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The British Monarchy should have a healthy fear of burglars at the Tower of London. It turns out, the crown jewels locked in the infamous building are not insured.
The ceremonial robes, the St. Edward Crown used for coronations and dating from 1611 and other precious stones are uninsurable, reported The Express of London, because the historic nature of the pieces makes them impossible to price.
Finance website Saving Spot estimated the value of the St. Edward’s Crown at £3.5 million ($4.52 million) by individually pricing each part of the headpiece using International Gem Society guidelines, and estimated the value of the entire collection of crown jewels to be more than £2.7 billion, but admitted there is no way to know its exact value, said the news site.
Seeing a golden opportunity to use the theft of Italian artist Maurizio Cattelan’s gold toilet titled “America,” European art insurer Arte Generali is prompting giggles in the Italian art market by poking fun at the ordeal in its new advertising campaign, art site Hyperallergic.com reported Thursday.