Thank you for contacting Mearto with your appraisal inquiry.

It is a very cute and well kept Steiff teddybear. Such vintage teddys are being offered at auction on a regular basis.
Steiff is a german soft toy maker and they have from day one been very popular due to their look a like teddys and high quality soft toys.
Your teddy bear was made somewhere in the 1950s-1960s. I believe that it may have made a roar / sound when pushed on the stomach or when turned upside down. It is called a brummbär. These were quite popular with children as they had the sound effect of a real bear. Or sort of.
It is important for the estimate that the sound is still functional, and that the bear is in good condition. Which it appears to be from the photos apart from minor marks on the paws of the feet. The mohair fur looks quite well and it is a good thing that the button in the ear and marks are still intact.

The estimate provided is for a well-advertised specialised online toys 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. 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