Thank you for contacting Mearto with your appraisal inquiry.

It is a beautiful antique doll. Such antique toys are being offered at auction on a regular basis.
You doll was made in Germany in the late 1800s / early 1900s. It was made by a company called Armand Marseille who has made a large number of the antique dolls that are collected by doll collectors worldwide today. I believe that the doll may have an additional serial number in the back of the head ad the number 12 between the A and M is the size of the doll. What is most important is that the head is without any hairlines, cracks, chips or damages. From the photos it appears to be in good condition however it is important with a thorough examination of the dolls head. The clothes and shoes appears to be original and in very good condition. In particular the leather boots/shoes will please collectors and dealers.
However during the past decade the prices of antique dolls has decreased and there are not that many new buyers/collectors. Unfortunately this means that the prices have dropped compared to the prices for antique dolls 20-30 years ago.

I still believe that your Armand Marseille doll would attract the attention of both collectors and dealers if it came up for auction.
The estimate provided is for a well-advertised specialised online toys auction, where I believe the doll has the best chance of realising its fullest potential. However, there is no measurement for the sentimental value you might attach to your fathers collection of dolls. 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