Repeated auctions have reduced the reserve
Ho Chi Minh City's asset auction service announced the latest price for the property linked to Trương Mỹ Lan. Its first offering in January started at VND52.4 billion. The new level is over VND23 billion lower, a reduction of approximately 44%.
Previous attempts attracted no buyer, according to the report. It cited enforcement rules governing further reductions after unsuccessful auctions, including a limit of 10% relative to the preceding reserve. That explanation does not mean the seventh sale has already taken place or ownership has changed.
Deposit and next scheduled step
The announced deposit is more than VND5.84 billion, equivalent to 20% of the starting price. Built in France in 2018, the yacht is currently moored at Tam Sơn Swan Bay in Đồng Nai. It was seized in late 2023.
The vessel is among assets being handled in enforcement proceedings connected with the Vạn Thịnh Phát case. Passenger boats Thalia and Electra are also on their seventh auction attempt, with reserves around VND2.3 billion each. The next evidence will be the auction authority's result following the scheduled 28 October event. The accompanying image comes from yacht promotional material, rather than a completed transaction.