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Sigmund Waldes managed the Dresden branch of the renowned Waldes-Werke factory, whose best-known product was the “Koh-i-noor” press stud. As a Jew, he was forced to flee Germany at the end of 1938. A court order was made for his assets to be converted into securities, and some were seized for their value. In 1939, before he was actually appointed Special Commissioner, Hans Posse examined the art collection in his role as an expert and approved it for export, although this never took place.

When Waldes needed funds after his successful escape to the USA, he had to sell the works left behind in Dresden through a trustee. They included this drawing by one of the most important Munich School Realists, which was acquired in July 1942 for the “Linz Special Commission”. However, the proceeds did not go to Waldes, but to the German Reich. In 2014, the drawing was restituted and acquired for the Kupferstich-Kabinett in an amicable agreement with Sigmund Waldes’ heirs.