Can a fine art painting lose value?

A fine art painting's value is directly tied with its past, in some cases more so than its visual appeal. If you were to take an exact, stroke for stroke, copy of Mona Lisa and try selling it, the value would be deemed as lesser than that of the original because it no longer has the history connected to it. Sentiment can not be copied, and thus a painting is only as valuable as it is considered important. So if for some reason a fine art painting were to lose it's past, the value would drop significantly.
That's what I think.