Henri de Toulouse-Lautrec "Portrait of a Gentleman"

HENRI DE TOULOUSE-LAUTREC (French 1864-1901) "Portrait of a gentleman" Watercolor and pencil on paper. Sheet: 9 7/8 x 7 inches. Signed in pencil lower right: T. Lautrec. CONDITION: In overall good condition, when examined out of the frame the sheet is not laid down but has substantial foxing throughout on the both the back and front of the sheet. The foxing is also visible in the head of the figure, the sheet is hinged on the backing mat with archival tape at the top. There are no visible areas of missing paper or tears in the sheet. Australian airport customs stamp verso lower right (not on the actual sheet of the work).