The J&E Stevens “Breadwinners†bank, from the Kesselman collection, is “regarded by collectors as one of the greatest mechanical toy banks ever produced.†It sold for $94,000.

“It passed the litmus test,” stated Steven Weiss of RSL Auction in regard to the impressive results posted after the Richard C. Stevens mechanical and still bank collection sale concluded May 22. “Great quality toys trumped these incredibly difficult economic times,” said Weiss. “The high-end collectors stepped up and were willing to pay some incredible prices.” The Stevens auction, with “quality additions,” including 20 examples from the collection of New York investment broker Stanley Kesselman, grossed $1.8 million on 365 lots.

Numerous record prices paid at auction were established for the collection of mechanical and still banks, according to the auction house, with a major factor in the sale equating to condition. “Quality, quality, quality,” commented Weiss, who ranked the vast majority of the collection as “A” condition.

“Few categories of antique toys have been as consistently ‘bankable’ over the past few decades as banks themselves, especially cast iron mechanicals, and nothing brings out collectors faster than news of a great collection hitting the market,” stated mechanical bank specialist and RSL Auction co-owner Ray Haradin prior to the sale.

Rich with provenance, the Stevens collection carries on the tradition of many legendary collections of the past.

The “Calamity†bank, with original box and a rare chocolate brown base coloration, realized $76,375.

Stevens began collecting banks in 1984, but his most active period of buying was in the early 1990s. “Mr Stevens has always sought out the very finest examples, and his collection contains probably 30 banks that qualify as ‘world class,'” said Haradin. “These banks have exquisite pedigrees and rival or surpass the conditions seen in many major collections. The quality is simply spectacular †it tops anything we’ve ever had in our past sales.”

Ironically, the top lot of the sale came from the Kesselman collection as a J&E Stevens “Breadwinners” bank, estimated at $90/120,000, sold for $94,000. Weiss and Haradin cataloged the bank as being “regarded by collectors as one of the greatest mechanical toy banks ever produced.” Condition on the bank was listed as near mint and provenance included the collections of Al Caron, Bob Brady and then Larry Feld.

Another near mint bank that attracted a great deal of attention was the “Calamity” bank, which retained its original box. With a rare chocolate brown base coloration, the bank had been sold at auction in 2007 from the Steckbeck collection, where Stevens purchased the lot for a prerecession price in the range of $60,000. “Quality won out again,” stated Weiss, who openly admitted that prior to the auction he had fleeting thoughts about Stevens getting hit with a 20 percent loss. Condition and rarity drove the price, however, to a selling point of $76,375, pleasing both Weiss and the consignor.

The “Turtle†bank, dubbed by its producer, the Kilgore Manufacturing Company, “Pokey the Turtle.†Many collectors refer to it as “the Holy Grail of all mechanical banks,†one with a manufacturing flaw that caused production to cease almost immediately; only nine examples are known. Listing a provenance of the Stan Sax collection, the bank sold at $70,500.

Another bank with impressive provenance and condition was the “Turtle” bank that its producer, the Kilgore Manufacturing Company, dubbed “Pokey the Turtle.” According to the catalog, however, many collectors refer to it as “the Holy Grail of all mechanical banks,” one with a manufacturing flaw that caused production to cease almost immediately; only nine examples are known. Listing a provenance of the Stan Sax collection, the bank sold at $70,500.

Numerous banks in the sale established record prices paid at auction, including the “Initiating Bank †First Degree.” Termed the “finest known” example, the bank exceeded estimate as it sold for $58,750.

A “Chief Big Moon” bank in remarkable condition also brought a record price as it realized $39,950. With a red base rather than the usual brown, provenance included Bill Bertoia, Donal Markey and Stanley Kesselman.

“Initiating Bank †First Degree†established a record price paid at auction. Termed the “finest known†example, the bank exceeded estimates as it sold for $58,750.

Other record prices paid included a “Novelty” bank in excellent condition at $28,200, and a “Two Frogs” bank that brought $28,200.

A “Butting Ram” bank also established a record price paid at auction as it went out at $27,025. Haradin described the rare bank as “an anomaly in the mechanical bank world. It was made in a machine shop in Wisconsin and was the only bank they produced.”

A lead still bank brought the top price of the nonmechanical examples offered. “Puss N’ Boots with Staff,” a German Spelter bank, was cataloged as being in a condition “unsurpassed” with “vivid and bright paint.” Estimated at $6,5/8,500, the bank did well, selling at $12,337. Another lead bank sold was a “Paul Kruger Transvaal” that depicted the leader of the Boers in South Africa smoking a pipe and leaning on his rifle. Bidding on this lot was also brisk, with it selling at $5,287.

One of two known cast iron toys, “Ideal Bicycle Riders,†circa 1895, in excellent condition, brought $15,275.

“We have certainly never seen a better one,” stated the auctioneers in regard to the “Eagle” building bank that nearly tripled the presale estimate as it sold for $9,106.

Other items of interest included a “Women’s Rights” clockwork toy made by Ives that depicted a black woman (possibly Harriet Tubman or Sojourner Truth) at a podium. Termed the “finest known specimen of this rare toy,” it sold at $12,925. Another Ives clockwork toy, “The Boxers,” also exceeded estimates selling at $12,337.

One of two known cast iron toys, “Ideal Bicycle Riders,” circa 1895, in excellent condition sold at $15,275.

Prices include the buyer’s premium charged. For information, www.rslauctions.com or call Ray Haradin at 412-343-8733, Leon Weiss at 917-991-7352 or Steven Weiss at 212-729-0011.