Thank you for submitting your item for appraisal. This appears to be a traditional balinese wood carving from Denpasar, mid 20th century.
There are numerous woodcarving workshops all over Bali, predominantly selling decorative items to tourists. This bust depicts Ghandi, and was most likely inspired from popular photographs of the 1940s. Little is known about the carver Ma De Panti.G or M.D. Panti in Denpasar, southern Bali, except for a few sentences mentioning the name.
The estimate is based on auction results. "Asking prices" in the trade or pre-auction estimates are often much higher.