On occasion, Christie's has a direct financial interest in lots consigned for sale which may include guaranteeing a minimum price or making an advance to the consignor that is secured solely by consigned property. This is such a lot. This indicates both in cases where Christie's holds the financial interest on its own, and in cases where Christie's has financed all or a part of such interest through a third party. Such third parties generally benefit financially if a guaranteed lot is sold successfully and may incur a loss if the sale is not successful.
VAT rate of 5% is payable on hammer price and at 15% on the buyer's premium
Emilio Cargher, Oberhof, a gift from the artist in January 1923.
Peggy Guggenheim, London, by 1939.
Heinz Berggruen, Paris, by 1958.
Sidney Janis Gallery, New York.
Acquired from the above by the late owners in August 1960.
PROPERTY FROM THE ESTATE OF J. IRWIN AND XENIA S. MILLER
The artist's handlist, watercolours, as '1922, 46'.
V. Endicott Barnett, Kandinsky Watercolours: Catalogue Raisonné, Volume Two, 1922-1944, New York, 1994, no. 597 (illustrated pp. 31 and 48).