Thank you for submitting your item for appraisal. This appears to be a vintage chinese rug, produced in the 1970s. The pastel colours and ornate ornaments are designed to meet western taste. In general chinese rugs have a high wood pile and are of good, lasting quality. Auction results for chinese rugs are quite modest, only antique rugs with excellent provenance sell for high sums. The estimate is based on recent auction results. "Asking prices" in the trade can be higher and vary.