What's it worth? Appraisal of antique hand carved figures

Sage asks:

What can you tell me about these carved figures?

AW says: Those are marvelous hand carved folk art pieces made in Germany. They were made to celebrate the composers Robert Schumann and Richard Wagner. Although they are signed Schumann/Wagner as though this was a company, extensive research doesn’t reveal any such company.

Keep in mind labels often depict other things besides makers names, such as model lines, versions, artists etc.

This set get’s points for having so many pieces in the orchestra, and for being in such good condition.

Circa late 1880s to early 1900s. All price ranges are for the entire set.

Retail price: $275

Wholesale: $150-$195

Quick sale (This set should not have to suffer a quick sale price)

Keywords = Folk art, hand carved, German carved figurines, carved orchestra, Schumann, Wagner