VAT rate of 5% is payable on hammer price and at 15% on the buyer's premium
Ernst Schwitters, Lysaker, by descent from the artist in 1948.
Galerie Gmurzynska, Cologne.
Acquired from the above in 1992 by the father of the present owners, and thence by descent.
PROPERTY FROM A PRIVATE SWISS COLLECTION
H. Cantz, Kurt Schwitters, Catalogue raisonné, vol. III, Bonn, 2006, no. 3068 (illustrated p. 430).