Costly cuddles... teddy bears set to sell for over £1m

The private collection of 1,300 Steiff toys presents a "unique" opportunity for museums and collectors from around the world, according to Christie's.

Announcing the sale at its South Kensington saleroom in London later this year, the auction house said it was the "largest and best- quality collection" to remain in private hands.

Set up in Germany in the late 19th century, Steiff is famous for its hand-finished bears, elephants, rabbits and other animals featuring a "button in ear" to show authenticity.

Teddy bear specialist Daniel Agnew, working as a consultant for the Christie's Steiff sale, said: "It's pretty much unique. It really is a once-in-a-lifetime collection."

Mr Agnew described Steiff as the "Rolls-Royce of the soft toy world" and said the estimate for the collection was 800,000 to 1.2m.

He expected it to be split up, with international museums and

collectors keen to snap up items.

No details have been released about the mystery collector who owned the toys. The sale will be held at 10am on October 13.