It's cuddly but costly -- this bear sold for $100,000

NEW YORK (CNN) -- It's fluffy, it's brown -- and it cost $100,000.

That's the amount Japanese collector Yoshihiro Sekiguchi paid at an auction Tuesday for a one-of-a-kind teddy bear that will now grace the businessman's third teddy bear museum, located near Tokyo.

The auction house William Doyle Galleries said the money -- the most ever paid for a teddy bear -- would go to children's charities.

The 34-inch toy animal was created by Gund manufacturers to commemorate the U.S. company's centennial anniversary in the toy-making business.

Reuters contributed to this report.