Assessing the Value of Madame Alexander Dolls

For the past century, Madame Alexander dolls have been an iconic part of American childhoods. Created by Madame Beatrice Alexander Behrman in 1923, the Madame Alexander Doll Company has pioneered the way for children play with dolls for generations. From creating dolls less fragile than their porcelain predecessors when the company launched, to introducing the first fashion doll (yes, pre-Barbie), Madame Alexander has a long history of innovation.

While the Madame Alexander Doll Company continues to produce new models, vintage Madame Alexander dolls are in high demand among collectors. Antique Madame Alexander dolls have been included in prestigious museum collections, such as The Smithsonian and the V&A, and sold at auction for prices as high as $44,000. Read on to learn all about the factors that determine the value of a Madame Alexander doll. 

What’s the Typical Price Range for Madame Alexander Dolls?

Madame Alexander dolls can range in value from under $20 to tens of thousands of dollars. The first-hand collectible dolls that the Alexander Doll Company sells today typically start at around $145 and can reach $850USD. 

Vintage Madame Alexander Dolls from specific eras or limited edition releases are often the most sought-after and therefore the most expensive. Madame Alexander dolls from the 1940s and 1950s are especially coveted by doll collectors, with 1950s Madame Alexander dolls typically selling at the highest prices. Examples of popular limited edition releases include the Gone with the Wind and Little Women series. 

What factors determine Madame Alexander dolls’ value?

The value of a Madame Alexander doll depends on a number of elements. The below factors are typically taken into consideration when appraising the worth of a Madame Alexander doll.

• Age and era. A doll’s release date plays an important role in its pricing. Dolls from the 1940s and ’50s dolls typically sell for especially high prices.
• Rarity. As with most secondary markets, rarity is one of the greatest indicators of potential price. The rarer the doll model, the greater its potential value.
• Condition. Dolls in impeccable condition are more likely to sell for higher prices — collectors simply cherish dolls in top condition.
• Materials. Madame Alexander dolls made from rare materials are typically more expensive. A great example is the line of “Composition” dolls made of a sawdust composite that predates the use of plastic in doll manufacturing. 
• Outfit and accessories. Since most Madame Alexander dolls were produced with the same face molds, their original clothing, packaging, and wrist tags are key to verifying their authenticity. 
• Supply and demand. As with any valued antique item, fluctuations in the demand and desirability of certain Madame Alexander dolls influence their cost as well. 

How to Assess the Value of Madame Alexander Dolls

You can use all the below to determine the value of vintage Madame Alexander dolls. 

• Retail sale price. Valuable Madame Alexander dolls may be sold through an antique shop, auction house, or other secondary merchant. The average cost for a certain model at collectible markets can influence its appraisal. 
• Open market or auction value. The highest bid for a doll sold at auction can also be used to measure the worth of a Madame Alexander doll. 
• Collector forums. Online doll collection forums can serve as a resource for determining value. That said, you might see a wide range of prices from other collectors, so other valuation sources might be more reliable. 
• Insurance value. This figure represents what it would cost to replace a Madame Alexander if it were stolen or damaged.

Which Madame Alexander Dolls Are the Most Valuable?

Vintage Madame Alexander dolls that are deemed worthy of the highest value are usually rare and in pristine condition. Below you’ll find the most expensive Madame Alexander dolls that have been sold. 

1. Madame Alexander Eloise Doll

Projected to be the most expensive Madame Alexander doll in existence, the Eloise doll is reportedly worth $5 million. She’s decked out in designer clothes, including a Christian Dior ensemble, finished with an Oscar De La Renta fur and Katherine Baumann accessories. Only five of these dolls were ever made, and none has so far been sold at auction, so the high price tag remains an estimate. But considering the Eloise doll is also adorned with nine-carat diamonds and Swarovski crystals, the price calculation may not be far off. 

2. ‘Pink Champagne’ Portrait Lady Mystery Doll

In 1951, Madame Alexander released six “Mystery Doll” models, including the extremely rare, elegant “Pink Champagne” doll. The nearly mint-condition doll features a peach-colored ensemble of an embroidered ecru lace gown, satin shoes, and a taffeta skirt, train and petticoat slip. The doll is accessorized with pearl drop earrings and an embroidered purse made of tulle and brass. It sold for $44,000 via the Annapolis, Maryland-based antique doll auction house Theriault’s.

3. ‘Fashion of a Century’ Doll in Blue Period Gown

This is another 1951 Madame Alexander creation in near-mint condition. It was sold in its original box with the wrist tag still attached. Its outfit includes a blue satin turn-of-the-century gown accessorized with gold foil shoes and a pink feather fan. The high level of preservation has also kept the doll’s painted rosy cheeks looking brand new. This doll, originally designed for showcase in the Mid-Century Exposition of 1950, sold for $25,000 at a Theriault’s auction.

4. ‘Antoinette’ Doll from Portrait Series 

Modeled after Marie Antoinette, this 1946 doll was highly sought after for its rare composition. With hand-painted facial features and an 18th-century-style outfit for royalty, the ‘Antoinette’ doll is notably high-quality. The doll’s rose silk faille gown is accented with bows and silk flower embellishments and further outfitted with white stockings and pink bow-front shoes. It sold for $20,000 at a Theriault’s auction.

5. ‘Walking the Dog’ Cissy Doll

Four years before Barbie, Madame Alexander’s Cissy doll collection marked the beginning of fashion dolls in America. It’s common for well-preserved Cissy dolls to sell for over $5,000, and this 1955 doll sold for $17,500 at a Theriault’s auction. 

This doll was kept in its original box and remained in near-mint condition, with a bright outfit and a high-quality complexion. The outfit is primarily made of velvet and includes a black swing skirt, magenta waist trim, and a white jersey knit top. The doll is accompanied by a small white dog on a black leash. 

Where to Buy and Sell Madame Alexander Dolls

Maybe you’ve got your heart set on collecting your own Madame Alexander dolls. Maybe you have one of these valued dolls in your possession and you’re looking to sell it. Either way, you have a few options. 

Antique and collectible shops are one avenue to start with. There are online antique stores dedicated to buying and selling antique dolls, and you can find Madame Alexander dolls on general internet marketplaces such as Etsy. The best route, though, may be online auction marketplaces. The communities that power and use these marketplaces are typically experts on collectibles, including Madame Alexander dolls. You may find just what you’re looking for in these online spaces.

If you want to own a well-preserved doll, Madame Alexander dolls sold at auction generally have a high standard of quality. Similarly, if you’re looking to sell a rare Madame Alexander doll of your own, auction houses can ensure you get the full value.  

Collect a Piece of Doll-Making History

Madame Alexander dolls have held a special place in many childhoods for over one hundred years. The best-maintained vintage Madame Alexander dolls are a snapshot in time from the era they were made. Acquiring an antique Madame Alexander is thus the perfect way to own your own little piece of history — a collectible to hold and cherish.