Treasury to Cover Bayeux Tapestry for Estimated £800m
The UK Treasury plans to insure the Bayeux Tapestry against damage for an estimated £800m while it is temporarily on loan to the British Museum next year. This iconic 70-meter embroidery, which vividly depicts the Battle of Hastings in 1066, will be transported from France to London as part of a historic agreement between the two nations.
Details of the Bayeux Tapestry Loan
– Coverage: The artefact’s transit, as well as its time in storage and display, will be protected under the Government Indemnity Scheme (GIS). This scheme provides indemnity insurance for scenarios such as loss or damage.
– Cost Efficiency: A spokesperson from the Treasury emphasized the importance of the GIS, stating that, without this long-standing scheme, public museums and galleries would face a substantial commercial insurance premium, which would be significantly less cost-effective.
Concerns Surrounding the Tapestry’s Transport
While the loan signifies a cultural collaboration, there have been concerns. Some French art experts argue that the nearly 1,000-year-old tapestry may be too delicate for transportation. French officials have dismissed these claims, affirming the tapestry’s readiness for the journey.
– Valuation and Approval: The Treasury has received an initial valuation to cover the Bayeux Tapestry, which has been provisionally approved. The final valuation, estimated to be around £800m according to the Financial Times, is pending confirmation. The Treasury did not contest this figure when approached by the BBC.
Exhibition Details
The Bayeux Tapestry is set to be displayed in the Sainsbury Exhibitions Gallery of the British Museum from September 2024 until July 2027. This temporary relocation is necessary as its current home, the Bayeux Museum, undergoes renovations.
– Significance of the Tapestry: Featuring 58 scenes, 626 characters, and 202 horses, this monumental masterpiece captures a pivotal moment in Anglo-French relations when William the Conqueror seized the English throne from Harold Godwinson, marking the beginning of Norman rule in England.
Government Indemnity Scheme and Additional Loans
The GIS enables art and cultural objects to be showcased publicly in the UK that might otherwise remain inaccessible due to the high costs of commercial insurance. Established in 1980, the scheme has facilitated numerous high-value loans, including Vincent van Gogh’s renowned 1888 work, The Bedroom, to the National Gallery. It is estimated to save museums and galleries around £81m annually compared to commercial insurance costs.
In exchange for the Bayeux Tapestry, the British Museum will loan several significant items to France, including 7th Century Anglo-Saxon artefacts from the Sutton Hoo burial site in Suffolk and the 12th Century Lewis chess pieces.
Conclusion
The Treasury’s commitment to cover the Bayeux Tapestry for £800m represents a significant cultural milestone, fostering artistic exchange between the UK and France. As the tapestry prepares for its journey, its importance in history remains undeniable, continuing to bridge the rich narratives that shape Anglo-French relations.