This is a vintage, 20th century, circa 1950 console piano by Winter & Company. The piano making company was originally established in 1899 as Heller & Company by Gottlieb Heller and Henry Heller. They were then bought out by Winter & Co in 1901 and continued under that name until 1959 when they merged with the Aeolian American Corp and changed the product name to Aeolian. Pianos are a hard sell in the current market and Winter was a mid-range brand. The estimate is based on actual recent past recorded auction sales of comparables. Retail 'asking prices' can be higher and vary.