Thank you for submitting your item for appraisal. This appears to be a rather unusual oil on corduroy mohair painting of two young ladies playing a lute guitar, situated in a kind of french salon. I have seen a number of japanese turn of the century paintings done in the same technique, but a belle epoche painting like this is rather rare. This must have been intented as a decorative wall decoration at the time, it pleases the eye but it is not great art, although done by an experienced possibly italian painter. The estimate is based on similar sold or offered at auction.