Thank you for submitting your item for appraisal. This appears to be a chinese watercolor, depicting the beautiful scenery around Guilin. Judging from the overall condition I would assume that the watercolour is less than fifty years old. According to the inscription it was painted in the autumn of 1989 (1929 would be an unlikely possibilty) by an artist with the name 曰 丽 Yue Li of which no auction results are listed. The estimate is based on similar items offered or sold at auction. "Asking prices" in the trade can be higher and vary.