Thank you for submitting your item for appraisal. This appears to be a japanese cast iron lantern, depicting a scene of a hummingbird eating nectar from a Hibiscus flower. Cast iron lanterns are very common in Japan, they were an inexpensive form of keeping the fire safe. The estimate is based on similar, most likely first half 20th century lanterns actually sold at auction. "Asking prices" in the trade can be higher and vary.