diff --git a/rest_framework/genericrelations.py b/rest_framework/genericrelations.py
index 5a20b5296..c193c12eb 100644
--- a/rest_framework/genericrelations.py
+++ b/rest_framework/genericrelations.py
@@ -51,7 +51,10 @@ class GenericRelatedField(serializers.WritableField):
 
     def from_native(self, value):
         # Get the serializer responsible for input resolving
-        serializer = self.determine_serializer_for_data(value)
+        try:
+            serializer = self.determine_serializer_for_data(value)
+        except ConfigurationError as e:
+            raise ValidationError(e)
         serializer.initialize(self.parent, self.source)
         return serializer.from_native(value)
 
@@ -73,12 +76,12 @@ class GenericRelatedField(serializers.WritableField):
                 serializer.from_native(value)
                 # Collects all serializers that can handle the input data.
                 serializers.append(serializer)
-            except Exception:
+            except:
                 pass
         # If no serializer found, raise error.
         l = len(serializers)
         if l < 1:
-            raise ConfigurationError('Could not determine a valid serializer for value "%r"' % value)
+            raise ConfigurationError('Could not determine a valid serializer for value %r.' % value)
         elif l > 1:
-            raise ConfigurationError('There were multiple serializers found for value "%r"' % value)
+            raise ConfigurationError('There were multiple serializers found for value %r.' % value)
         return serializers[0]
diff --git a/rest_framework/tests/relations_generic.py b/rest_framework/tests/relations_generic.py
index 18899f624..1873b5b6a 100644
--- a/rest_framework/tests/relations_generic.py
+++ b/rest_framework/tests/relations_generic.py
@@ -243,7 +243,9 @@ class TestGenericRelatedFieldSerialization(TestCase):
             'tag': 'reminder',
             'tagged_item': 'just a string'
         })
-        self.assertRaises(ConfigurationError, serializer.is_valid)
+
+        with self.assertRaises(ConfigurationError):
+            serializer.fields['tagged_item'].determine_serializer_for_data('just a string')
 
     def test_not_registered_view_name(self):
         class TagSerializer(serializers.ModelSerializer):
@@ -262,7 +264,7 @@ class TestGenericRelatedFieldSerialization(TestCase):
         self.assertFalse(serializer.is_valid())
 
     def test_invalid_url(self):
-        # Should fail ATM
+
         class TagSerializer(serializers.ModelSerializer):
             tagged_item = GenericRelatedField({
                     Bookmark: serializers.HyperlinkedRelatedField(view_name='bookmark-detail'),
@@ -276,7 +278,13 @@ class TestGenericRelatedFieldSerialization(TestCase):
             'tag': 'reminder',
             'tagged_item': 'foo-bar'
         })
+
+        expected = {
+            'tagged_item': ['Could not determine a valid serializer for value %r.' % 'foo-bar']
+        }
+
         self.assertFalse(serializer.is_valid())
+        self.assertEqual(expected, serializer.errors)
 
     def test_serializer_save(self):
         class TagSerializer(serializers.ModelSerializer):