This is not a German-made porcelain item. It was made in Japan and has significantly less value than its corresponding German counterpart. This is an atypical Japan porcelain example as some of its characteristics are opposite of what is normally seen. Although the item appears to be overly knobby, and does looks disproportionate to the more elegant German design, this example looks heavy and clunky, cheap-seeming in that way, rather than the feather-light cheapness you would normally expect to see in a Japanese-made porcelain item. For a solid tutorial on how to tell German porcelain items from Japanese porcelain items, see page 119.
Mark B. Ledenbach's vintage Halloween collectibles blog.