The fountain pen of the late Singapore Prime Minister Lee Kuan Yew reached 360,000 USD

The silver fountain pen of the late Singapore Prime Minister reached a price of 360,000 USD, 10 times higher than the original estimate.

The Montblanc Meisterstuck No. 146 pen is made of cast silver, engraved with the words "SM Lee Kuan Yew", bearing the mark of the period when Mr. Lee Kuan Yew held the position of senior minister from 1990 to 2004. This pen belongs to the later stage of his political career, after 31 years as prime minister.

The pen attracted 111 bids at the online session "Interiors & Collectibles - August, Fine Art Focus" organized by Hotlotz auction house on August 16. The final price was 360,000 USD (including commission), 10 times the expected price.

This is a piston-injected pen, the pen body has some gold-plated details, the nib is made of 18k gold and the cap has the brand's signature white snow cone symbol. Depending on version and condition, this pen model typically retails for between $500 and more than $2,500 at Montblanc stores.

This pen was auctioned in 2003, fetching 40,500 USD. At that time, Mr. Ly's daughter, Ms. Ly Vy Linh, organized a Sotheby's auction with 88 family items to raise charity funds for The Tent, a fund to help girls in difficulty.

That year's event earned 1.6 million USD. A black Waterman pen used by Mr. Ly to sign the 1957 Constitutional Agreement was sold to an anonymous businessman for 273,000 USD.

In addition to Mr. Lee Kuan Yew's fountain pen, Hotlotz's auction also witnessed many record-breaking works of art such as the 1976 painting Singapore Chinatown, Temple Street by artist Thai Danh Tri (Chua Mia Tee) sold for 84,000 USD after 58 bids, setting a new record for the late artist's paintings; A stoneware vase crafted by ceramic artist Iskandar Jalil fetched $9,600, more than double the ceiling price.

Lee Kuan Yew was Singapore's first prime minister, governing the country from 1959 to 1990. He continued to serve as senior minister until 2004 and minister advisor until 2011 before passing away in March 2015. He is praised as the man who transformed Singapore from a poor former British colony into one of the richest, most stable societies in the world.