The four artists up for the prestigious Turner prize have been announced with Zarina Bhimji, Nathan Coley, Mike Nelson and Mark Wallinger in with a chance of winning the £40,000 prize.
With £5,000 also awarded to all three runners-up, the prize is awarded to a British artist under fifty for an outstanding exhibition or other presentation of their work in the 12 months before May 8th 2007.
This year's nominees work in a number of mediums with Bhimji using "non-narrative photography and film-making" while Coley's public installation Camouflage Church in the pilgrim town of Santiago de Compostela in northern Spain earned him a place in the final.
Nelson is best known in the art world for his installation of a photographic studio, said to bring "the site of creativity to the heart of the commercial environment", whereas Wallinger's political installation State Britain received critical acclaim.
Usually held in London, 2007 will see the first time that the Turner prize has been presented outside London in its 23 year history and is set to be a curtain-raiser for Liverpool European Capital of Culture 2008.
Although praised by many as a way of drawing young people into the art world, the Turner prize has not been without criticism and controversy. Established in 1984, winners in the past have included transvestite Grayson Perry's sexual imagery ceramics and Simon Starling's shed which he had converted into a boat and sailed down the River Rhine before returning it to its original purpose. .
However in 1999 Tracy Emin failed to win the prize for My Bed yet arguably received the most media attention.
Click here to run an energy price comparison, and see if you could be paying less for your gas and electricity.