Thank you for contacting Mearto with your appraisal inquiry.

It is a beautiful antique doll. Such antique dolls are being offered at auction on a regular basis.
Your doll is a shoulderheaded doll with light painted and modelled hair. The lower legs and arms are made of porcelain as is the head. The body is typically made of leather or some kind of cloth/linen. This particular type of doll was popular in the late 1800s, and I believe you doll was made around 1870-1880. It has no makers name but only the country Germany. Germany had a very large production of shoulderheaded dolls with bisque/porcelain heads during this time.
It is very important to collectors that the doll is in good condition and especially the head must be without cracks, chips or hairlines in order to obtain a good price if sold.

The estimate provided is for a well-advertised specialised online antique 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 the sweet 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