Terry was arrested in April 2003 detectives found art and antiques valued at £500,000, £59,000 in cash and jewellery worth more than £40,000 in his home.

The organization grew exponentially from 814 subscriptions, in 1840, with art valued at $4,145 to 18,960 subscriptions, values in excess of $100,000.

In May, Christie's postwar sale offered art valued at $66.4 million to $94.8 million.

Today, more than 3,200 works of art valued at $46 million are on view at 140 posts in 120 countries.

In two days there, more than 1,150 works of art and photography valued at nearly $10 million will offered for sale by the auction house Villa Grisebach.

Now their heirs are selling the art, valued at $48 million to $68 million.

The law applies to works of art valued at more that $100.00 (not including frame).

Recently, however, 65 works of art valued at more than $40 million have been given to 19 museums in the United States and Israel.

Sotheby's said that over the three days, it expected to sell art valued at a total of $138 million and $182 million.

The university exhibits a collection of 20th-century American art valued at several million dollars donated and lent by the Micheners along with an endowment to acquire more.