Two shilling toy lorry from 1961 is now worth £5,520! Rare Matchbox 1916 Osram Lamps replica sells for thousands after a bidding war

A rare Matchbox toy lorry has sold for a staggering £5,520 after a bidding war at auction.

The grey truck is a replica of a 1916 Osram Lamps vehicle. 

The toy was produced by Matchbox in 1961 and sold then for two shillings and three pence – around 11p in today's money.

It is so sought after because it has plastic wheels which were only used on a few examples at the end of the production run. 

If it had the more common metal wheels – it would only be worth about £20.

The 2¾in toy fetched seven times its £800 pre-sale estimate at Vectis Auctions in Stockton, County Durham. 

Toy expert Julian Royse said this is the right time to sell if you have a rare toy car and also noted that future generations will likely 'be more interested in Marvel action figures'.    

The toy was consigned for sale by a Matchbox collector who bought it in 2012. 

It carries the logo of a London-based electric lightbulb company still operating today and went for one of the highest prices achieved for this type of Matchbox model.

The truck toy was produced by Matchbox in 1961 and sold then for two shillings and three pence – around 11p in today's money

The 2¾in toy fetched seven times its £800 pre-sale estimate at Vectis Auctions in Stockton, County Durham

Mr Royse said this was due to a combination of the toy's 'excellent condition' and rarity.

He said: 'This type of Osram Lamps lorry was made from 1956 to 1961 but this example was so valuable because of its black plastic wheels.

'They were only used for a few models right at the end of the production run in 1961 so when one comes on to the market it excites collectors.

'I haven't seen one come up for sale in six years and it is safe to say this is one of the highest prices achieved for the Models of Yesteryear range.

'If the toy had metal wheels, it would have been worth £20.

'The vendor is a Matchbox collector and he and we are both delighted with the result.

'If you own a rare, high value model, this is the right time to sell as the market is so strong and the prices are astronomical.

'In the future younger collectors will be more interested in Marvel action figures than Matchbox.'

The auctioneers also sold a Matchbox Regular Wheels quarry truck for £4,320, a Ford Consair for £4,560 and a Vauxhall Cresta for £3,360.

Matchbox toys were introduced by British manufacturing company Lesney Products in 1953, soon becoming a phenomenon.

The brand was purchased by Mattel in 1997.