This is a vintage, later 20th century, about 1980s, hand painted molded bisque porcelain figurine of two clowns. These were distributed by Napco, or the National Potteries Corporation which was established in 1938 in Bedford, Ohio. After World War II, Napco began export sourcing their wares from Japan. Although produced in Japan, the style of this decorative figural group is influenced by Capodimonte figurines from Italy; hence the Porcellane D'Arte tag and stamp. The 167 is the model 'pattern name' for this figural. The estimate is for catalogue auction sale and is based on actual recent past recorded auction sales of comparables. Retail 'asking prices' can be higher and vary. Insurance and estate tax purpose appraisals will also vary and are not provided here.