Thank you for submitting your item for appraisal. This appears to be a chinese teapot of recent production, transfer printed with additional handpainting and moriage slip painting and gloss gilding in the manner of japanese Kyo Yaki Brocade style. This type of imitation porcelain was first introduced in the 1990s and since then a large variety of items is available.The estimate is based on similar items sold or offered at auction. Some "asking prices" in the trade used to be higher.