A Japanese watercolour painting on silk, early 20th century, depicting two fish swimming amidst reeds, black signature and red seal to right margin, 16cm x 24cm, together with a set of eight Chinese cut black paper silhouettes of horses in different poses, 20th century, framed and glazed as two sets of four, each panel 18cm x 18cm. Buyer’s Premium 29.4% (including VAT @ 20%) of the hammer price. Lots purchased online via the-saleroom.com will attract an additional premium of 6% (including VAT @ 20%) of the hammer price.