Estate of the artist
Marina Picasso (the artist’s granddaughter; acquired from the above)

Venice, Centro di Cultura di Palazzo Grassi, Picasso, Opere dal 1895 al 1971 dalla Collezione Marina Picasso, 1981, no. 98
Munich, Haus der Kunst & traveling, Collection Marina Picasso, 1981-82, no. 82
Tokyo, National Museum of Modern Art & Kyoto, Municipal Museum, Picasso: Masterpieces from Marina Picasso Collection and from Museums in U.S.A. and U.S.S.R., 1983, no. 69, illustrated in the catalogue
Barcelona, Fundació Caixa de Barcelona, Picasso Cubista 1907-1920, Colección Marina Picasso, 1987, no. 38, illustrated in the catalogue
New York, Jan Krugier Gallery, Cubist Works from the Marina Picasso Collection, 1987, no. 29, illustrated in the catalogue
Tokyo, Seibu Art Forum & Ohtsu, Seibu Hall, Pablo Picasso, Collection Marina Picasso, 1990-91, no. 37, illustrated in the catalogue
Schwerin, Staatliches Museum, Pablo Picasso, Der Reiz der Fläche/The Appeal of Surface, 1999, no. 31, illustrated in the catalogue
New York, The Museum of Modern Art, Picasso Guitars 1912-1914, 2011, no. 59, illustrated in the catalogue

Christian Zervos, Pablo Picasso, Supplement aux années 1910 à 1913, vol. XXVIII, Paris, 1974, no. 128, illustrated pl. 66
Josep Palau i Fabre, Picasso Cubism 1907-1917, New York, 1990, no. 781, illustrated p. 279
Picassos Surrealismus, Werke 1925-1937 (exhibition catalogue), Kunsthalle Bielefeld, Bielefeld, Germany, 1991, no. 56a, illustrated p. 331
Picasso Sculptor/Painter (exhibition catalogue), Tate Gallery, London, 1994, no. 19, illustrated p. 190

Executed on very thin cream wove paper. The sheet is hinged at the upper left and upper right corners of its verso. "1912" inscribed on the verso and inscribed extensively by another hand. The left edge of the sheet is unevenly cut. There are two one inch creases extending from the center of the top and bottom edges, respectively. Assorted minor handling creases throughout the sheet. There is a very faint mat stain along te right edge, in addition to scattered areas of foxing along the right edge and to the upper right corner. This work is in overall very good condition.
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.