This is a late 19th century, about 1885-1890, Victorian era, Eastlake style, likely walnut, side chair with what appears to be the original upholstery. The Victorian furniture market is currently slumped. Pieces, even the original period pieces, do not sell for what they used to sell for a few decades ago. The market was further impacted by the Recession. The estimate is based on actual recent past recorded auction sales of comparables. Retail 'asking prices' can be higher and vary.