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.
Bought in Madrid by the grandfather of the present owners, in 1918, and by descent.
THE PROPERTY OF A EUROPEAN FAMILY
G. Papi, Spadarino, Rome, 2003, p. 127, no. 11, pl. XXII.