This kind of fans, of oriental importation, it was very fashionable between the end of the XIX century and the beginning of the XX century. Particularly, this one comes from Veneto, and in almost all the north of Italy it is still possible to find some street market. For example, the area of Trieste is very rich of objects coming from Japan. Even if this fan is not made of a precious material, it has a precise fretwork workmanship so that it seems to be a lace.
"Details make perfection, and perfection is not a detail."
Leonardo Da Vinci