Galleria Vittorio E. Barbaroux, Milan 
Igino Zanda, Siena
Thence by descent to the present owner

Raffaele Carrieri, Giorgio De Chirico, Mongrafie d'Arte, Milano, 1942, illustrated pl. XXXIV

Painted on paper, laid down on board. The board is stable. UV examination reveals some scattered flecks of retouching in places. There is a thin border of discolouration to the extreme left and upper edges, a small diagonal crease to the upper right corner, and some tiny air bubbles in places, due to the laying down process. Otherwise, this work is in overall good condition. Colours: Fairly accurate in the printed catalogue, though overall warmer and the blue of the sky is slightly more green in the original.
"In response to your inquiry, we are pleased to provide you with a general report of the condition of the property described above. Since we are not professional conservators or restorers, we urge you to consult with a restorer or conservator of your choice who will be better able to provide a detailed, professional report. Prospective buyers should inspect each lot to satisfy themselves as to condition and must understand that any statement made by Sotheby's is merely a subjective, qualified opinion. Prospective buyers should also refer to any Important Notices regarding this sale, which are printed in the Sale Catalogue.
NOTWITHSTANDING THIS REPORT OR ANY DISCUSSIONS CONCERNING A LOT, ALL LOTS ARE OFFERED AND SOLD AS IS" IN ACCORDANCE WITH THE CONDITIONS OF BUSINESS PRINTED IN THE SALE CATALOGUE."

In Cavalli in riva al mare two horses clash playfully on the beach. De Chirico here revisits one of his most iconic mythological motifs: that of horses by the sea. In this delightful and dramatic work, the artist uses a bold palette which complements the expressionistic modelling of the equine figures, their manes billowing in the wind. Although the work was executed at a time when the artistic avant-garde found itself divided between abstraction and figuration, the painterly style clearly owes a lot to the baroque. As with all of his best work, the artist adds an enigmatic complexity to the painting, transcending the narrative imagery. Jean Cocteau summarized it best, saying that 'de Chirico, born in Greece, no longer needs to paint Pegasus. A horse by the sea – with its colour, its eyes and its mouth – assumes the significance of myth' (J𒀰ean Cocteau, 1928, quoted in Giorgio Ruggeri (ed.), Pictor Optimus Pinxit, Bologna, 1979, p. 38, translate♏d from the Italian).