SINGAPORE, Sept. 21 -- A rare Louis Vuitton x Yayoi Kusama pumpkin bag seized in Singapore's S$3 billion (RM9.6 billionaire) money laundering probe has emerged as the star of the first luxury-goods auction, closing at an astonishing S$87,000 after a frenzied 30-minute bidding war.

The limited-edition yellow monogram leather piece - part of a collaboration with the celebrated Japanese artist, who died earlier this year at 97 - drew 42 last-minute bids, sending its final price soaring far beyond Hotlotz's initial estimate of S$12,000 to S$16,000.

It was the most sought-after item in the first tranche of 337 seized handbags and accessories, all of which were sold on Sunday night, bringing in more than S$1.1 million.

Other items also smash...