Paul Greenwood’s collection of Steiff teddy bears fetches $1.7 million

Hedge fund manager Paul Greenwood had to surrender his entire assets to the government after he was imprisoned for embezzling $900 million of investors’ fund. Among the assets that the former Hedge fund manager surrendered was a collection of teddy bears. Yes, the man apparently had a fascination for these soft toys. His collection of German-made Steiff teddy bears recently went under the hammer at Christie’s auction. This sale of the teddy bears was the largest sale of the stuffed animals ever held and was deemed a historical landmark in the collecting world of teddy bears and soft toys. Of the 585 lots from this extensive Steiff collection, the star was a half-red, half-blue “Harlequin” bear, dating from the 1920s, which sold for a cool £46,850 ($74,164). A 1953 black teddy also managed to fetch a cool £30,000 ($47,490).

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At the end of the 9 ½-hour auction, the total sales registered in this teddy bear sale were a cool $1.7 million.