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$157,000 teddy bear collection headed for auction

The cuddly collection includes a 1904 stuffed animal considered to be the first commercially available teddy bear.

By Ben Hooper

NEWBURY, England, Dec. 1 (UPI) -- A teddy bear collector preparing to move from Britain to Hong Kong is putting his $157,000 collection of vintage Steiff bears up for auction.

Jena Pang, who named all of the bears in his collection, said the 32 vintage bears from German manufacturer Steiff will be auctioned Dec. 24 by Special Auction Services in Newbury, England, because they wouldn't do well with the humidity when he moves to Hong Kong.

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The auctioneer said the collection is expected to sell for up to $157,000.

The vintage collection, which Pang has been amassing since 2002, includes a 1904 bear considered to be the first teddy bear sold to the public. Similar bears have sold for more than $7,000 in previous auctions.

"They are more than just collector's items -- they come with me most places I go, whether it be to dinner, the theatre or away on travel," Pang told The Daily Mail. "I am selling them because I am planning on moving to Hong Kong, and the bears simply wouldn't survive the humidity."

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