A century-old peach tree in Vinh City, Nghe An, is attracting significant attention for its striking beauty and steep price. With an asking price of 300 million VND (approximately $12,600) for purchase or 150 million VND ($6,300) for rental, this tree exemplifies the opulence of Tet decorations.

A rare masterpiece on display

Displayed along the bustling flower street of V. Le Nin Boulevard, the peach tree is adorned with miniature landscapes and ornamental features, drawing passersby to admire its artistry.

Pham Van Minh, the tree's owner, shared, “This peach tree is over 100 years old, about three meters tall. Two days ago, someone offered 120 million VND ($5,000) to rent it, but I declined.”

The tree’s value is determined by several factors, including its age, rough and sturdy trunk, large base, and carefully crafted shape.

Minh operates two additional sale points on 72m Street, showcasing hundreds of impressive peach trees.

A challenging Tet market

Despite the grandeur of these displays, this year’s Tet market in Vinh City has been subdued, with vendors reporting reduced sales. Many stalls along V. Le Nin Boulevard and 72m Street have sold or rented fewer than 50% of their trees compared to last year.

Ngoc Thang, another prominent garden owner in Vinh, explained that adverse weather in northern provinces has driven up the cost of ornamental plants, including peach trees. However, prices remain consistent with previous years to attract buyers during tough economic times.

“Economic challenges have reduced people’s purchasing power significantly this year,” Thang said.

Peach trees are typically imported later than other Tet plants, such as kumquats or apricot blossoms, to ensure they bloom at the right time. Early shipments risk blooming too soon, diminishing their value.

Although some companies and businesses have already purchased or rented trees for Tet, vendors predict that demand will increase after the 20th day of the lunar December.

Viet Hoa