Thank you for contacting Mearto with your appraisal inquiry.

It is a beautiful Lenci doll. Such antique and vintage toys and dolls are being offered at auction on a regular basis.
It is a very cute and rare edition of the popular Lenci dolls that were made in Italy from 1918. originally the dolls were for adults and made as boudoir dolls however they were also popular amongst children so Lenci made childrens dolls too. They are made of felt and their clothes and accessories are also made of soft material and felt. This type of doll is very sensitive to moth and other cloth-eating insects.
Your doll however appears to be in good condition without any signs of holes in the cloth or felt. Normally Lenci girl dolls sell for 300-500 us$ however this being a special and rare edition and with all the details intact the price is higher. And this is also the type of doll that may surprise at auction as it would attract the attention of both dealers and collectors.

The estimate provided is for a well-advertised specialised online antique toys auction, where I believe the Lenci doll has the best chance of realising its fullest potential. However, there is no measurement for the sentimental value you might attach to the sweet cowboy doll. Retail "asking prices" can be higher and vary.

Please let me know if you have any additional questions. I’m happy to help.
Thank you