No VAT will be charged on the hammer price, but VAT at 15% will be added to the buyer's premium which is invoiced on a VAT inclusive basis.
Almost certainly a gift from Arthur Rackham, R.W.S. (1867-1939) to H.R.H. Princess Mary, The Princess Royal, Countess of Harewood (1897-1965) circa 1914.
Acquired from the estate of H.R.H. Princess Mary, The Princess Royal, Countess of Harewood by the Hon. Mr. & Mrs. Gerald Lascelles.
Fort Belvedere, Runnymede, Surrey, 1956-1976.
Virginia Water Cottage, Windsor Great Park, Berkshire.