Great question , nattyboh ...
1. My first answer is : research , research & research some more .
2. If you need insurance/replacement value , ask your ins agent what they'd accept as verification of it's worth .
3. Professional appraisers will give you the info , for a price ( that may be more than what your item is worth) .
4. Consult with a local ( & friendly ) antique dealer for an informal opinion ( I like to find out what kind of 'treats' they like - espresso , cookies, etc. - and bring one with you / or buy a small item from them before you ask for an opinion) .
5. Plan an outing to San Francisco where shops specialize in items like yours (if you still live in Ca.) & refer to #4 .
6. Find a regional/local place that does a 'free appraisal' day sort of thing .
7. Put it up for sale yourself , with a 'reserve price' & see what happens .
Values of old , hand-made items vary alot & purchase prices remain subjective (in my opinion) ... a collecter of tools might sell a teacup set for $40.00 & a dealer might get $400.00 for the same item ( I think you know where I'm heading here) .
If you 'just' want to know to satisfy your own curiousity , that's a research stance that takes away alot of pressure to get the 'right' price in a hurry .
Given enough time , I think you can establish wholesale vs retail vs what-the-whacky-cat-lady-will-pay price ranges .
The bottom line that I see is that you've got an interesting story & a cool little carving to boot !