Italian pen manufacturer Montegrappa has unveiled what is reputed to be the world's most expensive pen.

The "Peace Pen" is fashioned from platinum and comes with Baccarat crystal panels and an array of fine diamonds totalling more than 1,200.

Priced at a staggering AED4.7 million (£679 000), the pen is to be displayed at exhibitions in Burj Al Arab and at Emirates Towers this week.

Mr Ramesh Prabhakar, Rivoli Group managing partner, said the pen had been fashioned using techniques derived from years working in the industry.

"Montegrappa collections are realized using sophisticated jewellery techniques such as deep drawing, low relief engraving, hand-etching, die-casting, vitreous enameling, hot enameling on materials such as gold, silver, precious stones and celluloid," he explained.

"Thanks to the passion of its professional craftsmen a Montegrappa pen is transformed into a fine writing jewel, a unique and rare piece, an emotional object that has the capacity to distinguish its owner."

International artist David Monalto di Frangito designed the Peace Pen, which has a central motif of a dove, the symbol for peace.