VAT rate of 5% is payable on hammer price plus buyer's premium
Purchased by S. Gutman at the 1928 exhibition.
R. Hart-Davis, A Catalogue of the Caricatures of Max Beerbohm, London, 1972, p. 128, no. 1290.
London, Leicester Galleries, Max Beerbohm, December 1928, no. 29.