Lautrec made this study for the cover of the final issue of L'Estampe Originale (1893–95), a quarterly album of original prints by young French artists. Fittingly, it shows stagehands bringing down the curtain on a performance. In the middle, a plaster elephant stands guard atop a cartouche for the table of contents. Seated at left is Misia Natanson, the glamorous patrones...
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