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.
Comtesse de Toulouse-Lautrec, by descent from the artist.
Baron Séré de Rivières.
A gift from the above to the present owner circa 1950.
M.G. Dortu, Toulouse-Lautrec et son Oeuvre, vol. III, New York, 1971, no. A.49 (illustrated p. 465).