Steiff teddy bears to go under hammer - 30/07/2010

A private collection of soft toys created by Steiff are to be sold as part of an art fair in Kensington this October.

The Christie's auction house has announced that 1,300 of the items will go under the hammer in its west London salesroom and will be a chance for collectors from around the world to get their hands on the famous teddy bears.

On offer on the day will be individual lots of 1950s Steiff Dogs ranging in price from £300-500, as well as a unique Steiff Harlequin Teddy Bear with red and blue mohair, estimated at £50,000-80,000.

The event will offer fans of the 130-year-old toymaker "the unique opportunity to purchase fine Steiff toys from the largest and best quality collection still to remain in private hands in the world", a statement from Christie's read.

Founded by Margarete Steiff in 1880, the German company originally produced small elephant models used as pin cushions until the entrepreneur discovered that children loved to play with them.