Index: Lib/test/test_list.py
===================================================================
--- Lib/test/test_list.py	(revision 83023)
+++ Lib/test/test_list.py	(working copy)
@@ -59,6 +59,24 @@
         self.assertRaises((MemoryError, OverflowError), mul, lst, n)
         self.assertRaises((MemoryError, OverflowError), imul, lst, n)
 
+    def test_exceptions(self):
+        class A:
+            def __repr__(self):
+                raise RuntimeError
+        for method in ([].remove, [].index):
+            try:
+                method('a')
+            except ValueError as err:
+                self.assert_("'a'" in err.args[0])
+            else:
+                self.fail('ValueError not raised')
+            try:
+                method(A())
+            except ValueError as err:
+                self.assert_("item" in err.args[0])
+            else:
+                self.fail('ValueError not raised')
+
 def test_main(verbose=None):
     support.run_unittest(ListTest)
 
Index: Objects/listobject.c
===================================================================
--- Objects/listobject.c	(revision 83023)
+++ Objects/listobject.c	(working copy)
@@ -72,6 +72,36 @@
     return 0;
 }
 
+static PyObject *indexerr = NULL;
+static PyObject *notfounderr_format = NULL;
+
+static void
+set_not_found_err(PyObject* v)
+{
+    PyObject *repr, *format_tuple, *err_string;
+    if (notfounderr_format == NULL) {
+        notfounderr_format = PyUnicode_FromString("%s is not in list");
+        if (notfounderr_format == NULL)
+            return;
+    }
+    repr = PyObject_Repr(v);
+    if (repr == NULL) {
+        repr = PyUnicode_FromString("item");
+        if (repr == NULL)
+            return;
+    }
+    format_tuple = PyTuple_Pack(1, repr);
+    Py_DECREF(repr);
+    if (format_tuple == NULL)
+        return;
+    err_string = PyUnicode_Format(notfounderr_format, format_tuple);
+    Py_DECREF(format_tuple);
+    if (err_string == NULL)
+        return;
+    PyErr_SetObject(PyExc_ValueError, err_string);
+    Py_DECREF(err_string);
+}
+
 /* Debug statistic to compare allocations with reuse through the free list */
 #undef SHOW_ALLOC_COUNT
 #ifdef SHOW_ALLOC_COUNT
@@ -173,8 +203,6 @@
         return Py_SIZE(op);
 }
 
-static PyObject *indexerr = NULL;
-
 PyObject *
 PyList_GetItem(PyObject *op, Py_ssize_t i)
 {
@@ -2098,8 +2126,7 @@
 listindex(PyListObject *self, PyObject *args)
 {
     Py_ssize_t i, start=0, stop=Py_SIZE(self);
-    PyObject *v, *format_tuple, *err_string;
-    static PyObject *err_format = NULL;
+    PyObject *v;
 
     if (!PyArg_ParseTuple(args, "O|O&O&:index", &v,
                                 _PyEval_SliceIndex, &start,
@@ -2122,20 +2149,7 @@
         else if (cmp < 0)
             return NULL;
     }
-    if (err_format == NULL) {
-        err_format = PyUnicode_FromString("%r is not in list");
-        if (err_format == NULL)
-            return NULL;
-    }
-    format_tuple = PyTuple_Pack(1, v);
-    if (format_tuple == NULL)
-        return NULL;
-    err_string = PyUnicode_Format(err_format, format_tuple);
-    Py_DECREF(format_tuple);
-    if (err_string == NULL)
-        return NULL;
-    PyErr_SetObject(PyExc_ValueError, err_string);
-    Py_DECREF(err_string);
+    set_not_found_err(v);
     return NULL;
 }
 
@@ -2171,7 +2185,7 @@
         else if (cmp < 0)
             return NULL;
     }
-    PyErr_SetString(PyExc_ValueError, "list.remove(x): x not in list");
+    set_not_found_err(v);
     return NULL;
 }