Well, I think so. The deceased original tumblr source suggests that this illustration was the work of an artist named “Henry Sebastian” and dated it to 1932, but I haven’t been able to find any information on this artist or verify the provenance. I originally blogged this image in this 26 November 2015 post at Infernal Wonders.
Not finding anything yet about the artist, but have found a lot of similar work also attributed to him.
https://hprints.com/en/search/Henry-Sebastian/
Excellent link! Thanks for sharing.
Published in Le Sourire in the early 1930s . Google his name and magazine for more images, but no information available