Thank you for submitting your item for appraisal. This appears to be a second half 20th century serpentine or celadon jade carving of a drunken scholar holding a wine bottle, inscribed on the bottle "酒", lower part acid etched and patinated to give it same "age". It is well balanced carving by a master artisan, but it might not be as old as you suggested. A hands on examination would be necessary to determin whether traces of modern tools can be found or not. The estimate is based on similar items offered or sold at auction. "Asking prices" or chinese auction "results" can be much higher and vary.