This is a vintage early 20th century Nichols and Stone chair done in a Revival of a Windsor Sack Back form. Nichols and Stone is a Gardner, Massachusetts based furniture making company that was established in 1857. The Windsor Sack Back chair form emerged in young America in the late 18th century. This is Model 2050 in oak by Nichols and Stone. It does have added steel re-inforcements, which will extend the life of the chair, however it does impact the value. The Nichols and Stone chair market is currently slumped. Pieces do not sell for what they used to sell for a few decades ago. The market was further impacted by the Recession. The estimate is based on actual recent past recorded auction sales of comparables. Retail 'asking prices' can be higher and vary.