Editor’s Note
Ho Chi Minh City’s diamond resale market faces a standstill as stores close and transactions stall, leaving sellers like Ms. Hoa stranded despite prior buyback promises.
Residents of Ho Chi Minh City are attempting to resell their diamonds, but many stores are closed, transactions have stalled, and people are waiting.
Ms. Nguyen Phuong Hoa (a resident of Binh Thanh Ward, Ho Chi Minh City) brought a 6.8-carat diamond ring, valued at nearly 300 million VND, to the Hoang Thu jewelry store on Le Thanh Ton Street to resell it. However, the store was closed. Ms. Hoa called the staff, but no one came out to assist her.
Ms. Vu Ngoc Vy (a resident of Nhieu Loc Ward, Ho Chi Minh City) also shared that she bought a 6.3 mm diamond ring worth over 250 million VND at the PJA store on Vo Van Tan Street. However, when she went to resell the ring, the store was closed.
According to a representative of PJA jewelry, the diamond jewelry market has recently experienced a crisis with unpredictable consequences. This has affected customer confidence. PJA has recorded a sudden increase in the number of customers reselling their diamonds.
According to the store, customers wishing to exchange products should contact their customer service hotline. The company will handle responses and resolve the issue before August 30, 2026.
According to reporters from VTC News, the demand for diamonds in Ho Chi Minh City remains very high. As a result, many companies in the sector are experiencing liquidity problems, forcing them to close.
On July 19, numerous jewelry stores in Ho Chi Minh City continued to announce temporary closures. For example, Cashion Diamond, located in Vincom Cong Hoa, Tan Son Nhat Ward, announced a temporary suspension of operations to carry out a comprehensive restructuring. The closure will last two months.
Cao Hung Diamond jewelry store, located on Tran Phu Street, Cho Quan Ward, announced the suspension of its currency exchange services for two weeks.
Que Jewelry, located on Le Thanh Ton Street, officially closed its doors on July 19. Additionally, on the morning of the same day, Que Jewelry announced the temporary suspension of its business activities from July 19 to August 3, 2026, in order to reorganize its operations and better prepare for the next period.
The diamond market in Ho Chi Minh City began to suffer a crisis in late May 2026, when several social media influencers shared their disappointing experiences buying diamonds of unclear origin and quality. Immediately, there was a wave of people reselling their diamonds to the market.
