Thank you for submitting your item for appraisal. This appears to be a chinese late Qing Dynasty silk embroidered Scent Pouch or Incense Purse, made of red silk, with gold colored embroidery and tassels and beads (?). The purse has been mounted in a frame for display. The estimate is based on similar items offered or sold at auction, "asking prices" in the trade can be higher and vary.