The 12-inch doll, code-named "Devil Eyes," was one of three dolls created by the CIA in 2005 to scare children and their parents from supporting bin Laden or al-Qaida.
The auctioned doll came with a removable head depicting bin Laden as a demon with a red and black face and green eyes. The winning bid was $11,879, more than four times the asking price of $2,500. It is unclear who won the auction.
The doll was created by Donald Levine, a former Hasbro executive best known for creating the first G.I. Joe. Levine died in May. The auction house, Nate D. Sanders in Los Angeles, said the doll was part of Levine's estate with a certificate of authenticity from his son Neil Levine.
The auction description said the doll is wearing "traditional Islamic garb, a white removable five button robe over a four button white tunic with a mock collar, with off-white cloth pants and a pair of black mock velcro boots." It is attached to a silver and white metal display stand. The auction house said only three such dolls exist. The other two remain at the Pentagon or CIA headquarters, the auction stated.
The Washington Post cites anonymous sources familiar with the project as saying the original design called for the figure's face to be painted with heat-dissolving materials, which would peel to reveal a red and black devilish face.
In June, the CIA said it scrapped plans to distribute the dolls after the three prototypes were reviewed.
"To our knowledge, there were only three individual action figures ever created, and these were merely to show what a final product might look like," CIA spokesman Ryan Trapani told the Washington Post.
"After being presented with these examples, the CIA declined to pursue this idea and did not produce or distribute any of these action figures. Furthermore, CIA has no knowledge of these action figures being produced or distributed by others."