Louis Vuitton-Kusama bag sells for S$87,000 at Singapore auction
A limited-edition Louis Vuitton and Yayoi Kusama handbag seized during Singapore’s S$3 billion money-laundering investigation sold for S$87,000 after a 30-minute contest, according to the South China Morning Post. The report said 42 bids were submitted in the final moments of the auction.
A limited-edition Louis Vuitton handbag linked to Japanese artist Yayoi Kusama has sold for S$87,000 at the first auction of assets seized in Singapore’s S$3 billion money-laundering case, the South China Morning Post reported. The yellow monogrammed leather bag, designed through a collaboration between Louis Vuitton and Kusama, was the subject of a 30-minute bidding contest on Sunday night, according to the report. The newspaper said 42 bids were placed in the final moments before the sale closed, pushing the price higher.
It described the bag as a rare pumpkin design from the limited-edition collaboration. The item had been seized by Singapore authorities as part of the money-laundering case. The supplied report identifies the wider investigation as involving S$3 billion, equivalent in the source to US$2.35 billion.
The South China Morning Post also described the auction as the first involving property seized in the case. However, the supplied material does not give the total value raised at the auction, identify the successful bidder or provide details of other items offered. The source refers to Kusama as having recently died at the age of 97, but gives no further information about the artist or the circumstances.
It also does not explain how the proceeds from the sale will be handled. The reported S$87,000 closing price applies to the Louis Vuitton-Kusama bag described in the material.
This independently written report is based on information supplied by the named publisher. Vertrix News has not independently verified the source report.