NAO by Lladro 'Girl Holding Puppy' Porcelain Figurine

This is a vintage Spanish porcelain figurine produced by NAO, a brand within the Lladro Group. The piece features a young girl with curly brown hair wearing a wide-brimmed white hat with a blue ribbon. She is dressed in a sleeveless blue bodice over a long, flowing light-lilac or mauve skirt. Cradled in her arms is a white puppy, possibly a spaniel or poodle mix. The figurine exhibits the classic Lladro aesthetic with a high-gloss glaze finish and a soft, pastel color palette comprised of muted blues, creams, and earthy tones. Typical for this era and maker, the piece is constructed from fine hard-paste porcelain. The craftsmanship is evident in the delicate detailing of the girl's facial features and the gentle draping of the skirt. Based on the provided context, this piece dates to 1991. While the underside mark is not visible in the photo, NAO pieces usually bear a stamped 'NAO Made in Spain by Lladro' logo. The item appears to be in excellent vintage condition with no visible chips, cracks, or restorations. It still retains a white retail or inventory tag attached with twine. The height is estimated to be approximately 8 to 10 inches, standard for this series of NAO figures.

I have examined the digital representation of this NAO by Lladro figurine, 'Girl Holding Puppy,' dated 1991. Based on visual analysis, the piece demonstrates the characteristic soft pastel palette, high-gloss finish, and fluid modeling associated with the Lladro group’s artisan workshops in Valencia, Spain. The condition appears to be excellent; the delicate brim of the hat and the puppy’s ears—common points of failure—show no signs of chips or professional restoration. The presence of a vintage retail tag suggests the item has been well-maintained in a collection rather than subjected to heavy handling. The market for NAO figurines is stable but highly saturated. Unlike the 'Elite' or limited edition Lladro lines, NAO was designed as a more accessible entry point for collectors. Market comparables for similar 'Girl with Animal' motifs typically realize between $40 and $70 at auction and secondary retail markets. Value is supported by the 1990s vintage, which collectors often prefer for its glaze quality, yet tempered by the high production volume of this specific series. Limitations of this appraisal include the inability to inspect the underside for the blue 'NAO' backstamp and incised mold marks, which are essential for definitive authentication. A physical examination is required to check for 'flea bites' or hairline fractures invisible in photographs, and to confirm the absence of cleverly disguised epoxy repairs. While the image suggests authenticity, a full valuation would require verifying the backstamp and ensuring the piece is not a 'second' (marked by a scratch through the logo).