Thank you for contacting Mearto with your appraisal inquiry.

It is an adorable teddy bear. Such vintage Steiff teddy bears are being offered at auction on a regular basis.
The teddy bear has had a very good life with many cuddles, been told secrets etc. From the photos it appears to be very worn on the mohair fur that has been rubbed off more or less all over the teddy bears body. The face also seems to have vanished from the bear with missing stitches on the nose. It has all the classical features of the well known Steiff teddys with the long limbs, the pointed snout and perhaps also the remains of a hump on the back.
Unfortunately the condition of the teddy bear is very poor and this would reflect on a selling price if it came up for auction. This is why the estimate is so low - it may surprise at auction however I do believe that the condition is too poor.
The teddy bear is from Steiffs early period that is 1920-1930s.

The estimate provided is for a well-advertised specialised online soft toys and teddy bears auction, where I believe the teddy has the best chance of realising its fullest potential. However, there is no measurement for the sentimental value you might attach to the Steiff teddy bear. Retail "asking prices" can be higher and vary.

Please let me know if you have any additional questions. I’m happy to help.
Thank you