Superb vintage glossy 8 x 10 later-generation Clarence Sinclair Bull photo of the handsome young Disney leaning on a mantelpiece, signed and inscribed in purple fountain pen, “To Ruth Ivener, With best wishes, Sincerely, Walt Disney, 7-25-33.” Ivener was the Vice-President of Kay Kamen, Ltd. Herman “Kay” Kamen was the sole representative of Walt Disney Enterprises’ merchandise division from 1932 until his death in a plane crash in 1949. In the month Disney signed this photo, Kamen signed his first major merchandising contract with Walt Disney Enterprises, wherein Kamen would receive 40% of receipts on the first $100,000, and 50% of receipts above that. Accompanied by a COA from Disney expert Phil Sears, who observes that the inscription and signature are consistent with the Roman block printing Disney used until the mid-1930s. Matted and framed (in its original frame), to an overall size of 10.75 x 12.75; the reverse bears a Christie’s label. In fine condition, with scattered light creases and surface marks. PSA/DNA Auction LOA and R&R COA.
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