Priceless

Art, like beauty, is in the eye of the beholder. But what about value?

When Marcel Duchamp's 'Fountain' was named as the most influential piece of modern art a lot of people, including many experts, were just as shocked as when it was first put on display in 1917. To some it's an inspiration, to others it's a urinal. Imagine then trying to place a value on it. Could it even be replaced? Is it the object or the idea that's the art?

Specialist insurer's tackles this type of problem every day and some art market research suggests that many pieces of artwork, family heirlooms and other collectibles are seriously underinsured. English sporting paintings, for example, have risen in value by around 90% in the last decade.