8 June 2011
Study of Two Ducks, signed with initials and dated 1921.
Pencil and watercolour on paper, 35 by 22.5 cm.
Provenance: The Lothar Bolz collection, Germany.
Acquired from the above by the present owner.
Notes on symbols:
* Indicates 5% Import Duty Charge applies.
Ω Indicates 20% Import Duty Charge applies.
§ Indicates Artist's Resale Right applies.
† Indicates Standard VAT scheme applies, and the rate of 20% VAT will be charged on both hammer price and premium.