This doll costs about 1/2 the price of its competitor, American Girl. It doesn't come with the books or have the history that AG dolls do, but they are just as high-quality as AG dolls are. Everything from body, to hair, to clothing is meticulously done down to the last detail. There's also tons of accessories and outfits you can get for them.
I picked this one because she reminds me of my daughter, down to the puffy hair and glasses. She loves that the doll looks like her and it's among her must-drag-everywhere toys.
While Madam Alexandra dolls cost less than AG dolls do, unless you're shopping around the holidays, you're still going to pay around $150 or higher for certain ones. Even the newborn dolls are over $100 when they aren't on sale.
Due to the cost, even when on sale, I wouldn't recommend this doll to children who don't properly care for their toys. This is a collectible and while it's meant to be played with, if it gets ruined, you've wasted a LOT money.
I was lucky, I got mine during holiday time when they were on sale and only paid $60 for this one. So my advice would be to hawk them and wait until the price drops for a good deal.