to book the appointment and wait to make this high-end purchase. But these auctions are an easy way to buy one.

As per the BBC, the bags were among 1200 seized assets that were sold at the Vietnamese property tycoon Truong My Lan Service Centre on Monday.

The white Hermes Birkin bag was sold at $440,144, with another one being sold at $94,858.

Now serving a life sentence for embezzling from a Saigon Commercial Bank, the country's fifth biggest lender. She has been ordered to pay back $27 billion.

Both the bags, one of size 30 and the other of size 25, were quickly sold. The expensive one was of a smaller size, but it came with embellishment with rhinestones on the clasp and trim. The final auction price became almost 7 times higher than the initial bidding price.

According to reports, there were two bags that Truong wanted to be returned to her family. During her trial, she told the court she had bought one in Italy, and the other was a gift from a Malaysian businessman.

Truong, who was a property developer, was convicted in 2024 and was initially sentenced to death in one of Vietnam's biggest corruption cases. However, now she faces life in prison after capital punishment was abolished for some crimes.