Nov 2012, a Italian Felt Miniature Boy with Hobby Horse by Lenci, Series XX 800/1300 fetched $16,000 at auction
Notice the bent knees which are different from the straight legs of the less rare Lenci Mascottes.

Item Description:
8″ (20 cm.) Felt swivel head with pressed and painted facial features, large round downcast blue eyes, painted long curly lashes, high arched brows, accented nostrils, closed “O”-shaped mouth, blonde mohair short curly wig, jointing at shoulders and hips. Condition: generally excellent, light surface dust. Marks: Lenci (blue-edged cloth tag). Comments: Lenci, the model first appeared in a 21″ size in the mid-1920s named “Carluccio”, and was later released, circa 1931, in this miniature size. Value Points: rare and delightful child wearing his original, felt costume including felt apron with pocket embroidered “Tom”, and with his original paper cap and wooden hobby horse. –
Link to auction listing at proxibid