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An exceptionally rare Star Wars action figure of Boba Fett has shattered records, selling for a staggering $525,000 at an auction, making it the most valuable toy in the world. The hand-painted, missile-firing figurine is one of only two known to still exist, originally created in the 1970s but never released to the public due to safety concerns, Sky News reported.

This elusive Boba Fett figure, sold by Heritage Auctions, comfortably surpassed the previous record held by a unique Barbie doll adorned with a one-carat diamond, which sold for $302,000 in 2010. The auction also broke the previous record for the most expensive Star Wars action figure, a rocket-firing Boba Fett that fetched $236,000 in 2022.

The figure was crafted by Kenner in 1979 in anticipation of Boba Fett's appearance in "The Empire Strikes Back." The toy was initially intended to be a promotional giveaway to customers who purchased other Star Wars action figures. However, it was withdrawn before hitting the shelves due to concerns that its rocket-firing mechanism posed a choking hazard, similar to issues faced by Mattel's Battlestar Galactica toys at the time. As a result, the toy was modified to have the rocket glued in place and a note explaining the change for safety reasons was included.

Most of the prototypes were destroyed, but a few managed to survive. This particular figure was salvaged from a box of discarded toys, according to a provenance letter from Star Wars expert and dealer Brian Rachfal.

"The rocket-firing Boba Fett action figure long ago became such a mythic icon that people worldwide know about it even if they don't collect anything at all," Joe Maddalena, Executive Vice President of Heritage Auctions, told New York Post. "We knew this one had a chance to enter the record books, and it was thrilling to see it become the most valuable toy in the world."

The auction, which took place on May 31 in Texas, also featured other rare Star Wars memorabilia, including another Boba Fett figure, a Skywalker lightsaber, and an early draft of George Lucas' screenplay for the original film. The event attracted over 1,500 bidders and brought in a total of $1,662,000.

The buyer of the record-breaking Boba Fett figure chose to remain anonymous. This sale underscores the enduring popularity and cultural significance of Star Wars collectibles, particularly those associated with iconic characters like Boba Fett, who has continued to capture the imagination of fans through various media, including the recent television mini-series "The Book of Boba Fett."