In the 1960s several manufacturers in the GDR started producing 1/30th scale friction-powered plastic model cars. One of these manufacturers, GEVO, released models of the Skoda Octavia and the Wartburg 353. Other Skoda models and a 1965 Opel Rekord coupé followed.
After the nationalisation of the GDR toy industry in the early 1970s the models were made by the state-owned enterprise Plasticart in Zschopau until 1989. In addition to the Eastern European cars and the Opel Rekord, a model of the Ferrari 330 GTC was introduced in the Plasticart range in 1980. The former Espewe models in 1/87th scale, which were produced in Annaberg-Buchholz, were also marketed under the Plasticart name in the 1980s. Source: modelcars.mbeck.ch
What's it worth? Take a look at this Plasticart price guide: sold listings for a value indication.