Specialist Kathy Taylor at auctioneer Vectis Auctions said the bag attracted attention because of the Star Wars The Empire Strikes Back logo.
The vintage bag was offered at Vectis in Thornaby, Teesside, carrying an estimate of £20-30 on November 29. After interest from collectors, it was hammered down for eight times the upper figure at £240.
The bag was from the Palitoy Staff Shop in Coalville, Leicestershire, and carries the Palitoy “we care" logo as well as product logos including Star Wars The Empire Strikes Back; Play-Doh; Action Man and Chad Valley.
Taylor said: “It is the Star Wars logo which has commanded the most attention and bids. So now we know, it’s not just the boxes we need to keep with our toys, but the bags too!”
Founded in 1919
Palitoy was originally named Cascelloid. Founded in 1919 by Alfred Pallett, its toy division began operating under the Palitoy name. It made toys under licence including Action Man and was so successful that in 1968 it was sold to the US giant General Mills.
But production shifted to the Far East in the 1980s and the factory eventually closed.