A Steiff teddy bear produced to commemorate the sinking of the Titanic sold for ?�16,000 ($27,180) at Special Auction Services in Newbury, UK on June 12.

The lot was valued at ?�10,000, equating to an increase of 60%.

Steiff made the bear to commemorate the sinking of the Titanic

The auction house commented prior to the sale: "This tragedy greatly affected Great Britain - over 1,500 people were killed across all of society; there were very few people in the country who did not know of someone on this ship.

"In Edwardian Britain mourning was taken very seriously; people wore black armbands and shop windows were draped in black."

Steiff produced the bear in a limited run of 600 the month after the April 1912 tragedy. An epidemic of tuberculosis during the first world war meant many were destroyed to prevent the disease spreading - making those that survived exceptionally rare.

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