According to the notice, individuals and organizations may register to purchase auction documents, submit applications and place deposits from May 6 to May 18 in order to participate in the online bidding process.

The auction will be organized by the Ho Chi Minh City Auction Service Center at 19/5 Hoang Viet Street, Tan Son Nhat Ward, Ho Chi Minh City.

Participants may view auction assets, ownership documents and related materials online through the electronic auction platform at https://trungtamdaugiatphcm.daugiavna.vn.

In addition, interested bidders may inspect the items directly at the auction center during office hours from May 13 to May 15.

Participants are required to create accounts on the online auction platform in order to receive instructions for purchasing auction documents and registering for the bidding process.

The first item is a pre-owned white Hermès handbag, size 30, without gemstones or additional decorative materials. It carries a starting price of more than VND2.3 billion (US$88,500), with a required deposit of more than VND468.7 million (US$18,000), equivalent to 20% of the starting price.

The second item is a pre-owned white Hermès handbag, size 25, featuring white gemstones on the lock and trim. Its starting price exceeds VND1.7 billion (US$65,400), while the deposit requirement is more than VND354.3 million (US$13,600), equal to 20% of the starting price.

The fee for purchasing auction documents is VND200,000 (US$8) per item.

The registration period and deadline for deposit payments run from 7:30am on May 6 until 5pm on May 18.

The auction for the white Hermès size 30 handbag will take place from 10am to 10:30am on May 21, while bidding for the white Hermès size 25 handbag is scheduled from 11am to 11:30am the same day.

Bids will increase in increments of VND50 million (US$1,900).

Authorities are also preparing to auction three luxury cars belonging to Truong My Lan.

Following the successful appraisal of the two rare Hermès bags, valued at more than VND4 billion (US$154,000) combined, the Ho Chi Minh City Civil Judgment Enforcement Department has continued procedures to select an auction organization for the vehicles.

According to the appraisal certificate, the two white Hermès handbags, size 25 and size 30, together were valued at nearly VND4 billion (US$154,000).

In the fifth compensation payment round for victims in the Truong My Lan case, the Ho Chi Minh City Civil Judgment Enforcement Department said it had disbursed more than VND205 billion (US$7.9 million) to 42,451 bondholders.

Thanh Phuong