Study for “Bajazzo und Artisten” (“Bajazzo and Artists”), 1916. White gouache, watercolour and graphite on paper, 17.25 x 12.3 in. (43.8 x 31.3 cm). Signed and dated on lower right, “F Ascher 1916”. Private collection. Photo Malcolm Varon ©Bianca Stock

Study for “Bajazzo und Artisten” (“Bajazzo and Artists”), 1916