I'm guessing this musical Teddy is from the mid 40s to early 50s. It's German and appears to be handmade by a private label - Florence Gentemann. It is dressed in a clown suit and plays..."Send in the Clowns" music. It's fully jointed and clown costume can be taken off. See photos. It's in good condition, except for a few scratches on the leather paws, only a few and some minor repairs to the costume. Can anyone estimate the value? I can provide more photos if needed.
Thanks!