A Dinky toy lorry achieved a world record price when it was sold by Teesside Auction house Vectis for £12,000 including commission.

The maroon eight wheeled Foden chain lorry made in the early 1950's would have originally cost 19/6d - nineteen shillings and sixpence or just under a pound."

It was the second highest price ever achieved for a Dinky toy. A Bentall's van achieved £12,650 a few years ago. But the lorry broke two records; it was the highest priced post-war Dinky ever sold and the highest priced Dinky lorry to come on the market.

There was fierce bidding in the saleroom which was crammed with over 150 people with telephone bids also being received from countries around the world including Greece, the USA and France.

In the end the toy was knocked down to a Dinky toy collector from the North West of England who wished to remain anonymous.

Garry Hunt from Vectis said: " Dinky only made this lorry for six months and probably stopped because it wasn't selling."

He added: " It is an unusual colour and probably wasn't that attractive to children who went into their local toyshop. They probably bought Dinky's that were more colourful. The lorry was in exactly the same condition as when it was made so it was both rare and mint and that's what collectors are looking for."

Bryan Goodall the Chairman of Vectis auction group the largest toy auctioneers in the world said: " On the day of the budget it just goes to show that people are investing in toys for the future."

He added: "In the last year Dinky toys have become real investors items with prices rising by between 10% and 15% for good and boxed examples, with no sign of a slow down.

" With huge uncertainty over stocks, shares, and other investments, people are putting their money into other things and one of them is toys," said Bryan

He added: " Dinky toys are high on the investment list as their value has grown consistently over recent years. In fact prices continue to grow. Like everything else prices can go down as well as up but that is less likely in this case because these toys are no longer made and interest in them continues."

The Dinky sale realised £184,000 and the following day saw £136,000 for Vectis sale of tinplate dolls and teddy bears.

Highlights of the day included two Carette cars from 1905 and 1910 which mase £11,750.00 and £11,300 respectively.