Thank you for submitting your item for appraisal. This appears to be a chinese watercolour, depicting in shades of grey and black a sprouting bamboo. The chinese painting is signed with three chinese characters and two artist seals. The handwriting is hard to decipher and the same applies for most parts of the seal stamps. Most likely the name is Gui Li Pu 圭 利 (?)浦. No first half 20th century artist with that particular combination of characters is listed in auction results. The estimate is based on similar paintings by lesser known artists offered or sold at auction.