Viewing page 82 of 95

This transcription has been completed. Contact us with corrections.

New York 22, N. Y. 

[[underlined]] Confidential [[/underlined]]

December 2, 1960

Dear Roland:

This letter is to give you further details in connection with the conversation we had together, yesterday, as well as to confirm our understanding. 

The painting I mentioned to you and of which I showed you a bad colored photograph is:

SASSETTA - "Crucified Christ Appearing to St. Francis", 

and on the appended sheet you will find the complete references thereto. It would seem further, according to several art historians that this panel is considered as having been part - the crowning one - of the Borgo San Sepolcro Altar. 

It is the property of Baron Gerhard von Preuschen, in whose house in Stuttgart I saw it last spring.  He is at present moving from Germany to Switzerland at Comano, in the vicinity of Lugano.  Right along, I have been corresponding with him and in his last letter of October 23rd he wrote that it would be agreeable to him to have me call after December 15th, and that he would not entertain any other proposition until he had had an opportunity of talking with me about the sale of his painting.  

However, as you told me that you would not be able to go over to Europe before around January 15th, I shall ask Baron von Preuschen whether he will be willing to keep the matter open until January 30th - though I ha ve no assurance, of course, that he will accept this proposal, I shall try. 

As regards the price, the principal told me that he had twice refused an offer of $60,000 and it is my impression - this is merely my opinion - that a figure slightly above would probably be accepted. I gave you the reasons, were you to purchase this painting, why I would only wish to participate with one-third of its purchase price, giving me thus a one-third interest in the ultimate profit, and we further agreed that should I not participate in the purchase you would reserve for me a 25% share in the ultimate profit. 

As I explained to you, I have only mentioned this painting to one museum curator, who though extremely interested felt he could at present take no action on account of the special financial circumstances of his 

^[[initials]]

^[[marginalia- Knoedler Balay]]