A 37.5-inch-long replica of the ill-fated Lusitania, the star lot in an auction of antique toys collected by the late Malcolm Forbes and his sons, sold for $194,500 at Sotheby’s on the Upper East Side yesterday.

The publishing magnate bought it in 1983 for $28,600. The actual Cunard ocean liner was torpedoed by a German U-boat in 1915.

Overall, the sale’s 237 lots, which included toy knights and the earliest surviving Monopoly game, handmade by its inventor, Charles Darrow, failed to stir as much excitement as expected.

While the room was packed with dealers and collectors, they seemed more interested in less-expensive lots.

A doll lighthouse with a presale range of $10,000 to $15,000 went for $17,500. A 19th-century toy gunboat made in Germany in the 1880s fetched $134,500, failing to reach its low estimate of $150,000.

The largest boat in the Forbes collection, the 47-inch-long French battleship “Andre,” was expected to go for as much as $300,000. It failed to sell.