In recent days, images of a kynam block introduced as being worth over 250 billion VND have reappeared on social media, accompanied by information claiming it is a "Vietnamese agarwood and kynam national treasure" that once caused a sensation at an international auction.

Upon reviewing public records, the event in question is not a newly held auction but traces back to June 2021.

According to images and video clips posted regarding the Spring Auction of Datang Xishi, on June 19, 2021, a 2,670-gram kynam block received a bidding price of 72 million Chinese yuan. Several accounts within the agarwood business circle in China stated that the value after adding auction fees exceeded 80 million yuan.

Based on the exchange rate in 2021, the hammer price of 72 million yuan was equivalent to about 11.1 million USD, or over 250 billion VND. This is an exceptionally large figure for a piece of agarwood raw material weighing less than 3 kg.

However, a distinction must be made between the hammer price, the price after fees, and the final transaction value. In auction activities, the hammer price does not include commissions and various other fees. The fact that an item receives a bid does not automatically prove that the transaction has been completed without official results confirmation or payment vouchers from the organizing unit.

Insufficient basis to determine Vietnamese origin

Notably, available materials primarily describe the item as "kynam" and record its weight and price. There is no original catalog, appraisal certificate, or official announcement from the auction house confirming that this kynam block originated from Vietnam.

Therefore, calling this a "Vietnamese Agarwood-Kynam national treasure", asserting that the item formed in the forests of Central Vietnam, or treating the auction result as a "world record for Vietnamese agarwood" lacks sufficient basis.

Information regarding dimensions, such as a height of 42 cm and a diameter of 15 cm, also needs to be cross-referenced with the auction lot records before being used as official data.

Kynam is an exceptionally rare crystallized portion within the agarwood-producing tree, evaluated based on multiple factors such as oil content, structure, flexibility, fragrance, origin, and transmission history. However, identifying a specimen as kynam or high-grade agarwood cannot rely solely on color, weight, or images on social media.

High value demands even greater origin transparency

Vietnam has long been known as one of the important agarwood regions in Asia. Vietnamese agarwood and kynam, especially products once harvested in the Central region, hold a significant position in the history of trade and fragrance culture.

Nevertheless, the reputation of Vietnamese agarwood must be built upon origin profiles, appraisal results, raw material region traceability, and transparent market information, rather than unverified assertions.

The mentioned transaction shows that collectors can place a very high valuation on special kynam specimens. However, until an original catalog or official confirmation of origin appears, it can only be concluded that: a 2.67 kg kynam block was once bid at 72 million yuan at a 2021 auction; there is insufficient basis to determine that it is Vietnamese kynam.