The auction was part of the China Guardian Hong Kong 2026 Autumn Auctions, taking place from October 3-8 at the Hong Kong Convention and Exhibition Centre. This is one of the large-scale art auctions in Hong Kong this autumn. (HKCEC)

The prominent artifact belongs to the agarwood and kynam group in the thematic section "Guanhua – Scholar's Rocks, Elegant Artworks and Classical Furniture". According to introductory documents prior to the auction, the kynam piece is identified as having Vietnamese origin, being of the "sinh kết" (naturally formed) type, approximately 37 cm high, and weighing up to 2,500 grams. (TheValue.com)

This is an exceptionally large size for a natural kynam piece brought to the collecting market. Before the auction, China Guardian Hong Kong specifically featured this artifact with a title emphasizing a "sinh kết kynam" block weighing about 5 Chinese catties, while also mentioning its history of being passed down through long-standing agarwood collections. (FindGlocal)

The kynam block retains almost its original natural shape, with the wood portions and oil accumulation areas forming a structure resembling a miniature rockery landscape. Its natural shape, large size, and solid raw material are precisely the factors that drew attention within the collecting community.

According to the auction results, the artifact was hammered down at 15,477,000 HKD, equivalent to approximately 1.98 million USD, or over 50 billion VND at current exchange rates.

If taking the weight of about 2.5 kg as a pure reference basis, the transaction value amounts to over 6.1 million HKD/kg, demonstrating that the value of kynam in the collecting market is not established purely by mass. Origin, oil quality, aroma, natural morphology, block size, and collection history can all significantly influence the bidding price.

Notably, in the introductory materials for the 2026 auction season, China Guardian Hong Kong stated that the "Guanhua" section brings together over 130 artifacts, including scholar's rocks, bronzes, classical furniture, and rare agarwood items. The 2.5 kg Vietnamese kynam block was selected as one of the featured artifacts to be showcased prior to the auction. (TheValue.com)

Previously, kynam and agarwood of Vietnamese origin have also appeared multiple times at art auctions in China and Hong Kong. China Guardian's catalogs have featured numerous Vietnamese kynam blocks weighing from several hundred grams to over 1 kg with valuations reaching millions of HKD. For instance, a Vietnamese kynam block of about 1,260 grams was once offered with an estimate of 10-20 million HKD. (Cguardian)

The appearance of a 2.5 kg Vietnamese kynam block at an international auction achieving a transaction value of nearly 2 million USD continues to demonstrate the enduring appeal of rare aromatic materials originating from Vietnam in the collecting market.

However, the bidding price of a special artifact does not equate to the general price level of kynam in the market. The value of each individual piece depends heavily on its origin, grade, condition, provenance history, and especially the appraisal results of each auction house.