Found a similiar fan in the collection of The Central Museum of Ultrech, Germany dated 1900/1925 Here is museum description:    

"14 unvarnished cuttings end a few centimeters below the edge of the paper, 2 outer lacquered wood, copper clamp from the ashes. Paper fan with serrated top edge. Presentation: Wagner Grusz aus Bayreuth" Measures 9 1/4" in Length and 16 1/2" when open. This version has white sticks and guards with gold decorative motif. PLEASE NOTE: small tear on back leaf-see photos


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Maker
Anonymous
Item number
18821
Institution
Central Museum
Period
1900/1925
Description: 
14 unvarnished cuttings end a few centimeters below the edge of the paper ...Read more
Origin
purchase 1974
Inscriptions: 
Grusz aus Bayreuth Eigenth. v. Heinz.Heuschmann jr. Bayreuth

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 All reactions 
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Maker
Anonymous
Item number
18821
Institution
Central Museum
Period
1900/1925
Description: 
14 unvarnished cuttings end a few centimeters below the edge of the paper ...Read more
Origin
purchase 1974
Inscriptions: 
Grusz aus Bayreuth Eigenth. v. Heinz.Heuschmann jr. Bayreuth