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This came from the 2014 Treasure of Doom event during Halloween:
Scepter of Pride - UOGuide, the Ultima Online Encyclopedia
It was 50 turn-in points, which was just as much as the Boots of Escaping that turned out to be the best item from that event.
Probably worth more as a collector's item at this point as opposed to actually using it. I haven't seen any come up for sale in a while - you can probably try in the 100m + range.