Thank you for submitting your item for appraisal. This appears to be a second half 20th century pasticcio view of Venice, inspired by copper engravings, painted on old wood panels. The wood panels have been cut open, thus where the woodworm larvae ate through the timber is now visible. It is a decorative piece for home decor or an italian restaurant or ice cream parlor. Unfortunately the painting itself is not as old as you were hoping, but you are about right about the wood. The estimate is based on similar offered or sold at auction.