This statue was created by a German carver in around 1450, but is a copy of an earlier work from between 1330 and 1340 which is known as the Madonna of Altötting. There’s more about this original carving at the Abbey’s official web-site, and Altötting has some significant religious significance, it has been the location of Catholic pilgrimages for over 500 years to honour Mary, with Pope John Paul II visiting in 1980 and Pope Benedict XVI in 2006.
This copy is made from lindenwood (limewood) a relatively large amount of the original paintwork has survived, indeed so much that I wonder if it has been restored at some point. Given that it’s around 600 years old, the condition really is quite impressive and it’s notable that people have been sufficiently careful with it so that no fingers have been snapped off. The omission here is not knowing its provenance, where has this been for 600 years? A few museums are providing more details of the provenance, but this one will have to be a mystery.