Former KB Toys founder Donald Kaufman's collection of over 7 million toys took in over $4million at an auction, reported Bloomberg.
Kaufman's clown car toy, which was made in 1909, was the biggest selling item. The toy brought in $103,500. I'm pretty sure I could find something better to blow a hundred grand on then a toy car.
“Everyone kept saying, ‘Boy, the recession isn’t going on in this room,’” said auction-house owner Jeanne Bertoia, 54, in a telephone interview. The auction set a record for the 20-year- old company on a single sale.
Kaufman, 78, sold his stake in KB Toys in 1981. He decided to part with his antiques two years ago, before the recession started. He said selling the toys he collected over the past 50 years -- mostly cast-iron vehicles dating back to the 19th century -- is part of a plan to divest his assets and invest the proceeds.
