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Gone for $461,500: Lee Kuan Yew's Montblanc pen draws 111 bids at auction

Gone for $461,500: Lee Kuan Yew's Montblanc pen draws 111 bids at auction
The sterling silver Meisterstuck No. 146, with gold-tone highlights and an 18K gold nib was originally auctioned by Sotheby's in 2003. 
PHOTO: Hotlotz

A fountain pen once owned by Singapore's founding prime minister Lee Kuan Yew has sold for a staggering $461,500 after attracting 111 bids from around the world.

The silver Montblanc Meisterstuck No. 146 was sold by Singapore auction house Hotlotz on Sunday (Aug 16). 

According to Hotlotz's press statement that day, the final price was nearly 10 times the auction house's initial estimate of between $30,000 and $50,000.

The pen was listed as Lot 51 in Hotlotz's Interiors & Collectibles — August, Fine Art Focus auction, which featured works and collectibles from Singaporean artists and notable figures.

The sterling silver fountain pen has yellow-toned metal highlights, an 18K gold nib and is engraved with "SM Lee Kuan Yew" on its cap.

It measures 14.5cm long and is marked "925" for sterling silver.

It was part of Sotheby's The Lee Kuan Yew Family Collection charity auction in July 2003, where it was originally sold for $52,000.

The current owner had kept the pen since purchasing it at that auction in 2003, Hotlotz said.

The pen dates to a later period of Lee Kuan Yew's political career, when he served as senior minister from 1990 to 2004, following his 31-year tenure as prime minister.

The 2003 Sotheby's auction also featured another historically significant writing instrument: A black Waterman fountain pen used by the former prime minister to sign the 1957 Singapore Constitutional Agreement in London.

That pen sold for $350,000 to an anonymous businessman, with proceeds from the auction contributing to charity. The 1957 agreement laid the groundwork for Singapore's self-government.

Not the only record-breaker

Several other lots in Hotlotz's August auction also attracted strong interest.

A painting by Singaporean pioneer artist Chua Mia Tee, Singapore Chinatown, Temple Street (1976), sold for $107,900 after receiving 58 bids.

The work, by the master of Singapore's social realism movement, had carried a pre-sale estimate of just $20,000 to $30,000.

Its $107,900 sale price also set a new auction high for the work.

Meanwhile, a stoneware vase by veteran potter and Cultural Medallion recipient Iskandar Jalil sold for $12,350 after receiving 25 bids.

The master potter was recently granted the title of Distinguished Service Order during Singapore's National Day Awards on Aug 9.

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