With Schaeffer Galleries, New York;
From whom acquired by George and Ilse Nelson in the early 1950s.

The following condition report has been provided by Simon Parkes of Simon Parkes Art Conservation, Inc. 502 East 74th St. New York, NY 212-734-3920, simonparkes@msn.com , an independent restorer who is not an employee of Sotheby's. This painting has been recently restored and should be hung as is. The restoration has been accurate and very thorough. The panel is stable and slightly bowed from left to right. The paint layer has a good deal of sharpness and character, despite fairly numerous retouches. It does not appear that abrasion or discoloration has been an issue. There are numerous retouches within the figures in the lighter colors addressing small specks, less so in the face of the Madonna and the faces of the children, but the bodies of John and Jesus are quite retouched as are the light colors in the clothing and hands of the Madonna. The green dress at the bottom of the picture has also been quite thoroughly retouched. It is not immediately clear as to why this retouching has been so vigorously applied and as is so often the case, this restoration may be a little over enthusiastic. However, although the restoration could be reexamined, the painting looks well as is.
"This lot is offered for sale subject to Sotheby's Conditions of Business, which are available on request and printed in Sotheby's sale catalogues. The independent reports contained in this document are provided for prospective bidders' information only and without warranty by Sotheby's or the Seller."