  \noindent The galaxy IRAS F10214+4724, discovered in a spectroscopic survey
of a 0.2 Jy sample by Rowan-Robinson and collaborators in 1991, is
significantly more luminous than any other known galaxy. Its bolometric
luminosity is comparable to those of the most luminous quasars. Recent
obsservations have revealed a candidate foreground group of galaxies, which
might gravitationally lens F10214+4724, thus explaining much of its luminosity.
High-resolution imaging of F10214+4724 has revealed that most of its near-IR
flux comes from a circularly symmetric arc; this also supports the
gravitational lens interpretation. In such a scenario, F10214+4724 would be the
high-redshift analogue of the ultraluminous IRAS galaxies observed locally.
This work presents a simple statistical lensing model to investigate this
possibility.
