Thank you for contacting Mearto with your appraisal inquiry.

It is a lovely teddy on wheels. Such vintage toys are being offered at auction on a regular basis.
From the look of your teddy bear on wheels I think it may have been made by the German company Steiff. They made these kind of toys in the early 1900s and what is special about the Steiff teddybears is that they resemble real bears. They have the pointed snout, the hump on the back and the long limbs. You may find traces of a metal button in the left ear. This was the way Steiff marked their toys.
As for dating the teddy bear on wheels I think it was made around 1920-1930. It is what would have been quite a costly toy at its time, and in fact still is if the condition of the toy is good.
Most soft toys were either made of felt, mohair or leather in the early 1900s. And teddy bears usually have mohair fur and then they are filled with a kind of sawdust stuffing.
Your teddy appears to be in fairly good condition. You have not described any faults or repairs.

I believe that the teddy on wheels would attract the attention of both collectors and dealers if it came up for auction.
The estimate provided is for a well-advertised specialised online toys auction, where I believe the teddy has the best chance of realising its fullest potential. However, there is no measurement for the sentimental value you might attach to your stepdads teddy. Retail "asking prices" can be higher and vary.

Please let me know if you have any additional questions. I’m happy to help.
Thank you