Fund manager to sell prized teddy bear collection

  • October 06, 2010 18:40

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Steiff Harlequin Teddy Bear, circa 1925, at Christie's Oct.13 sale in London may fetch six-figures.
Christie's
Rare Steiff teddy bears from a collection assembled by hedge fund manager Paul Greenwood, who is charged with fraud, will be heading to the auction block next week, according to new reports.
Greenwood, a former partner of brokerage WG Trading Co, has been charged with conspiring to defraud his clients of $554 million, reports Bloomberg, and will be sentenced in December.
The Oct. 13 Christie's sale titled Steiff: an Important Private Collection of 1,300 stuffed toys is said to be Greenwood's. It will include some rare pieces from the German toy manufacturer, mostly bears made pre-WWII, valued at about $1.9 million, writes the New York Times blog.
One teddy bear with a hot-water bottle may fetch as much as £30,000 ($47,602) . A "possibly unique" circa 1925 Harlequin teddy bear is estimated at £50,000 - £80,000 ($78,950 - $126,320).



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