The hosting software interfered with my previous post. Here is what I had intended to post.
If you downloaded GraphicConverter 10 from the developer site, it needs to go through a one-time security ritual, because it is not from the Mac App Store. After you have double-clicked on the gc10.dmg installer, and it has opened, you drag and drop the application icon over the application folder alias shown within the installer. Once installed in the /Applications folder, the following is necessary.
In a Finder Window, click the Applications Favorite in the sidebar. Look for GraphicConverter 10, and then right-click on it, and choose Open. You will see a security verification bar, and a subsequent dialog with an Open button on it. Click that Open button. GraphicConverter 10 will then launch. Another dialog will appear on which you click the Try It button.
Another dialog named "First Steps" appears on which you would select Single Image and Open an Image… button, thereby selecting your .pict image. Once it is open, you should be able to select File menu : Save As… and pick the output image format.
After you quit the GraphicConverter 10 trial, you can subsequently double-click the application in a normal way to launch it.