Thank you for submitting your item for appraisal. This appears to be a contemporary carved wood "cigar store indian statue", painted in modern acrylic colours. There are a few stress splits which occur when the wood has not been properly dried, they are not a prove of age. Such statues were manufactured in Asia, e.g in the Philippines since the 1980s. The estimate is based on current auction results. The modern reproductions can not be compared to the antique statues, which were used for advertising in front of cigar stores. The one in your possession was made for home decor only.