The work on board seems to be in good condition. It seems that the artist rubbed most of the surface prior to drawing the pencil lines, and there is a softly abraded surface throughout. A few small retouches have been added above the central circle in the red color, and in the red to the right and lower right of this circle. There are a few retouches in the center of the extreme left edge. There is a spot in the center of the right edge. There is a group of retouches in the red around the inscription but not interfering with it, and in the lower center. These retouches are not numerous, and they are well applied. (This condition report has been provided courtesy of Simon Parkes Art Conservation, Inc.) 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.