The University of Retexe owns a painting titled ‘the scales out of balance’ which was given to it by a grateful graduate in 1955. The University has decided that nobody really looks at the piece and therefore wants to sell it. They contact a former student, Stefan, by letter:
‘We are considering selling the painting you knew and loved when you were a student here, ‘the scales out of balance’, as long as you are willing to pay £2m for it. The sale must be within the next two months. As you will remember it was included in the BBC television series ‘the art of Hogarth’ and they considered it to be one of his best pieces. Would you be interested in purchasing this Hogarth?’
Stefan immediately replies that the gallery he owns would be happy to pay that price for the Hogarth.
The University does not reply but the accountant removes the Hogarth from the list of art pieces to be insured. Shortly after Stefan succeeds in selling the painting on to an American art gallery for £5m. He contacts the University and leaves a message:
‘I hope you don’t mind but I have managed to sell the painting to a fantastic gallery.’ A few days later the university representative, Tammy, calls Stefan back and comments that she is glad they have found a good home for the painting and asks when Stefan would like the painting to be delivered.
Stefan is about to call back when he finds out from another dealer that the Hogarth, due to the time when it was donated, must have been a forgery. The discovery was made by accident last week when a gallery moved other Hogarth to a new building.