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Half of the frauds, 77 cases, involved dentists charging for more expensive work than they had carried out.
But for more established artists, with more expensive work, dealers have to go where the customers are.
The policy allows the money to be used flexibly -- it can be combined for a more expensive work shared by several buildings, for instance.
That effort was financed by utility companies, but the financing could not have paid for the more expensive work that now needs to be done, like insulating solid walls and installing new heating systems, he said.
In doing so, they created more expensive work for the next round of repairs, and may have caused damage to the home that the Federal Emergency Management Agency won't cover.
Mr Beauchamp says this way more people get to know and enjoy their work and then want to visit the galleries where their more expensive work is sold.
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Sothebys.com was to sell more expensive works, including works authenticated by its network of 5,000 dealers from around the world.
The Nov. 13 Sotheby's contemporary art catalog indicates that Mr. Cohen is receiving a guarantee — an undisclosed sum of money — for some of the more expensive works, regardless of whether the auction house is able to sell them.
The deal Britain is signing exempts art works sold for less than €2,500 £1,7500) and, more importantly, more than €10,000, which will protect the more expensive works of art in which Bond Street specialises.
More expensive works had no takers, including Manet's "Young Girl on a Bench," an 1880 portrait of a girl with a wide-brim hat that was expected to bring $12 million to $18 million.
Clients enrolled in Duveen's course of study would buy the Bouguereau, stare at it for some time, get faintly tired of it, and then, as they heard of rarer and subtler and more expensive works, grow rather ashamed of it.
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