Jamie Reed
Labour, Copeland
To ask the Secretary of State for Culture, Media and Sport, what estimate he has made of the value of the Government Art Collection.
Ed Vaizey
Minister of State for Culture and the Digital Economy (Jointly with Department for Business, Innovation and Skills), Minister of State for Culture and the Digital Economy (Jointly with Department for Culture Media and Sport)
It is not possible to give an accurate estimate of the value of the Government Art Collection or individual works, neither of which have a current market valuation. The current monetary value of a work of art can be accurately assessed only at the time of purchase or sale or by professional valuation. In the former case, the Collection is not actively traded; in the latter, it would not be justifiable expenditure of public funds to have the whole Collection valued professionally.
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