A unique Kammer & Reinhardt 108 bisque head character doll is valued at £60,000-80,000 ($100,000-130,000) ahead of a sale at Bonhams London on September 24.
The piece is thought to be made from an experimental mould. Although it bears a clear resemblance to models 103 and 109, the facial features differ significantly.
Kammer & Reinhardt were founded in Germany in 1886 and are known for their distinctive character dolls which are highly sought after among collectors.
The company ceased production in 1932, a year before the death of Ernst Kammer.
The doll previously achieved £188,500 ($312,820) in a sale at Sotheby's London in 1994.
Another Kammer & Reinhardt doll, number 106, carries an estimate of £40,000-60,000 ($67,000-100,000).
Arthur Lewin-Funcke, a well-known sculptor whose public works were mostly melted down for scrap during the second world war, designed the mould for the piece.
It was based on his nephew, Heinz Burkowitz.
Another doll by Lewis-Funcke modelled on his daughter is expected to make £40,000-60,000 ($67,000-100,000).
Earlier this year an Albert Marque doll set a new world record at auction when it sold for $300,000 at specialist auctioneer Theriault's in Florida.
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