“We knew the Punch figure was rare and would generate interest, but the final sale price exceeded our wildest dreams.”

That was the reaction of auctioneer Philip Weiss to the sale of a 19th Century, five-foot-tall figure of Punch credited to Samuel Robb on October 21 in Oceanside, New York. Estimated to bring in from $100,000 to perhaps $150,000, the hammer finally came down at a staggering $542,400!

Weiss reported that the identity of the actual winner of the item is unknown as a representative of the Kennedy Galleries in New York did the actual bidding. The bidding started at $50,000 and ran up in increments of $500, finally stalling at $400,000, but got going again with a bid for $405,000 and ran on to the final total.

The Scottish-born Robb was a well-known carver of tobacco-shop figures, with Punch and American Indians his most common subjects. The Punch figure sold was reported to be in very good condition, but had some chipped paint thanks to its age.

The figure came from the personal collection of Joseph Kedenberg, a musician known as “Keden on the Keys,” who died in 1983. His enormous collection of advertising memorabilia of all kinds had never been exposed to the public and the two-day sale included 1,600 lots and grossed more than $1.6 million.