This is a circa 1900, Arts & Crafts era, Renaissance Revival style quarter-sawn oak chair that is based on the Italian Renaissance era furniture form called the savonarola chair. The surface decoration is actually press-molded and not hand carved. This was a new technology in that era that helped manufacturers achieve higher output with lower labor input time.
The estimate is based on actual recent past recorded auction sales of comparables. Retail 'asking prices' can be higher and vary.