Just before the Lunar New Year of the Year of the Horse (from early February 2024), the orchid market suddenly became bustling again as many plants were advertised on social media for hundreds of millions of dong. Along with that are the attractive advertisements “keep the orchid to win big” and images of large bags of money, information about upcoming “huge” transactions similar to 2020 – the golden time of orchid mutation with billion-dollar transfers.
Some accounts advertise mutant orchids at exorbitant prices. For example, a mutant orchid with 5 white petals from Kinh Bac is being offered for 350 million dongs, and a mutant orchid with 5 white lightning stripes from Pleiku is priced at nearly 130 million dongs…
A Facebook account named V.L.H.T. is selling a mutant orchid with 5 white petals from Kinh Bac, measuring 13cm, for over 555 million dongs and only sells it in one day. (Screenshot)
Account HT. also posted a short video featuring hundreds of people, both men and women, young and old, standing in line, with each person holding an orchid bouquet, all shouting loudly and expressing extreme joy.
The video has attracted nearly 55,000 views and hundreds of comments. Quite a few people are dreaming of getting rich with mutant orchids.
In the first half of 2022, the mutant orchid business was exposed to be faking virtual transactions at “outrageous” prices to create virtual fever, pushing orchid prices to skyrocket, causing many people to lose their money in pursuit of mutant orchids. The market quickly collapsed, and only scattered normal transactions for those who enjoy orchids with values of only 100,000 – 200,000 dongs remained.
Many people are selling mutant orchids for several hundred million dongs. (Screenshot)
Therefore, recent information about mutant orchid transactions at “outrageous” prices has surprised and raised suspicions among the public.
Be careful of traps
Through actual surveys, various types of mutant orchids are still being sold in many groups for only a few hundred thousand dongs. For example, on the Facebook forum Vietnamese Mutant Forest Orchid Exchange with over 50,000 members, many gardeners in Dak Lak, Hoa Binh… sell mutant orchids with 5 white snowflake petals for only 250,000 dong/bouquet.
“The high prices of mutant orchids and the return of the fever is just false information on the internet. In reality, the market almost has no transactions. Because buyers now are only willing to spend a few hundred thousand dongs to satisfy their passion for mutant orchids. The most beautiful mutant orchids like the 5 white snowflake petals are not worth millions of dong.” , said Thuận Nguyễn, a long-time mutant orchid player in Phu Tho.
Another mutant orchid farmer in Hoa Binh also confirmed: ” At the present time, it is difficult even for a million dong to be traded for a mutant orchid, not to mention several tens of million dongs. Selling orchids for several hundred million dongs now is nothing short of delusions “.
In response to VTC News, Mr. Vương Xuân Nguyên, Head of the Office of the Hanoi Ornamental Creature Association, warned: ” Customers need to be alert and observant. If someone says “Handing over a Phu Tho mutant orchid pot for 500 million dongs” now, if it is true, it is likely that this orchid pot has been traded since the time when mutant orchids were still expensive, and now people are exchanging it. This transaction certainly did not start at the current time.”
A group of people are appearing happy when talking about mutant orchids. (Screenshot)
Mr. Nguyên also added, if a continuous and unbelievable high-value mutant orchid transaction keeps appearing, consumers need to be cautious, to avoid being caught up in a new wave of inflated mutant orchid prices.
According to Mr. Nguyên, after a period of freezing, the mutant orchid market has undergone certain screening. Currently, large nurseries and long-time plant collectors have started to exchange and interact again based on some localities recognizing orchids as a unique type of plant, integrating orchids into building ocop products.
“Consumers need to look at the essence of the market, avoid the “virtual” transactions aiming to inflate prices, and avoid being influenced by misleading thoughts” , advised Mr. Vương Xuân Nguyên.
