This identically dual-sided cat face lantern was produced by Dolly Toy for many seasons beginning in the 1940s and extending well through the 1950s. These lanterns are usually found in poorish condition due to the irregular borders, the thin inserts and the wax almost found at the bottom. Hence, these generally fetch in the $50-75 range. However, this example is in unusually nice condition with the only real flaw being a hole at the one on one side. That accounts for the ending price, as condition does (and should) heavily factor into desirability. (Always buy the best, fellow collector!)
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Mark B. Ledenbach's vintage Halloween collectibles blog.