François Lachenal, Paris
Private Collection, France (by descent from the above)
Private Collection, France
Sale: Christie's, London, June 23, 2005, lot 321
Private Collection, New York (acquired at the above sale and sold: Sotheby's, New York, November 5, 2014, lot 339)
Acquired at the above sale by the present owner

This work is in excellent condition. Executed on white colored paper removed from a notebook, affixed to a sheet along top edge on verso. Holes for a spiral ring notebook are visible along left edge. Edges are cut. Sheet is bright and fresh, with a few very minor studio stains. Lower left shows minor handling, otherwise fine.
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.

Claude Picasso has confirmed the authenticity of this work.