Price reductions in Truong My Lan's luxury yacht collection following auction attempts

Since the assets were seized, the luxury yacht collection owned by Madam Truong My Lan has gone through multiple valuation rounds and three public price reductions. While the prices have fallen substantially from the initial figures, the collection has not yet found a new owner to support the enforcement process.

Seizure and enforcement background

All assets, including the The Reverie Saigon yacht and the two speedboats Thalia and Electra, were seized by the Criminal Investigation Police Department of the Ministry of Public Security on November 7, 2023. The seizure is part of efforts to recover assets to satisfy criminal judgments issued by the Ho Chi Minh City People’s Court and the High Court in Ho Chi Minh City between 2024 and 2025.

Timeline of price reductions

The first price reduction occurred on January 20, 2026, after initial auctions based on appraisal certificates from November 2025 failed to attract a buyer.

Second reduction (March 2, 2026)

On March 2, 2026, THADS in Ho Chi Minh City issued decision No. 407 to reduce prices for the second time. Under this adjustment, the starting prices of all three vessels were cut by 5% compared with the preceding auction.

• The Reverie Saigon (2018) was reduced from more than 49.2 billion VND to about 46.8 billion VND (a decrease of about 2.4 billion VND).
• Thalia (2017, Poland) and Electra (2017, Poland) saw their starting prices lowered from over 4.85 billion VND to about 4.6 billion VND each.

Third reduction (April 9, 2026)

Despite the March adjustments, the assets still did not find new owners, leading to a third price reduction on April 9, 2026. This time, the enforcement agency applied a larger 9% reduction from the starting price of the previous auction.

• The Reverie Saigon, currently moored at Tam Son Marina, Swan Bay, in Dong Nai Province, was priced at just over 42.5 billion VND.
• Thalia and Electra, stored at Vinhomes Central Park, had new starting prices of just over 4.1 billion VND each, down from 4.61 billion VND in the second reduction.

Legal basis and enforcement pressure

THADS Ho Chi Minh City said the continuous price reductions reflect the pressure to liquidate assets to recover funds for enforcement obligations. The agency also stated that the reductions are implemented under Article 104 of the Civil Judgment Enforcement Law, aiming to ensure a transparent legal process in asset disposition.