The antique toy collection assembled over the course of 40 years by the late Malcom Forbes and his sons went for a total $2.4 million at Sotheby's in New York on Dec. 17.

Fetching $194,500, to set a record for a toy boat at auction, was a 37.5-inch-long replica of the Lusitania, the Cunard ocean liner torpedoed by a German U-boat in 1915. The pre-sale estimate was $100,000-200,000.

Malcolm Forbes had purchased it in 1983 for $28,600.