Lee Kuan Yew’s Montblanc pen sells for US$360,000 in Singapore auction

A distinguished fountain pen once used by Singapore’s former prime minister Lee Kuan Yew has fetched a staggering S$461,500 (US$360,000) at a hotly contested auction in Singapore. The sterling silver Montblanc Meisterstuck No 146, inscribed with "SM Lee Kuan Yew," shattered expectations with its final bid, surpassing the S$52,000 it generated at a charity auction in 2003.

The London-based auction house Hotlotz confirmed the pen sold after 111 bids, culminating in a price nine times its highest estimate. The pen's presale valuation ranged from S$30,000 to S$50,000, with bidding commencing at S$20,000. The hammer price, which included the buyer's premium, reflected the pen's historical significance and Lee Kuan Yew's legacy in shaping modern Singapore.

Lee Kuan Yew, widely recognized as the father of contemporary Singapore, served as the nation's first prime minister from 1959 to 1990. He later held the roles of senior minister and minister mentor until his passing on March 23, 2015. The pen was originally part of a collection of 88 items, including a black Waterman's fountain pen used by Lee to sign the 1957 constitutional agreement with Britain, which sold for S$350,000 during the 2003 auction.

Other notable items from the Hotlotz auction exceeded their presale expectations. Chua Mia Tee's 1976 painting, Singapore Chinatown, Temple Street, experienced a surge in demand, selling for S$107,900 after 58 bids, surpassing its estimate. Additionally, a stoneware pottery vase by Singaporean ceramicist Iskandar Jalil fetched S$12,350, more than double its high valuation of S$4,000.