This is an antique, late 19th century to turn of the 20th century, Victorian era and style, barrel back swivel chair that is done in a quarter-sawn oak. Thomas Jefferson is credited with inventing the first swivel seat chair in 1776. This one has elements of the Second American Empire style as well as the Arts & Crafts Movement. The estimate is based on actual recent past recorded auction sales of comparables. Retail 'asking prices' can be higher and vary. 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.