Original watercolor, study for a poster, by Nadezhda Udaltsova (Russian, 1886-1961), signed with the artist's initials lower right. Circa 1921-22. 29.5 x 19.5 cm. Excellent condition. Unframed. Exhibitions: "Russia Avanguardia Tradita," Rome, September 6 - 25, 2010. Illustrated on page 9 of the exhibition catalog (which is included with the Lot).