Like every collectibles market, the world of antique dolls is subject to towering heights and devastating lows.
"It's almost like the wind, or almost like fashion," said Jay Lowe, the head of the doll department at Morphy Auctions in Denver, Pa. "What people want this year might be different than what people will want 10 years from now."
Such is the case of a William and Mary doll in Morphy's upcoming Toys, Dolls, Marbles, and Figural Cast Iron auction, which contains almost 1,300 lots estimated to sell in excess of $1 million. The doll, which is made out of wood and dates to the 17th century, sold in the 1980s for £50,000 at Sotheby's in London. Adjusted for inflation, that's today's equivalent of about £280,000, or $375,000. Read more...More about Auction, Auctions, Antiques, Toys, and Business