This portrait, together with one of the sitter's daughter, Giovinetta Errazuriz (see lot 15) were exhibited at the breakaway Salon at the Champs-de-Mars in 1892. The catalogue illustration of this work shows that the artist substantially altered the composition following the exhibition, by repainting the back of the divan, lengthening the sash, and softening the contours of her face. Boldini combines the swirling movement of the dress with the contours of the day-bed, a prop which he was to use in several other portraits, such as Madame Veil-Picard (1897) (Private Collection), Lady Colin Campbell (1897) (National Portrait Gallery, London), and Mrs. G. Blumenthal (1912) (Brooklyn Museum).

Josephina Alvear de Errazuriz was a member of the well-known and wealthy Chilean family that lived in France after the 1880s. Her aunt by marriage, Eugenia Errazuriz, was an inspiration and patron of many artists, and is credited with discovering Picasso. Eugenia's main interest was ballet, and it was through her that Diaghiliev encouraged Picasso to design sets for "Parade".

A later portrait of the sitter (circa 1912), bust length, wearing a feathered busby, is in a private collection, Pavia.