1986 Japan authentic dragon fighting heroes set!...ID help..

I'm not sure if I've seen it or not. It's extremely cool, and it's extremely old, so it should sell for a good price. You might have done a little better if you put the brand Epoch in the title, as that's who made it and your title isn't very good.

This is an extremely cool Epoch piece, i'm amaze of how many minor characters are in that set. those kind of things predates to the Bandai Keshigomu line from 1989-1996, which has similar style figures. you are going to have a difficult time finding more info about it since it is vintage.
I must say that 40$ is far too low for somthing like this, it is open and the box is in bad shape, but this kind of item should be sold for at least 65$ - 120$.


Edit: A mint set being sold for over 200$ 
www.mandarake.co.jp/information/2005/04/26/spr07/index.html

Here is another similar item by Epoch, i wonder if the other figures were characters for the tenkaichi item.
  
  

The fact that those people in the crowd are all different and drawn front and back is amazing. Toy makers these days do not go through that sort of work. They either had to hire the animators or Toriyama to do the artwork or hire someone else with a similar style to do it as those aren't simply screenshots from the show. Lots of attention to detail in these old sets.