Maendem,
While I am most appreciative of Benedict’s faith in my forum (the Eastern Christianity forum here at CA, to which he linked), Al’s advice to register and post your inquiry (preferably with a scanned image of the icon) at the Byzantine Forum is definitely your best bet. While a few of our posters here are very familiar with iconography (Father Ambrose, Padre Ambrose, John/Prodomos, and Neil/Irish Melkite, come most quickly to mind), there isn’t the level of expertise to be found at the Byzantine Forum. Your best bets for info there are
Chtec,
70x7, or
Iconophile, all of whom are themselves iconographers, or Anton, a native Bulgarian.
While identifying the icon would be relatively easy, given a depiction of it and/or more detail, dating it and authenticating it could be more difficult. As Patchunky says, the market for “genuine antique” icons that were created yesterday is ripe and lucrative.
You only mention the Theotokos, so I presume that there is no one else pictured. The coloration you describe, red robes, is proper to the tradition. You mentioned her arms as folded before her; I initially mis-read it and thought of her hands being folded before her, which would suggest the icon of the Sorrowful Theotokos or Weeping Virgin, a not unpopular presentation in Bulgarian iconography. A couple representations of it are pictured
here and
here.
Offhand, I can’t think of an icon of the Theotokos alone with arms folded, but there are hundreds of various popular representations, as well as probably twice that in locally venerated representations that are not well known.
Hope we have been of some assistance.
Joe