Hake's Auctions in Pennsylvania is responsible for the sale of the figure — which features a "J-slot" rocket firing mechanism that ultimately prevented it from ever being offered to the public — and as of this writing bidding has climbed to $133,126.88, already a record price. The auction for the figure does not end until November 7, which means there's still plenty of time for bids to go up past the $200,000 mark, or even higher. Hake's own estimate of the figure's value is as high as $500,000.
The Boba Fett rocket firing action figure was produced in 1979, and according to Hake's only 80-100 prototypes of the fully-painted J-slot figure were shipped to Kenner for testing. Of those, less than 30 are believed to exist now, and some of them are in bad shape due to testing they underwent. The testing process led Kenner to determine that the rocket firing out of Boba Fett's back presented a choking hazard to children, so the figures were modified to include a solid rocket backpack that didn't fire any projectile.
Before the rocket firing action figures were officially pulled from release, though, they were part of a mail-in promotion, according to The Wrap. Fans were sent the non-rocket firing Boba Fett figures instead, but the rocket firing version earned a place in the imagination of Star Wars collectors everywhere. According to a press release from Hake's, this example of the J-slot figure is believed to be the one used as a photo example in Tomart's Price Guide to Worldwide Star Wars Collectibles, and is likely one of three J-slots that were discovered in the 1990s. Prior to that, the J-slots were largely unknown, in part because they were preceded by the more common "L-slot" version of the figure. The L and the J refer to the shape of the catch in the figure's back for the firing mechanism.
The current record for highest-selling Star Wars toy ever is $112,926, set by an L-slot Boba Fett prototype sold by Hake's earlier this year. Now, this figure is poised to easily break that record. If you've got enough cash to spare, you can try your luck bidding on it over at the Hake's website.
UPDATE: Bidding on the J-slot Boba Fett action figure concluded on November 7 with a final bid of $185,850, breaking the old record for highest-selling Star Wars toy by more than $70,000.
This story was originally published Oct. 25 and updated Nov. 11.