Thank you for submitting your item for appraisal. This appears to be a watercolour / gouache by Filippo DE PISIS (1896-1958) depicting flowers in a vase. The formerly white paper has turned yellow / brown which changes the overall appearance of the painting. The signature very much matches the artist´s signatures, but you will have to have it authenticated. The estimate is based on similar drawings of similar size sold at auction. Prices in the trade are higher and can vary.