Thank you for contacting Mearto with your appraisal inquiry.

It is a beautiful vintage doll. Such vintage and semi-antique dolls and toys are being offered at auction on a regular basis.
The dolls head is made of porcelain painted after the firing which was typical for dolls made post 1930-1940. The body and limbs are made of papermache and a kind of cloth. The doll is made by by North American Mfg. Co. and has original clothes and accessories which is of importance for the estimate as well as the fact that the doll is intact without any cracks or chips on the head. Unfortunately vintage dolls have decreased in price during the past 2-3 decades as there are not that many new collectors.

However due to the good condition and the original box and clothes/accessories I believe that your 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 the 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