Acquired directly from the artist in 1956

There is very slight discoloration between the glass and paper to left of horse's neck. Small water stains are present upon very close inspection and the white paint on and under the horses belly has shrunk and displays some minor cracquelure. Very minor fading to the pigment is noticeable to the right of the horse's leg as well as a few surface accretions throughout.
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.
NOTWITHSTANDING THIS REPORT OR ANY DISCUSSIONS CONCERNING CONDITION OF A LOT, ALL LOTS ARE OFFERED AND SOLD "AS IS" IN ACCORDANCE WITH THE CONDITIONS OF SALE PRINTED IN THE CATALOGUE.