It is one of only two figures in my "collection"(the other being a Bill Hearn 7th Cavalry figure). It was painted about 30 years ago when the Pheonix Follies were first released (without reference to the catalogue that will be in the loft somewhere, I think this was the first release).
The technique would have invloved the following:
1) a good even undercoat in a neutral colour ( I think that may have been my beige period)
2) good quality artists' oils - "student" oils have a coarse pigment
3) lots of time
4) good quality brushes (Windsor & Newton Series 7)
5) a little wine (in those days any wine would suffice - but nowadays...)
6) applying oils in thin coats using distilled turps
7) lots of time (but thin coats can dry surprisingly quickly)
8) keep the wine topped up
9) varnish on the frock is semi matt to provide a bit of a sheen
10) high gloss varnish for the eyes, lips. fingernails and shoes
11) matt varnish everywhere else
11) keep it under a glass dome to protect it from the demon dust
The wine is a great source of inspiration when you are watching paint dry.
I rember great enjoyment doing it!
Al
.... (Can't believe I just typed a message to a guy complimenting his stockings)! 
