Back in the 60s it was an art gallery at Fisherman's Wharf in San Francisco featured paintings by somebody named Pat Cucaro. His dealer, the late Edward J. Cory, made news in 1968 when a customer who was later confined to the state mental hospital at Napa bought a Cucaro painting of Angelique for $52,500. The state attorney general sued Cory for allegedly inflating the market for Cucaros by using "a mentally disturbed person's check,'' as The Chronicle characterized it, to bolster his claim that Mr. Cucaro was "the greatest artist in America, bar none.''
http://sfchroniclemarketplace.com/cgi-bin/article.cgi?f=/c/a/2004/03/13/BAGB15K4FK1.DTL&hw=bolster&sn=578&sc=440 The check, however, presumably increased the value of the paintings for sale. Tourists at Fisherman's Wharf could get a real deal by paintings at a considerable discount from 50,000 dollars. Later, some of the tourists presumably found out that the paintings were of relatively little value. In the process, considerable wealth and value was created. -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail michael at ecst.csuchico.edu michaelperelman.wordpress.com _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
